Agiliti, which provides medical equipment management, rental, and maintenance services, raised $368 million by offering 26.3 million shares at $14, well below the range of $18 to $20.
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. The company delivers its solutions through its nationwide network of 98 service centers and 7 Centers of Excellence. Its fees are paid directly by its customers rather than by direct reimbursement from third-party payors.
Agiliti 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 acted as joint bookrunners on the deal.
