Healthcare software firm Benefitfocus eyes IPO -sources

Reuters News
Posted: Mar 20, 2013 4:33 PM

By Olivia Oran

(Reuters) - Benefitfocus, a software company that develops healthcare and benefits technology, has hired banks for an initial public offering later this year, according to two people familiar with the matter.

The company, based in Charleston, South Carolina, is working with Goldman Sachs, Deutsche Bank and Jefferies Group Inc on the offering, the sources said. A filing could come as soon as next month, they added.

Benefitfocus could not be reached for comment. Goldman Sachs, Deutsche Bank and Jefferies declined to comment.

The company's software lets employees enroll and manage their benefits. Benefitfocus works with over 300,000 employers including those in education, food and agriculture, healthcare, manufacturing and retail and supports insurance carriers including Aetna and the Blue Cross Blue Shield network.

(Reporting By Olivia Oran; Editing by Kenneth Barry)