Livongo Health CEO Glen Tullman. Photo: Kimberly White/Getty Images for TechCrunch

Livongo, a health tech startup that provides diabetes coaching, filed papers for its initial public offering on Friday, a move that's seen as a test for how well such startups may do in public markets, Stat reports.

Between the lines: This new generation of buzzy, venture capital-backed health care companies hasn't produced an IPO since 2016. A second digital health company, Health Catalyst, filed to go public on Thursday.

  • Business Insider reported that the company could be valued at up to $2.5 billion.
  • But while it brought in $68 million in revenue last year, it posted a net loss of $33 million.

Backdrop: Livongo's main source of revenue is self-insured employers, which hire it to monitor and coach employees with chronic diseases — especially diabetes.

  • It said in an SEC filing that its services save over $1,900 a year in gross medical expenses for diabetes patients.

Go deeper

The coronavirus is ushering in a new era of surveillance at work

Illustration: Sarah Grillo/Axios

As companies continue to prepare for the return of their employees to the workplace, they're weighing new types of surveillance in the name of safety.

Why it matters: Just as the coronavirus pandemic has acted as an accelerant for the adoption of remote work, it has also normalized increased surveillance and data collection. In the post-pandemic workplace, our bosses will know a lot more about us than they used to.

Updated 34 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 11,712,663 — Total deaths: 540,582 — Total recoveries — 6,381,954Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 2,981,602 — Total deaths: 131,238 — Total recoveries: 924,148 — Total tested: 36,225,015Map.
  3. 2020: Biden releases plan to strengthen coronavirus supply chain.
  4. Public health: Fauci says it's a "false narrative" to take comfort in lower coronavirus death rate — Deborah Birx: Some Southern states "stepped on the gas" when reopening.
  5. World: Brazil's President Bolsonaro tests positive— India reports third-highest case count in the world.
Updated 2 hours ago - Politics & Policy

Trump administration notifies UN of intent to withdraw from WHO

Photo: Tasos Katopodis/Getty Images

The Trump administration informed the United Nations and Congress on Tuesday that the U.S. is officially beginning the process of withdrawing from the World Health Organization. The UN is now "in the process of verifying with the WHO whether all the conditions for such withdrawal are met," according to a spokesperson.

Why it matters: President Trump's decision to formally withdraw from the UN's global health agency — which will take effect on July 6, 2021 — comes as the pandemic continues to accelerate both in the U.S. and around the world. The U.S. is by far the largest donor to the WHO out of any country, contributing more than 14% of its total budget.