US-based primary care provider Oak Street Health, which counts health system owner Humana among its backers, closed its initial public offering at approximately $377m.
The company initially priced more than 15.6 million shares on the New York Stock Exchange at $21 each to raise $328m and its underwriters purchased over 2.3 million additional shares through the over-allotment option.
Founded in 2012, Oak Street runs more than 50 primary care centres across various US states for patients using government health insurance scheme Medicare.
US-based drug discovery technology provider Atomwise completed a $123m series B round that featured internet group Tencent as well as two undisclosed insurance firms in the syndicate.
Venture capital firm B Capital Group and the Saudi state-owned Sanabil Investments co-led the round, which also featured DCVC (also known as Data Collective) and Y Combinator, among other investors.
Atomwise has created a system called AtomNet that uses artificial intelligence to help researchers design and develop therapeutic treatments for disease targets previously thought to be undruggable.
On the other side of the Pacific, China-based healthcare insurance and crowdfunding platform Waterdrop, backed by corporates Meituan Dianping and Tencent, raised approximately $200m in a transaction valuing the company at $2bn. The round was reportedly led by an undisclosed large international insurance provider. Also known as Shuidi, Waterdrop offers three services through Tencent’s messaging, mobile payment and social media app, WeChat: a healthcare insurance brokerage, a cancer-focused mutual aid offering and a healthcare crowdfunding service. The app claims to have attracted more than 250 million users.
GCV Analytics has tracked a growing number of corporate-backed deals in the life sciences space since the beginning of the year, particularly since the outbreak of the pandemic in February.
