(Reuters) -Healthcare platform agilon health gained a valuation of nearly $11 billion in its market debut on Thursday, after the company’s shares opened 23% above their offer price. At $11 billion, agilon would be worth more than the combined valuation of private equity-backed Alignment Healthcare and Alphabet-backed Oscar Health Inc, other healthcare-focused companies that went public recently. Agilon’s shares opened at $28.25 per share, up from their IPO price of $23 per share. On Wednesday, agilon priced its offering of 46.6 million shares at the top end of the range at $23 each, to raise more than $1 billion in its IPO. Founded in 2016, agilon helps connect primary care physicians with patients who are mostly senior citizens. The company’s platform has around 210,000 patients enrolled in Medicare Advantage plans. Medicare Advantage plans refer to the benefits that are offered to seniors and are administered by private insurance companies. The firm is controlled by an investment fund associated with Clayton Dubilier & Rice, a private equity firm based in New York. The fund will hold 58% of the company’s stock after the completion of the IPO. The IPO market in the U.S. has enjoyed a bull run this year, with shares of heavyweight companies such as cryptocurrency exchange Coinbase Global Inc and gaming platform Roblox Corp all popping in their market debuts.