Waystar, a healthcare payment technology provider, took a step closer to becoming a public company.
On Oct. 16, Waystar Holdings filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission, with the intent of listing on the Nasdaq Global Select Market under the WAY symbol. The company has not determined the number of or price range for shares.
In August, Reuters reported Waystar, which is owned by investment firm EQT Partners, Canada Plan Investment Board and BainCapital, could hit a $8 billion valuation with the IPO. In 2019, the company was valued at $2.7 billion.
Waystar is used by more than 1 million providers and integrates with 530-plus software systems. IT handles 2.5 billion transactions per year and has 5,000 payer connections.