By Maria Armental
Change Healthcare Inc., a healthcare technology company indirectly controlled by McKesson Corp., has filed to go public.
Nashville-based Change Healthcare is a holding company for investments in a venture formed in 2017 by combining most of McKesson's technology segment with a company owned by Blackstone Group LP and Hellman & Friedman LLC. McKesson owns 70% of the venture.
McKesson valued its equity stake in Change Healthcare at about $3.57 billion as of Dec. 31.
The company seeks to trade on Nasdaq under the symbol CHNG, according to a securities filing.
Change Healthcare intends to use net proceeds from the IPO to buy newly issued units in the venture equal to the number of shares that will be sold in the offering. The venture, in turn, would use the money received to pay down debt, according to the filing.
The company indicated it could raise $100 million in the IPO, but that figure is used to calculate filing fees and often changed.
The documents, filed Friday with the Securities and Exchange Commission, don't offer much detail on the planned offering but give a glimpse at the company's finances.
For the year nine months through Dec. 31, the venture generated a profit of $139.1 million and revenue of $2.45 billion.
Change Healthcare's network, which includes physicians, pharmacies and hospitals, handles clinical-records transactions for more than 112 million patients, the company said.
Write to Maria Armental at email@example.com