The IPOX® Watch - Privia Health Group
Company Description
Founded in 2007, Privia Health Group, Inc is a physician-enablement company, headquartered in Arlington, VA. The Group collaborates with medical groups, health insurance plans, and health system to organize physicians and optimize physician practices through the Privia Platform. The integrated platform is designed to optimize provider workflow with lower cost and transform the traditional fee-for-service (FFS) model to a value-based care (VBA) reimbursement.
Business Model
Privia Health generates revenue from (i) FFS-patient care revenue, (ii) VBC revenue collected on behalf of providers, and (iii) other revenue from additional value-oriented services such as virtual visits.
IPO History
On 04/29/2021, Privia Health Group, Inc began trading on the Nasdaq Global Select Market led by Goldman Sachs. The physician-enablement platform offered 19.5 million shares (included 16.7 million shares from selling stockholder) at $23.00 per share, high-end of its expected price range ($21 - $23). Privia Health Group was valued at ca. $2.36 billion at offer with the 15% over-allotment option fully exercised. The shares opened at $30.00 and closed the first day higher at $34.75 (+51.09%).
Privia Health Group, Inc was included in the IPOX® 100 U.S. Index (ETF: FPX US, FPX LN) on 06/20/2022, and currently weighs ca. 0.50% of the portfolio.
