Successful drug-shopping company developing telehealth markets, planning $100M IPO

A popular and fast-growing consumer healthcare company rooted in technology intends to go public with an initial offering of $100 million in shares.

GoodRX hasn’t yet set a date for its IPO, but its leaders signaled their plans to expand exponentially last year when they acquired a remote-care service called HeyDoctor and introduced a comparison-shopping platform for telehealth patients.

The Los Angeles Business Journal reports on the IPO and takes a look at GoodRX’s steady growth over the years since its 2011 launch.

One example of the success is the company’s performance in the first half of this year. While the COVID crisis was knocking the daylights out of many commercial enterprises, GoodRX raked in revenues of close to $257 million.

That was almost 50% better than the $173 million the company rang up in the first six months of 2019.

“Our goal has always been to provide access to affordable and convenient health care to all Americans,” co-founder and co-CEO Doug Hirsch tells the L.A. business outlet. “We started by helping people find lower prices on prescriptions, but we’ve long wanted to help make doctor visits and other health care services affordable as well. Telehealth is a natural extension of our platform.”

Read the full article.