50+ Publicly Traded Digital Health Companies
What they do, when and how they IPOd, and their current market cap
Over the last decade, we have witnessed extraordinary growth in digital health as new innovations have increasingly become the cornerstone of modern healthcare services. We’ve seen the maturing of many startups in our space, some of which are now household names like Hims, GoodRx, Noom, and TalkSpace.
As these venture-backed companies mature, many seek an exit. This leaves them with two choices: get acquired or go public. A significant number opt for the public market, either through an Initial Public Offering (IPO) or a Special Purpose Acquisition Company (SPAC) route. But they all have the same goal: to unlock access to capital, provide liquidity to early investors, enhance their visibility, or facilitate future acquisitions.
As a founder, investor, and general digital health enthusiast, I’ve been tracking these companies for some time. Below I’ll briefly share a little background on digital health IPOs by year, and a list of all the currently active companies valued over $100 million (and what they do). Let’s dive in.
Digital health IPOs by year
There are currently over 55 publicly traded digital health companies, valued from $25 million to over $38 billion, with a median value of $846 million. Today, 28 of them are valued over $1 billion (to compare, there are 70+ privately held digital health companies “valued” at over $1B).
A good portion (21/57) of the active public digital health companies IPO’d in 2021, a year with unprecedented activity in the space. In fact, there were more digital health IPOs in 2021 than the previous decade combined. This rise was, in part, spurred by the increasing popularity of SPACs. These 'blank check' companies became an attractive route for digital health firms looking to expedite their journey to the public market. Notably, out of the 37 digital health IPOs in 2021, half took the SPAC path.
A list of publicly traded digital health companies
So, which ones are still around? Below are publicly listed health tech companies with a market cap of at least $100 million as of March 2025. They are listed in order of market cap, from highest to lowest. For a complete list, including current market cap, years to IPO, as well as delisted companies, download this database of digital health companies.
Veeva Systems
A cloud-computing company focused on pharmaceutical and life sciences industry applications.
Path: IPO
Year of IPO: 2013
Iqvia (fka Quintiles and IMS Health, Inc)
An American multinational company serving the combined industries of health information technology and clinical research.
Path: IPO
Year of IPO: 2013
DexCom
An American company that develops, manufactures, and distributes continuous glucose monitoring systems for diabetes management.
Path: IPO
Year of IPO: 2005
Doximity
A leading digital platform for medical professionals, offering a range of networking, communication, and education tools.
Path: IPO
Year of IPO: 2021
Tempus AI
Tempus uses data and artificial intelligence (AI) to create precision medicine services, including diagnostics, for oncology, cardiology, radiology, and depression.
Path: IPO
Year of IPO: 2024
HealthEquity
A financial technology and business services company that is designated as a non-bank health savings trustee by the IRS.
Path: IPO
Year of IPO: 2014
Hims & Hers Health
A telehealth company initially focusing on men's health, later expanded to women's health.
Path: SPAC
Year of IPO: 2021
Waystar
Waystar harnesses the power of AI, generative AI, and advanced automation to drive meaningful outcomes so providers reach peak financial performance and patients receive care with confidence.
Path: IPO
Year of IPO: 2024
Guardant Health
Guardant Health has a blood tests for comprehensive genomic testing and primary screening for colorectal cancer.
Path: IPO
Year of IPO: 2018
Oscar
A tech-enabled health insurance company.
Path: IPO
Year of IPO: 2021
iRhythm Technologies
A digital healthcare company redefining the way cardiac arrhythmias are clinically diagnosed.
Path: IPO
Year of IPO: 2016
Privia Health Group
A national physician organization that transforms the healthcare delivery experience for providers and consumers.
Path: IPO
Year of IPO: 2021
Lifestance Health
LifeStance is a national virtual mental health provider offering a range of outpatient therapy and psychiatry services.
Path: IPO
Year of IPO: 2021
GeneDx
A company focused on genetic testing, offering a broad range of tests for rare hereditary disorders.
Path: SPAC
Year of IPO: 2023
Peloton Interactive
A global interactive fitness platform that brings boutique-style studio fitness classes to the convenience of home.
Path: IPO
Year of IPO: 2019
Astrana Health (fka Apollo Medical Holdings)
Astrana Health is a healthcare company that manages and delivers care using technology and a value-based care model.
Path: IPO
Year of IPO: 2009
Certara
Certara is a company that uses technology and services to speed up the drug discovery and development process.
Path: IPO
Year of IPO: 2020
Clover Health
A tech-driven health insurance company that leverages data analytics and machine learning to deliver personalized healthcare to seniors.
Path: SPAC
Year of IPO: 2021
Progyny
A fertility benefits management company that combines clinical and emotional guidance and support, science, technology and data.
Path: IPO
Year of IPO: 2019
Goodrx
A digital health company that provides telemedicine services and hosts a marketplace for self-pay and health insurance discounted pharmacy transactions.
