- Associated Press - Thursday, February 12, 2015

NEW YORK (AP) - Two companies in the health care industry made stock market debuts on Thursday. Invitae shares rose after its initial public offering, while shares of Inovalon were flat.

- Inovalon Holdings Inc. is a health technology company based in Bowie, Maryland. Businesses use Inovalon’s online platform to analyze patient data and medical histories to manage care and save costs. Inovalon raised nearly $600 million after selling more than 22.2 million shares at $27 per share. The company said it will use the cash raised for general corporate purposes. Its shares, trading on the Nasdaq stock exchange under the ticker symbol “INOV,” rose as high as $33.75 Thursday but closed unchanged at $27.

- Invitae Corp., based in San Francisco, offers genetic testing for people who want to know if they have genes associated with cancer, heart disease and other conditions. The company raised $101.6 million after selling 6.35 million shares at $16.00 per share. It plans to use the money raise for marketing, research and development and securing more laboratory space. Its stock, trading on the New York Stock Exchange under the symbol “NVTA,” rose $1.05, or 6.6 percent, to close at $17.05 Thursday.


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