Prescription drug marketplace GoodRx Inc files for IPO

According to sources familiar with the matter at hand, GoodRx Inc, a U.S. online prescription drug price marketplace has filed documents with the U.S. Securities and Exchange Commission for a potential initial public offering (IPO).

In 2018, during a funding round which saw the participation of private equity firm Silver Lake Partners in the company, GoodRx was valued at $2.8 billion.

The potential listing is likely to either be sometime later this year or in early 2021, said a source on the condition of anonymity while noting that the plans were subject to market conditions.

GoodRx did not immediately respond to requests for comments.

Founded in 2011 by Doug Hirsch and Trevor Bezdek, GoodRx collects data from more than 70,000 U.S. pharmacies tracking drug prices; it also offers coupons codes to consumers for availing discounts. It earns by charging fees to partnering pharmacies.

According to GoodRx, it has more than 10 million Americans users every month. In 2019, it acquired HeyDoctor LLC and expanded into telemedicine.

Earlier this year in June, GoodRx appointed Karsten Voermann as its chief financial officer and Bansi Nagji as president for healthcare.

Its investors includes Silver Lake, buyout firms Francisco Partners and Spectrum Equity.

Its competitors includes SingleCare and RetailMeNot Inc’s RxSaver.

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

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