Healthcare information systems vendor Change Healthcare has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) in advance of a planned $100 million initial public offering (IPO).
In the March 15 filing, Change said it produced $3.3 billion in total revenue and net income of $192.4 million in its fiscal year ending March 31, 2018. For the first nine months of its 2019 fiscal year (end-December 31), Change had total revenue of $2.45 billion, down 0.5% from the $2.46 billion produced in the first nine months of the 2017 fiscal year (end-December 31). The company had net income of $139.1 million in the first nine months of fiscal 2019, down from net income of $195.5 million in the first nine months of fiscal 2018.
The firm plans to list its stock on the Nasdaq Global Select Market under the symbol "CHNG."
