The Danbury, Conn.-based company, which provides analytics and consulting services to more than 5,000 clients in the healthcare sector, filed Thursday with the Securities and Exchange Commission for an initial public offering of $100 million. The $100 million figure is used to calculate registration fees with the SEC and could become upwards of $750 million when the deal occurs, according to IPO investment firm Renaissance Capital.
IMS Health files for IPO
IMS Health was acquired nearly four years ago when affiliates of TPG Global, CPP Investment Board Private Holdings and Leonard Green & Partners purchased the company in a leveraged buyout for just under $6 billion. In the succeeding years, IMS Health has invested approximately $587 million in 22 acquisitions, including Seattle-based software-as-a-service company Appature and Web-based analytics company PharmaDeals.
The company plans to use the net proceeds from the IPO to repay a portion of its long-term debt, which was approximately $4.9 million when the company reported its most recent quarterly earnings as of Sept. 30, 2013, according to a release from IMS Health. For the nine months ended Sept. 30, IMS Health showed revenue of close to $1.9 billion.
JPMorgan Chase & Co., Goldman Sachs Group and Morgan Stanley are managing the IPO. IMS Health said the company plans to apply to list its common stock on the New York Stock Exchange using the symbol IMS.
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