Medpace Holdings, Inc. filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). There were no pricing details mentioned in the filing but the offering is valued up to $150 million. The company intends to list its shares on the NASDAQ Global Market under the symbol MEDP.
The underwriters for the offering are Jefferies, Credit Suisse, UBS Investment Bank, Wells Fargo, Baird, and William Blair.
This is one of the world’s leading clinical contract research organizations (CROs), by revenue, solely focused on providing scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries.
Medpace’s mission is to accelerate the global development of safe and effective medical therapeutics. The company differentiates itself from competitors by a “disciplined operating model centered on providing full-service Phase I-IV clinical development services” and therapeutic expertise.
The company believes this combination results in timely and cost-effective delivery of clinical development services for customers. Medpace believes that it is a partner of choice for small- and mid-sized biopharmaceutical companies based on its ability to consistently utilize a full-service, disciplined operating model to deliver timely and high-quality results for our customers. Accordingly, Medpace believes it is well positioned to continue to expand market share and sustain margins in the growing $23 billion overall Phase I-IV CRO market.
In the filing the company described its finances as:
For the Successor year ended December 31, 2015, we generated total net service revenue of $320.1 million and Adjusted EBITDA of $101.2 million, representing net service revenue and Adjusted EBITDA compound annual growth rates, or CAGRs, of 21.7% and 26.2%, respectively, since 2012. Our net (loss) income for the Successor year ended December 31, 2015, the Successor nine month period ended December 31, 2014, the Predecessor three month period ended March 31, 2014 and the Predecessor year ended December 31, 2013 was $(8.7) million, $(14.3) million, $(1.2) million and $24.8 million, respectively.
The net proceeds from this offering are intended to be used to repay its debt and for general corporate purposes.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
