Flint’s Diplomat Pharmacy Prepares to Go Public

1970

tFlint-based Diplomat Pharmacy Inc. announced today that it has filed for an IPO with the U.S. Securities and Exchange Commission. The number of shares to be sold and the price range for the proposed offering have not yet been determined.

tFounded in 1975, the company — which focuses on medication management programs for people with specialized, long-term medical needs — has seen considerable growth in recent years. According to paperwork filed today with the SEC, the company had revenue of $1.5 billion last year, up from $377 million in 2009.

tPer Diplomat’s registration statement, the company’s leaders expect continued growth “to be driven by a highly visible and recurring base of revenues, favorable demographic trends, advanced clinical developments, expanding drug pipelines, earlier detection of chronic diseases, and improved access to medical care. In addition, we believe that our expanding breadth of services, our growing penetration with new customers, and our access to limited distribution drugs will help us achieve significant and sustainable growth and profitability in the future.”

tTo read the form filed today with the SEC, click here.

tCredit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC are acting as lead book-running managers. Additional book-running managers are J.P. Morgan Securities LLC and Wells Fargo Securities, LLC. William Blair & Company LLC and Leerink Partners LLC are acting as co-managers.

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