Quintiles, which is the largest provider of outsourcing services for the healthcare industry, has filed to go public. The lead underwriters include Morgan Stanley (NYSE:MS), Barclays (NYSE:BCS) and J.P. Morgan Chase (NYSE:JPM). The company may raise as much as $600 million.
Founded more than 30 years ago, Quintiles has turned into a massive company, with operations in 100 countries and a workforce of over 27,000 employees. The firm helps biotech operators and pharma companies with such things as managing clinical trials, analytics and medical research.
Quintiles has also developed a sophisticated digital platform which has data on more than 40 million patients. To pull this off, the company has partnered with Eli Lilly (NYSE:LLY) and Allscripts Healthcare Solutions (NASDAQ:MDRX) to develop cutting-edge tools. In fact, Quintiles has over 60 patents on its technologies.
In 2012, revenues came to $3.7 billion, up 12% from $3.3 billion in the same period a year ago. During this period, adjusted EBITDA went from $490.4 million to $543.7 million.
It was back in 2008 that Bain and TPG took Quintiles private in a $3.8 billion transaction. Thus, with the upcoming IPO, the company will like pay down some of its debt load, which is currently at $2.4 billion.
Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of “How to Create the Next Facebook” and “High-Profit IPO Strategies: Finding Breakout IPOs for Investors and Traders.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.