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TPG-backed IMS Health to raise up to $100M in New York IPO

(Credit: IMS Health Holdings Inc.) Image shows a logo of IMS Health Holdings Inc.IMS Health Holdings Inc.
January 2
11:12 PM 2014

Connecticut-based IMS Health Holdings Inc has filed with US regulators a proposed fundraising of up to $100 million in an initial public offering of its common stock at the New York Stock Exchange. IMS is backed by private equity fund TPG Capital Funds LP.

According to Reuters, IMS told the US Securities and Exchange Commission in a preliminary prospectus that investment banks JPMorgan Chase & Co., Goldman Sachs Group, Morgan Stanley and Bank of America Merrill Lynch were among the underwriters for the IPO.

The filing did not reveal how many shares the company planned to sell or the shares' expected price, the report said. IMS, however, said the net proceeds from the IPO would be used for debt refinancing and general corporate purposes.

TPG, Canada Pension Plan Investment Board (CPPIB) and investment firm Leonard Green & Partners LP took IMS private in 2010 for $5.2 billion, including debt, Reuters said. 

IMS provides prescription data to the pharmaceutical industry, medical device markets, government agencies and other companies in the healthcare sector. It has over 5,000 clients and operates in over 100 countries, the report said.  

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