Health care software maker Castlight surges nearly 1.5 times on first-day launch
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Last Update: 2020-06-03
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Source: Internet
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Author: User
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Business, March 17 (UPI) -- Health care software maker Castlight Health (NYSE: CSLT) was officially listed on the New York Stock Exchange on FridayOn its first day of trading, its popularity, the share price soared nearly 1.5 times, outperforming the marketclose, Castlight Health shares closed up 148.75 percent at $39.8Shares climbed as high as $41.95 in intraday tradingGoldman Sachs and Morgan Stanley were the lead underwriters of the IPO, which was priced at $16 a share and raised about $178 mSan Francisco, California-based Castlight Health primarily provides personalized healthcarehealthtrading platforms to help people better understand the price of medical services and the quality of certain providersCastlight has gained favor from employers who self-insured employeesIt helps companies create online spaces that support access to mobile clients, allowing employees to choose the most cost-effective treatmentbased based on transparent price, quality, and health-care deductiblesSince it is in the United States that employers arrange managed health plans for employees and choose from employees, each employee has the right to choose his or her own managed health care provider and pay a certain amount of annual health insurance costs
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