InVentiv Health, the healthcare group that includes agencies like Chandler Chicco Agency and Chamberlain Healthcare PR, is going public.
Burlington, Mass.-based parent company InVentiv Group Holdings filed April 5 for an IPO, listing $100M as its maximum offering price, a placeholder amount. Revenues for 2015 were just under $2B with a loss of $150.6M. Private equity firm Thomas H. Lee Partners is the principal shareholder.
Its companies, and 14,000 employees, cover "lab to life" healthcare services from medical sales and training, clinical trial recruitment, advertising and patient outcome businesses, to PR, which also includes Allidura Consumer and Biosector 2.
The company said it intends to use the IPO proceeds to pay down debt and for general corporate proceeds. Total debt topped $2.1B as of 2015.
Sard Verbinnen & Co.'s New York office is handling IPO PR support.