inVentiv preps for $100m IPO
According to the S1, which was filed by parent company inVentiv Group Holding, the Burlington, Massachusetts-based contract services organisation hopes to raise $100m by listing on either the New York Stock Exchange or the NASDAQ Global Market.
inVentiv has been owned by US private equity group Thomas H Lee Partners (THL), which acquired the contractor in 2010 for $1.1bn (€845m).
According to the S1, inVentiv generated net revenues of $1.99bn last year, which is an increase of 10.4% year-on-year.
The document also reveals that the firm's clinical trial business generated revenue of $947m, up 8.9%, while its commercial services unit – which helps drug firms launch products – saw sales of $1bn, which is up 12.3% from 2014.
inVentiv claims to have a client base of more than 550 organizations, including the 20 of the largest global biopharmaceutical companies.
It also says that over 80% of all new molecular entities approved by the US FDA and 70% of those approved by the EMA over the last five years "have been developed or commercialized with our support."
