Monthly Archives: June 2016

NantHealth NantWorks 2016 Update

Dr. Patrick Soon-Shiong, CEO of NantWorks, the holding company of NantHealth, announced today the IPO of NantHealth:
WSJ 5/24/2016 article on NantHealth
MedCity News Article
The IPO, if successful, will value the company at $2 billion.

So … a few items:

The IPO had been expected last year, but Soon-Shiong told MedCity News in January that he put off the move until NantHealth completed its acquisition of payer-provider communications platform NaviNet.

Here are seven interesting tidbits we found in NantHealth’s S-1 registration statement.

1. The Culver City, California-based company filed for an IPO worth as much as $92 million. That’s actually relative pocket change, given that Allscripts Healthcare Solutions invested $200 million in NantHealth last year, and that NantHealth has been valued at $2 billion. (However, the S-1 lists net tangible book value at $239.4 million as of Dec. 31, which means total tangible assets minus liabilities.)

2. The government of Kuwait owns at least 10 percent of NantHealth, via two holding companies. The Kuwait Investment Authority had put $250 million into NantHealth in 2014.

3. NantHealth has named its knowledge, provider and payer platform CLINICS, for Comprehensive Learning Integrated NantHealth Intelligent Clinical System.

“CLINICS is designed to address many of the key challenges healthcare constituents face by enabling them to acquire and store genomic and proteomic data, combine diagnostic inputs with phenotypic and cost data, analyze datasets, securely deliver that data to providers in a clinical setting to aid selection of the appropriate treatments, monitor patient biometric data and progression on a real-time basis, and demonstrate improved patient outcomes and costs.”