U.S. Healthcare Stock Surges 9% Despite Large Sell-off, Triples IPO Price

BrightSpring Health Services Inc. (NASDAQ: BTSG) shares closed at $42.44, up 8.68% on Nasdaq.

Trading volume reached 3.78 million shares, and market capitalization stood at roughly $8.2 billion (about KRW 11 trillion), with an intraday gain of approximately $780 million (around KRW 1 trillion).

According to a recent SEC filing, BrightSpring has entered into an underwriting agreement to sell 20 million shares at $41.15 per share, raising about $820 million (approximately KRW 1.1 trillion).

Founded in 1974 and headquartered in Louisville, Kentucky, BrightSpring operates a platform that delivers home- and community-based healthcare and pharmacy services to patients with complex chronic and high-risk conditions across the United States.

Private equity firm KKR acquired BrightSpring in 2019 for about $1.32 billion (KRW 1.8 trillion) and took it public on Nasdaq in January 2024 at $13 per share. Since its IPO, the company has expanded through mergers and acquisitions and business restructuring.