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TPG-backed IMS Health files for IPO of up to $100 million — Reuters

(Reuters) – IMS Health Holdings Inc, backed by TPG Capital Funds LP, filed with U.S. regulators to raise up to $100 million in an initial public offering of its common stock.

IMS provides prescription data to the pharmaceutical industry, medical device makers, government agencies and other companies in the healthcare sector. Founded in 1954, the company has over 5,000 clients and operates in more than 100 countries, according to its website.

TPG, Canada Pension Plan Investment Board (CPPIB) and Leonard Green & Partners LP took IMS private in 2010 for $5.2 billion, including debt.

Danbury, Connecticut-based IMS Health told the U.S. Securities and Exchange Commission in a preliminary prospectus that JP Morgan, Goldman Sachs, Morgan Stanley and BofA Merrill Lynch were among the underwriters for the IPO. (

Reuters reported last month that the company hired JPMorgan to lead a proposed IPO that could value the private equity-owned healthcare information company at close to $10 billion.

The filing did not reveal how many shares the company planned to sell or their expected price.

The company, which intends to list its common stock on the New York Stock Exchange under the symbol “IMS,” said that net proceeds from the offering would be used for debt refinancing and general corporate purposes.

IMS’s operating income rose to $276 million in the nine months ended September 30, from $173 million a year earlier. Revenue increased 4 percent to $1.87 billion.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.