Healthcare Payments Startup Waystar Files for IPO

         

Summary: Waystar Technologies, a healthcare payments startup, has made its filing for an initial public offering (IPO) public. The company, which provides software to help hospitals and clinics manage their finances, plans to list its common stock on the Nasdaq under the symbol ‘WAY’. Waystar reported a rise in quarterly sales, with total sales reaching $196 million for the three months ended June 30. The net loss for the period slightly narrowed to $10.8 million. Waystar was created in 2017 through the merger of healthcare tech firms Navicure and ZirMed.

Healthcare payments startup Waystar Technologies has made its filing for an initial public offering (IPO) public. The company, which provides software to help hospitals and clinics manage their finances, plans to list its common stock on the Nasdaq under the symbol ‘WAY’. Waystar was formed in 2017 through the merger of healthcare tech firms Navicure and ZirMed.

Reuters had previously reported in August that Waystar was considering an IPO that could value the company at up to $8 billion. Waystar had confidentially filed for the IPO in August, joining a wave of new listings after a period of low activity in the IPO market. Despite the recent IPOs of high-profile companies like Arm and Instacart, some of their shares have experienced volatility, raising concerns about the overall health of the IPO market.

In terms of financial performance, Waystar reported a rise in quarterly sales. Total sales for the three months ended June 30 reached $196 million, compared to $173.4 million in the same period last year. The net loss for the period slightly narrowed from $10.9 million to $10.8 million.

Tags: Waystar Technologies, IPO, healthcare payments, finances, Nasdaq

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