Health In Tech, Inc. reports developments as an AI-enabled InsurTech platform company serving the self-funded health insurance market. Its marketplace connects brokers, third-party administrators, managing general underwriters and carriers with employer health plan functions including plan customization, bindable stop-loss quotes, AI-enabled underwriting, claims administration and reporting integration.
Company news commonly covers financial results, investor presentations, technology development, product-capability updates, distribution expansion and capital actions. Updates also address collaborations tied to cloud architecture, data engineering and platform analytics, along with leadership changes affecting the company's technology organization.
Health In Tech has announced a strategic collaboration with Vitable and MARPAI to launch a competitively priced self-funded health plan. The partnership combines Vitable's Direct Primary Care (DPC) model with MARPAI's self-funded health plans, integrated through Health In Tech's eDIYBS platform.
Vitable's enhanced primary care plan offers both in-person and virtual primary care access, mental health programs, free prescription drugs, lab work, and care navigation for households under a low monthly fee with $0 out-of-pocket costs. The collaboration aims to leverage Vitable's cost containment capabilities, which have been validated by third-party actuarial firms and reinsurance carriers.
The new offering is immediately available through Health In Tech's eDIYBS platform, targeting improved healthcare accessibility and cost reduction while maintaining high member satisfaction rates.
Health In Tech (Nasdaq: HIT), an AI-backed Insurtech platform company, has announced its participation in The Microcap Conference 2025, scheduled for January 28-30, 2025, at the Borgata Hotel Spa & Casino in Atlantic City, New Jersey. The company's management team will present their corporate strategy and hold one-on-one meetings with institutional and individual investors to discuss recent developments and growth plans.
Health In Tech (Nasdaq: HIT), an AI-powered Insurtech platform company, has announced its participation in The Microcap Conference 2025. The event will be held from January 28-30, 2025, at the Borgata Hotel Spa & Casino in Atlantic City, New Jersey. The company's management team will present their corporate strategy and conduct one-on-one meetings with institutional and individual investors to discuss recent developments and growth plans.
Health In Tech has successfully completed its Initial Public Offering (IPO), selling 2,300,000 shares of Class A common stock at $4.00 per share, raising gross proceeds of $9,200,000. The company granted the underwriter a 30-day option to purchase an additional 345,000 shares, potentially increasing total gross proceeds to $10,580,000.
The net proceeds will be utilized for system enhancements, expansion of service offerings, sales and distribution channels, talent development and retention, working capital, and general corporate purposes. American Trust Investment Services acted as the sole book-running manager for the offering, which was conducted through a Form S-1 registration statement that became effective on December 19, 2024.
Health In Tech, an Insurtech platform company, has announced the pricing of its initial public offering (IPO) of 2,300,000 shares of Class A common stock at $4.00 per share. The company will begin trading on the Nasdaq Capital Market on December 23, 2024, under the ticker symbol HIT. The underwriter has a 30-day option to purchase up to 345,000 additional shares.
The IPO is expected to close on December 24, 2024. The company plans to use the proceeds for system enhancements, service offerings expansion, sales and distribution channels growth, talent development, and working capital. American Trust Investment Services is serving as the sole book-running manager for the offering.