Acelity Holdings has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No terms were given in the filing, but the offering is valued up to $1 billion. The company intends to list on the New York Stock Exchange but has yet to decide what symbol to list under.

The underwriters for the offering are JPMorgan, Goldman Sachs, Merrill Lynch, Morgan Stanley, Barclays, Credit Suisse, RBC Capital Markets and UBS Investment Bank.

This is a leading global medical technology company committed to the development and commercialization of advanced wound care and regenerative medicine solutions. Acelity was formed by uniting the strengths of three organizations, KCI, Systagenix and LifeCell, into its two business segments: Advanced Wound Therapeutics (AWT) and Regenerative Medicine. The company’s mission is to change the clinical practice of medicine with solutions that speed healing, reduce complications, create economic value and improve patients’ lives.

The AWT business is focused on the development and commercialization of advanced devices and advanced wound dressings. Acelity’s advanced devices business is primarily engaged in marketing several technology platforms, surgical and incision management and epidermal grafting. The advanced wound dressings business markets wound dressing technologies for the purpose of managing chronic and acute wounds.

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The Regenerative Medicine business is primarily focused on the development and commercialization of regenerative and reconstructive acellular tissue matrices for use in general and reconstructive surgical procedures to reinforce soft tissue defects. It offers tissue matrices for a variety of reconstructive procedures, including post-mastectomy breast reconstruction and the reinforcement of abdominal wall defects. The tissue matrices are engineered to encourage rapid tissue incorporation, reducing morbidity for patients, while providing optimal reconstructive outcomes.

In the filing Acelity described its finances as follows:

For the year ended December 31, 2014 and the six months ended June 30, 2015, we generated revenue of $1,866.3 million and $905.7 million, respectively. For the year ended December 31, 2014 and the six months ended June 30, 2014 and 2015, we generated loss from continuing operations of $235.0 million, $200.9 million and $22.2 million, respectively. We generated Adjusted EBITDA of $712.1 million, $322.0 million and $338.7 million for the year ended December 31, 2014 and the six months ended June 30, 2014 and 2015, respectively.

The company intends to use the net proceeds from this offering to repay all amounts outstanding under its existing senior secured credit facilities, and redeem all outstanding aggregate principal amounts of the second lien notes and the unsecured notes.

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