The largest U.S. stock exchange, Nasdaq, recently reported that trading of INOV (Inovalon Holdings, Inc.), a leading provider of cutting-edge, data-driven intervention platforms and cloud-based information analytics relevant to the healthcare industry, began on February 12, 2015.
A leading technology firm offering compelling insights into the continued improvement of financial performances and clinical results encompassing the entirety of the healthcare landscape, Inovalon incorporates the positive synergy emerging from the interaction of sophisticated integration technologies, expansive proprietary data-sets and breakthrough predictive analytics to provide streamlined assistance in identifying compromised gaps in healthcare environments.
Currently, Inovalon supports several hundred healthcare businesses in 98 percent of Puerto Rico and U.S. counties by supplying platforms with data relating to over 700,000 physicians, nearly 250,000 clinical facilities and 120 million patients. Inovalon’s inclusion in Nasqaq indicates that its state-of-the-art solution package is successfully impacting and improving the economics and quality of care for healthcare organizations while contributing to the advancement of ACOs, health plans, patients, researchers and physicians.
Executive Vice President of Nasdaq’s listing services Nelson Griggs welcomed Inovalon “to the family of innovative technology companies that call Nasdaq home and look forward to their continued growth and success in the future”.
What It Means to Get Listed at Nasdaq
As the leading provider of exchange technology, listing and trading across all six continents, Nasdaq (NDAQ) has been enabling companies and consumers to optimize their vision-driven, financial goals with a comprehensive variety of technologies since 1971. Founded by the National Association of Securities Dealers, Nasdaq is currently owned by the Nasdaq OMX Group, whose stocks are listed under the NDAQ ticker symbol.
Inovalon, as well as all other companies listed with Nasdaq, will enjoy numerous benefits of being part of the Nasdaq stock market exchange. Its global reach, volume of trading (an estimated two billion shares each day) and broad range of sectors reaching across the most active industries–healthcare, industrial, consumer and financial–make the Nasdaq one of the world’s most remarkably rated stock exchanges. Highly visible examples of Nasdaq companies include Google, Costco, Microsoft, Starbucks and eBay. Moreover, with significant factions in India, Europe, China and Israel, Nasdaq attracts worldwide companies with its solid reputation as a viable and trusted trading and listing venue.
Requirements for Listing at Nasdaq
Before being listed, Inovalon provided the following information or completed these specific requirements:
- Paid an entry fee comprised of two parts–the application fee and balance of application fee.
- Submitted forms according to Nasdaq standards (listing, symbol reservation, listing agreement, etc)
- Satisfied certain corporate, liquidity and financial governance requirements before being granted approval for listing on one of Nasdaq’s market tiers–the Global Select, the Capital or the Global Market.
Nasdaq looks at all facets of a company before listing them, from the company’s pre-tax earnings, cash flow and market capitalization to revenue, total assets and finally, the stockholder’s equity.
Recent Status of Inovalon Holdings, Inc.
According to a Reuters article, shares of Inovalon rose 25 percent upon debuting on the Nasdaq, with stock reaching a high of nearly $34. This left the value of Inovalon at approximately $4.9 billion. In addition, Inovalon garnered $600 billion from its initial public offering (IPO) of 22 million class A shares. This achievement made Inovalon the second largest offering so far in 2015, behind Columbia Pipeline Partners LP, which raised one billion from its IPO.