The IPO for IMS Health Holdings, Inc. (NYSE: IMS) opened for trading at $22.18 after 65,000,000 shares shares at $20, near the high end of the expected $18-$21 range. Shares last traded at $22.16, up 10.8%.
In the offering 52,000,000 shares were sold by IMS Health and 13,000,000 shares to be sold by selling shareholders. In addition, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 9,750,000 shares ofcommon stock
at the public offering price, less underwriting discounts and commissions.
at the public offering price, less underwriting discounts and commissions.
J.P. Morgan Securities LLC, Goldman, Sachs & Co., and Morgan Stanley & Co. LLC are acting as joint book-running managers and as representatives of the underwriters for the offering. In addition, BofA Merrill Lynch, Barclays, Deutsche Bank Securities, and Wells Fargo Securities are joint book-running managers for the offering and TPG Capital BD, LLC, HSBC, SunTrust Robinson Humphrey, Mizuho Securities, RBCCapital Markets, Piper Jaffray, William Blair, Drexel Hamilton, Leerink Partners and Stifel are acting as co-managers for the offering.
, Piper Jaffray, William Blair, Drexel Hamilton, Leerink Partners and Stifel are acting as co-managers for the offering.
IMS Health is a leading global information and technology services company providing clients in the healthcare industry with comprehensive solutions to measure and improve their performance. By applying sophisticated analytics and proprietary application suites hosted on the IMS Oneintelligent cloud, the company connects more than 10 petabytes of complex healthcare data on diseases, treatments, costs and outcomes to help its clients run their operations more efficiently. Drawing on information from 100,000 suppliers, and on insights from more than 45 billion healthcare transactions processed annually, IMS Health’s approximately 9,500 employees drive results for healthcare clients globally. Customers include pharmaceutical, consumer health and medical device manufacturers and distributors, providers, payers, government agencies, policymakers, researchers and the financial community.
drive results for healthcare clients globally. Customers include pharmaceutical, consumer health and medical device manufacturers and distributors, providers, payers, government agencies, policymakers, researchers and the financial community.
Financial highlights from the company:
-- Revenue increased to $2.51 billion, generating a CAGR of 5.6% on an as reported basis and 5.9% on a constant dollar basis;
-- Adjusted EBITDA increased to $819 million, generating a CAGR of 10.7% on an as reported basis and 11.0% on a constant dollar basis; and
-- Adjusted EBITDA as a percentage of revenue increased to 32.6% from 28.6%.
-- The company incurred a net loss of $53 million for the twelve month period ended September 30, 2013, and a net loss of $203 million for the combined 2010 year-end period.
-- Revenue increased to $2.51 billion, generating a CAGR of 5.6% on an as reported basis and 5.9% on a constant dollar basis;
-- Adjusted EBITDA increased to $819 million, generating a CAGR of 10.7% on an as reported basis and 11.0% on a constant dollar basis; and
-- Adjusted EBITDA as a percentage of revenue increased to 32.6% from 28.6%.
-- The company incurred a net loss of $53 million for the twelve month period ended September 30, 2013, and a net loss of $203 million for the combined 2010 year-end period.
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