IMS Health files for initial public offering
IMS has yet to set a price range for the offering, nor has it said how many shares will be offered for sale.
Since going private, the company has made a series of acquisitions, including rival business SDI, benchmarking and analytics company TTC, social media analytics firm Semantelli, and, most recently, the life sciences advisory firm Pygargus.
According to its S-1 filing with the Securities and Exchange Commission, IMS’s revenue increased 4% to $1.87bn for the nine months ended 30 September 2013. Operating income increased 60% to $276m.
The company “expects to use the net proceeds from the offering to repay a portion of its existing long-term debt and any remaining proceeds for general corporate purposes”.
Pictured is IMS Health chairman and CEO Ari Bousbib.
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