Path: IPO
Year of IPO: 2020
Omnicell
A healthcare company that provides automation and business information solutions enabling healthcare systems to streamline the medication administration process.
Path: IPO
Year of IPO: 2001
Premier, Inc.
Premier helps healthcare providers save money by pooling their purchasing power. Premier's PINC AI platform provides analytics and technology to help organizations make data-driven decisions.
Path: IPO
Year of IPO: 2013
Teladoc
A multinational telemedicine and virtual healthcare company providing comprehensive telehealth service.
Path: IPO
Year of IPO: 2015
Schrodinger
A leading provider of advanced molecular simulations and enterprise software solutions and services to accelerate and increase the efficiency of drug discovery.
Path: IPO
Year of IPO: 2020
aglion health
agilon health is transforming health care for seniors by empowering primary-care physicians to focus on the entire health of their patients.
Path: IPO
Year of IPO: 2021
Phreesia
A healthcare company providing a suite of robust applications to manage healthcare appointments and check-in processes.
Path: IPO
Year of IPO: 2019
Evolent Health
A healthcare company that delivers proven clinical and administrative solutions to payers and providers.
Path: IPO
Year of IPO: 2015
HealthStream
A provider of workforce and provider solutions for the healthcare industry, committed to improving patient outcomes through the development of healthcare organizations' greatest asset: their people.
Path: IPO
Year of IPO: 2011
Veradigm (fka Allscripts)
Practice management and electronic health record technology.
Path: IPO
Year: 2006
Weave Communication
Weave is a software platform that helps small businesses, including healthcare practices, manage communications, appointments, and payments.
Path: IPO
Year: 2021
Butterfly Network
A digital health company that provides advanced imaging in medical fields, democratizing healthcare by making medical imaging accessible to everyone.
Path: SPAC
Year of IPO: 2021
Simulations Plus
A premier developer of drug discovery and development software, which is licensed to and used in the conduct of drug research by major pharmaceutical companies worldwide.
Path: IPO
Year of IPO: 1997
Talkspace
A digital and virtual behavioral healthcare company offering online psychotherapy services.
Path: SPAC
Year of IPO: 2021
Definitive Healthcare
A leading provider of comprehensive, up-to-date and integrated data on hospitals, physicians, and other healthcare providers.
Path: IPO
Year of IPO: 2021
Multiplan
MultiPlan uses data to design benefit plans, lower costs, and improve healthcare outcomes.
Path: IPO
Year of IPO: 2020
TruBridge (fka Computer Programs & Systems)
A company providing healthcare information technology solutions and services to rural and community hospitals.
Path: IPO
Year of IPO: 2002
GoHealth
A health insurance marketplace that specializes in matching consumers with Medicare Advantage, Medicare Supplement, and Prescription Drug Plan providers.
Path: IPO
Year of IPO: 2020
Neuropace
A company specializing in innovative neurotechnology for treating neurological disorders through responsive neurostimulation.
Path: IPO
Year of IPO: 2021
Health Catalyst
A leading provider of data and analytics technology and services to healthcare organizations, and is committed to being the catalyst for massive, measurable, data-informed healthcare improvement.
Path: IPO
Year of IPO: 2019
eHealth
eHealth is an online marketplace for healthcare insurance.
Path: IPO
Year of IPO: 2006
DocGo
A leading provider of last-mile mobile health services and integrated medical mobility solutions.
Path: SPAC
Year of IPO: 2021
LifeMD
LifeMD is a virtual healthcare company that offers primary care, urgent care, chronic care, and weight management.
Path: IPO
Year of IPO: 2021
Sophia Genetics SA
A health tech company integrating clinical genomics and radiomics to power the data-driven medicine era.
Path: IPO
Year of IPO: 2021
Performant
Performant helps commercial healthcare and government payers enhance revenue and contain costs by identifying, preventing, and recovering waste, improper payments, and defaulted assets.
Path: IPO
Year of IPO: 2021
American Well
American Well, also known as Amwell, is a telemedicine company that connects patients with doctors using secure video.
Path: IPO
Year of IPO: 2020
Get the full list
The List of Digital Health Companies includes:
🦄 Unicorns
List of active private digital health companies valued at $1B+
Year they became a "unicorn"
Plus former unicorns, and when and why they were de-listed
🏦 Publicly Traded
List of publicly traded digital health companies
Includes company name, ticker, exchange, exit year, and IPO route (IPO vs SPAC)
Market cap at IPO and currently
Plus, list of those that were delisted, acquired, or went bankrupt
🤝 M&A
List of digital health companies that have been acquired for $100M+
Includes acquirer, cash/equity mix, and total acquisition value
Includes year founded, years to exit, and previous VC funding
Plus, those that did not quite make the list (and why)
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