Jan. 2 (Bloomberg) — IMS Health Holdings Inc., the health care focused information technology company taken private four years ago, filed for a $100 million initial public offering.
The figure is a placeholder used to calculate fees and may change. IMS, backed by Canada Pension Plan Investment Board, TPG Capital and Leonard Green & Partners LP, plans to use the funds for a proposed debt refinancing, according to today's regulatory filing. JPMorgan Chase & Co., Goldman Sachs Group Inc. and Morgan Stanley are managing the IPO.
IMS, which provides prescription data to drugmakers and analysts, posted $1.9 billion in revenue for the first nine months of 2013, with operating margins of 15 percent, according to the filing. The Danbury, Connecticut-based company was said to be considering an IPO as well as a sale process as of last month, possibly seeking a valuation of at least $8 billion, according to people familiar with the situation.
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IMS was acquired by the sponsors for about $5.2 billion including debt in 2010. Since early 2011, IMS has invested $587 million in 22 acquisitions of its own, including Appature Inc. and the consumer-health business of Nielsen Holdings NV, the filing shows.
The company plans to apply to list its shares on the New York Stock Exchange under the symbol IMS.
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