November 18, 2020

Tax Processes Prepare Telehealth Company for IPO

Client Profile

Industry: Healthcare
Entity Type: Pre-IPO Company
Ownership Structure: Venture Capital Backed
Geographic Footprint: U.S. & Israel
Annual Revenue: $149 Million
Number of Employees: 1,000


A telehealth company preparing to go public needed assistance with its tax function for its multinational organization. Historic problems with its tax reporting and controls led it to look for a new provider to prepare for initial public offering (IPO) reporting requirements.


Through a complete reworking of the tax processes and controls, CBIZ helped the company reshape its tax function to meet its expanding and consolidation-rich organizational structure. Our team implemented standardized workpaper templates, streamlined processes, and enhanced overall documentation to easily incorporate recent acquisitions, allow for late accounting changes, and provide for more integration across the entire tax function.

Furthermore, the bulk of the process improvements and tax review took place during the COVID-19 pandemic stay-at-home orders, but with the proper controls already established by CBIZ, the work-from-home arrangements did not disrupt the financial statement issuance or tax reporting timeline.


Our public company tax experience helped the company implement standardized processes and workpaper packages that streamlined quarterly and annual tax reporting. Additionally, we improved tax internal controls, updated international and state and local tax calculations, and identified tax optimization strategies that situated the organization well for its planned IPO.

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Copyright © 2020, CBIZ, Inc. All rights reserved. 

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