IMS looks to raise $1.37B in IPO

IMS Health Holdings (IMS) and its investors could raise as much as $1.37B when the company prices its NYSE IPO later today, with the firm looking to sell 65M shares at $18-21 each.

However, IMS, which provides data on prescriptions, medical claims and sales to healthcare companies, isn't seen as having an innovative, disruptive model. That's one reason given as to why IMS's enterprise value of up to 14X 2013 EBITDA is relatively low for the industry. Cerner's is 22X and Medidata Solutions' is over 90.

Even at 14X, analyst Les Funtleyder of Bluecloud Healthcare says IMS's valuation is still too high, as it hasn't shown much growth potential.


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