Investors who missed out on the Snowflake (SNOW -1.93%) initial public offering (IPO) might not want to pay double the price for its shares now, especially while it trades at over 100 times its annualized sales. Another company that's debuting on the market next week should be on investor's radars instead.

Amid the most polarized political climate in years, GoodRx will help drive healthcare in a direction embraced by both sides of the aisle. 

Platform for savings

The quality and cost of healthcare are of top concern to both working-age and retired Americans. These concerns weren't created by the COVID-19 pandemic, but they surely have been magnified by it. Even prior to the spread of the coronavirus in the U.S., a February NBC News/Commonwealth Fund poll showed over 30% of those polled said they are very or moderately worried about costs for their health insurance premiums and deductibles, out-of-pocket costs for prescription drugs, and other healthcare.

GoodRx aims to ease those concerns as well as costs. Its goal is to "solve the challenges that consumers face in understanding, accessing, and affording healthcare." In addition to being a price comparison tool for prescriptions, the platform provides transparency for pricing of telehealth consultations and other healthcare information and services. 

Bipartisan support

GoodRx's business helps fulfill a need that will likely be addressed regardless of who is in the White House or Congress. GoodRx says 20% to 30% of all prescriptions are left at the pharmacy because consumers can't afford them. This exacerbates the burden on the healthcare system as patients then may need to seek more medical care, and end up going to the emergency room, further straining the system. 

GoodRx not only helps consumers afford medication that should break that chain of events at the start, but also provides a platform for easy access to primary or other care settings which can replace emergency room visits. The company likens its tech-enabled solution to the ease with which consumers already shop for airline tickets, rental cars and homes. 

Growing opportunities

GoodRx says it has already saved consumers a cumulative $20 billion and reports 4.4 million monthly active consumers in the second quarter of 2020 along with 15 million monthly visitors.  

The company plans to expand its platform to create "multiple monetization opportunities at different stages of the consumer healthcare journey." Growth of the platform should easily be driven to the company's bottom line due to low customer acquisition costs. 

Investor interest

The company's financials should also garner interest from investors. GoodRx said its revenue has grown at a compound annual growth rate of 57% since 2016. Net income grew by 50% in 2019 to $66 million. 

Unlike Snowflake, GoodRx will be an IPO that can be valued against earnings, not just revenue. The business is not without risks, however. It currently relies heavily on its prescription offering and is not in control of medication pricing or pricing structures that the pharmaceutical industry negotiates. 

But the company has a first-mover advantage, a diversifying platform, and a known brand. It plans to list on the Nasdaq stock exchange on Sept. 22 and investors should pay close attention.