Performance Health Holdings has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No pricing details were listed in the report, but the offering is valued up to $100 million, although this number is usually just a placeholder. The company intends to list on the Nasdaq Global Market under the symbol PHC.
The underwriters for the offering are Credit Suisse, Jefferies, Baird, UBS Investment Bank, William Blair and SunTrust Robinson Humphrey.
This is a fast-growing, highly profitable, global consumer branded health, wellness and self-care company. Its products, distributed through clinical and retail channels both in the United States and internationally, help consumers accelerate recovery, relieve pain, increase strength, improve performance and enhance their quality of life. Performance Health believes that hands-on health care practitioners trust and embrace its brands, as demonstrated by high in-clinic usage and recommendations to their patients and clients, who in turn can purchase products directly from their practitioner or at retail.
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This practitioner recommendation enhances the brands’ visibility, credibility and loyalty among consumers and is an important competitive advantage that also drives retail demand. The company believes the demand for its market leading brands, as well as the growth of its business, will continue to be supported by secular shifts in consumers’ increasingly active lifestyles, an aging population and lower-cost self-care.
The company intends to use the proceeds from this offering to prepay some or all of the outstanding principal on the term loan under its second lien credit facility. The remainder of the proceeds will be used for working capital and general corporate purposes.
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