Healthcare authentication software provider Imprivata sets terms for $75 million IPO
Imprivata, which provides secure access management software
for the health care industry, announced terms for its IPO on
Wednesday. The company's OneSign platform eliminates multiple
log-ons and allows physicians, nurses and staff easy and secure
access to healthcare systems across devices. The Lexington,
MA-based company plans to raise $75 million by offering 5.0
million shares at a price range of $14 to $16. At the midpoint of
the proposed range, it would command a fully diluted market value
of $387 million.
Imprivata, which was founded in 2001 and booked $76 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol IMPR. It initially filed confidentially on January 17, 2014. J.P. Morgan, Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of June 23, 2014.