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.
A long-time follower of the IPO scene, back in 1999 Tom started one of the first sites in the space called WebIPO. It was a place where investors got research as well as access to deals for the dot-com boom. Tom also wrote the top-selling book, Investing in IPOs. In it, he covers all the aspects of analyzing an IPO, such as reading the prospectus, detecting the risk factors and understanding some of the arcane regulations. But don’t worry — if that process is too intimidating for you, thankfully Tom will do the legwork for you right here in the IPO Playbook blog.
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