LifeStance Health Group, Inc.
Note: LifeStance Health Group delivers mental health services via an online delivery platform and in person at health centers. Of the 40 million shares in the IPO, 7.2 million shares are being offered by selling stockholders. From the prospectus:
Our vision is a truly healthy society where mental and physical healthcare are unified to make lives better. Our mission is to help people lead healthier, more fulfilling lives by improving access to trusted, affordable and personalized mental health care. To fulfill this mission, we have built one of the nation’s largest outpatient mental health platforms based on number of clinicians and geographic scale.
We are dedicated to improving the lives of our patients by reimagining mental health through a disruptive tech-enabled in-person and virtual care delivery model built to expand access and affordability, improve outcomes and lower overall health care costs. We combine a personalized, digitally-powered patient experience with differentiated clinical capabilities and in-network insurance relationships to fundamentally transform patient access to mental health treatment. By revolutionizing the way mental health care is delivered, we believe we have an opportunity to improve the lives and health of millions of individuals.
We employed over 3,300 licensed mental health clinicians through our subsidiaries and affiliated practices across 73 MSAs in 27 states as of March 31, 2021. Our clinicians offer patients a comprehensive suite of mental health services, spanning psychiatric evaluations and treatment, psychological and neuropsychological testing, and individual, family and group therapy. We treat a broad range of mental health conditions, including anxiety, depression, bipolar disorder, eating disorders, psychotic disorders and post-traumatic stress disorder. Patients can receive care virtually through our online delivery platform or in-person at one of our conveniently located centers. Through our more than 200 payor relationships, including national agreements with multiple payors, patients can utilize their in-network benefits when they receive care from one of our clinicians, enhancing access and affordability.
Mental illness is a large and growing crisis that creates a significant burden on the healthcare ecosystem. According to the Kaiser Family Foundation, only 27% of total mental health needs are met at a national level in the United States.
(Note: LifeStance Health priced its IPO on June 9, 2021, at $18 – $1 above its $15-to-$17 price range – on 40 million shares, the same number of shares as in the prospectus – to raise $720 million.)
|Industry:||Services - Health Services|
|Address||4800 N. Scottsdale Road, Suite 6000, Scottsdale, AZ 85251|
|Phone Number||(425) 279-8500|
|View Prospectus:||LifeStance Health Group, Inc.|
|Revenues||$377.22 mil (last 12 months)|
|Net Income||$-270.91 mil (last 12 months)|
|Price range||$18.00 - $18.00|
|Est. $ Volume||$720.0 mil|
|Manager / Joint Managers||Morgan Stanley/ Goldman Sachs/ J.P. Morgan/ Jefferies/ TPG Capital BD LLC/ UBS Investment Bank/ William Blair|
|CO-Managers||Capital One Securities/AmeriVet / Drexel Hamilton/ R. Seelaus & Co./ Siebert Williams Shank|
|Expected To Trade:||6/10/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|