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Health-Care Software Firm Castlight Near $1B IPO

Castlight Health will be in the spotlight, coming to market with a valuation of more than $1 billion, after pricing its IPO above range at $16 a share. In a sign investors remain hot on health care IPOs, the health IT firm raised $178 million after boosting its offering to 11.1 million shares, according to Renaissance Capital.

“In general across the market, we’re seeing a broader focus on consumerism in health care,” said Michael Cherny, a health IT analyst with ISI Group. “Castlight is providing it to members.”

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