Agiliti, which provides medical equipment management, rental, and maintenance services, announced terms for its IPO on Thursday.
The Minneapolis, MN-based company plans to raise $500 million by offering 26.3 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Agiliti would command a fully diluted market value of $2.6 billion.
Agiliti believes it is one of the leading experts in the management, maintenance, and mobilization of medical devices, offering a comprehensive suite of medical equipment management and service solutions. Its customer base includes approximately 7,000 active national, regional, and local acute care hospitals, health system integrated delivery networks, and alternate site providers.
Agiliti was founded in 1939 and booked $773 million in revenue for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol AGTI. BofA Securities, Goldman Sachs, Morgan Stanley, BMO Capital Markets, Citi, Jefferies and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of April 19, 2021.
