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Alignment Healthcare Files IPO

Alignment Healthcare Inc., an Orange-based Medicare Advantage insurance provider begun by John Kao in 2013, has filed a prospectus for an initial public offering.

“Alignment is a next generation, consumer-centric platform that is revolutionizing the healthcare experience for seniors,” the prospectus said. “We deliver this experience through our Medicare Advantage plans, which are customized to meet the needs of individual seniors across the United States.”

The company generated $959.2 million in revenue in 2020, up 27% from the prior year. Its net loss narrowed to $22.9 million from $44.7 million in 2019. 

The company listed a $100 million placeholder figure as the amount it is trying to raise. 

The percentage of ownership wasn’t initially disclosed. General Atlantic, Warburg Pincus and Fidelity Investments each own more than 5% of the shares, the prospectus said.

Underwriters include Goldman Sachs, Morgan Stanley and J.P. Morgan.

Look for a detailed article in the March 15 issue of the Business Journal.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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