Value-based healthcare platform Signify Health is making its debut on the New York Stock Exchange today with an initial public offering of 23,500,000 shares of its Class A common stock at $24 per share.

The company upwardly revised its IPO twice since filing with the Securities and Exchange Commission last month. It originally planned to offer 23.5 million shares priced between $17 and $19, and then upped the price range to $20 to $21.

With the IPO, Signify Health now has a valuation of more than $5.3 billion, according to the company.

Signify Health is also offering the underwriters a 30-day option to purchase an additional 3,525,000 shares at the IPO price less underwriting discounts and commissions.

The shares will be traded under the ticker symbol SGFY. The offering is expected to close on February 16.

WHY THIS MATTERS

With the money raised from the IPO, Signify Health will pay off the fees connected with the offering, as well as any general corporate expenses. It will also use the proceeds to invest in, or potentially acquire, other businesses or technologies that complement Signify Health’s expansion efforts, according to its announcement.

Signify Health’s platform works with providers and payers to create value-based payment programs. It combines technology and analytics to align financial incentives around outcomes. The platform also offers tools for its users to assess and manage risk. Through it, the company searches for ways to improve patient outcomes and reduce costs.

THE LARGER TREND

Before setting its sights on the public market, Signify Health moved into the blockchain space with its acquisition of PatientBlox. The deal allowed Signify Health to speed up its prospective provider payment capabilities and to expand its foothold in the value-based-care space.

The company also flexed its partnership with Independence Blue Cross to launch CommunityLink, a community-based-organization network targeting social determinants of health in the Philadelphia region. The program is designed to break the barriers between social and clinical care by helping people gain access to nonmedical health services such as food, housing, transportation and more, the companies said.

Signify Health is among a growing list of digital health companies to go public within recent months, including Oscar, 23andMe, Hims and Hers, Talkspace, Amwell and Butterfly Network.