Digital health company Livongo Health files to go public

Livongo Health on Friday filed a registration statement for a proposed initial public offering with the U.S. Securities and Exchange Commission.

The company, which brought in $68.4 million in revenue last year, plans to raise up to $100 million in the IPO, according to its S-1 filing.

Livongo is a digital health company that tackles chronic diseases, beginning with diabetes in 2014 and since expanding to conditions like high blood pressure and weight management. It uses technology, such as glucose monitors and wearables, to monitor members' conditions and helps them stay on track with treatment through personalized alerts and reminders, which it calls "nudges."

Earlier this week Livongo announced an integration with activity trackers like Apple Watch and Fitbit, through which the company can deliver "nudges" related to blood sugar readings, nutrition and exercise to a member's smartwatch.

Livongo works with health systems, health plans and employers as customers, which subsequently cover costs for their members. The company said it had 113,854 members enrolled in its diabetes program last year, up from 53,858 in 2017.

Founded by former Allscripts Healthcare Solutions CEO Glen Tullman, Livongo has been scooping up executives from prominent health technology companies since its inception.

Tullman now serves as Livongo's executive chair, and in December the company hired Zane Burke, former president of Cerner Corp., as its CEO. Other members of the company's leadership team hail from companies like GE Healthcare and 23andMe.

The company highlighted its continued growth in its SEC filing SEC.

Its $68.4 million in revenue in 2018 marked a 122% rise from the year prior, when it reported $30.9 million, and it raised $105 million in its most recent funding round.

Livongo hasn't determined the number of shares to be offered or the price range for the proposed offering. Morgan Stanley & Co., Goldman Sachs & Co. and J.P. Morgan Securities are underwriters on the IPO.