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Private equity-backed biopharma Quintiles considers IPO

28 Jan 2013

Biopharmaceutical research group Quintiles Transnational Corp is in talks about a potential IPO, Reuters has reported, with banks including JPMorgan Chase & Co and Deutsche Bank in the running to handle the listing.

The company is backed by private equity firms Bain Capital and TPG Capital, which invested in the company in January 2008, taking a stake from One Equity Partners.They joined an investor group consisting of sovereign wealth fund Temasek and Quintiles founder and CEO Dennis Gillings. The deal valued the company at around $3.8bn.

Its revenue to the 12 months ended in June 2012 amounted to $3.5bn. The company has 27,000 employees working in more than 80 countries.

Quintiles paid a dividend to its private equity backers following the arrangement of a $475m loan in 2012. The company also refinanced an existing $2bn loan last December, Reuters said.

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