Epocrates Inc., a San Mateo, Calif.-based provider of clinical information and support tools to healthcare professionals, has withdrawn plans for a $75 million IPO. It had planned to trade on the Nasdaq, with Citi serving as lead underwriter.
In a letter to the SEC, Epocrates said that the IPO would have been “discretionary financing.”
The company has raised over $86 million in VC funding, from firms like The Sprout Group (17% stake), Goldman Sachs (16%), InterWest Partners (12.7%), Draper Fisher Jurvetson (10.4%), Three Arch Partners (10.3%) and Bay City Capital (7.3%). www.epocrates.com