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Three private equity firms make final bids for Ikaria

16 Dec 2013

pharmaceutical 12_sqSpecialty drug company Ikaria has reportedly received three final offers from private equity firms.

American Securities, GTCR and Madison Dearborn Partners have submitted final bids for the business, said Reuters, citing people familiar with the matter.

Ikaria is expected to choose one of the firms for exclusive negotiations imminently, said the sources. It has also received interest from private equity firms BC Partners and Onex Corp, which have dropped out of the bidding process.

The company, which is backed by New Mountain Capital, ARCH Venture Partners and Venrock Associates, could be valued at as much as $2bn, according to an earlier report.

Ikaria’s main drug is INOMAX, which uses nitric oxide gas to treat newborns with breathing problems.

Ikaria considered an IPO in 2010, but decided against it due to market conditions.

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