Healthcare Economy

IPO FILING: Epocrates Inc. (EPOC)

Epocrates Inc. submitted an SEC filing to come public via an IPO Thursday night. The filing shows a proposed maximum aggregate offering price of $75 million, although this number is for filing purposes only. They applied to trade on the Nasdaq Global Market under the symbol “EPOC.” The underwriters are listed as Citi, Peter Jaffray, William Blair and Company, and Needham & Co.

Epocrates provides medical information support tools to healthcare professional. The company has strong brand recognition and over 500,000 healthcare professionals actively subscribe to use their product, including 1 in 4 doctors and 1 in 3 medical students. The technology allows healthcare professionals to access medical information on various devices, such as Blackberries, Palms, iPhones, desktops and PC’s. The market has seen a growing use of PDA’s or smartphones by physicians and the company believes its strong market position and brand name will create demand for their services. In 2006 and 2007, the company generated $49.5 and $65.6 million, respectively. Income before taxes in 2006 and 2007 were -$1.4 million and $4.6 million, respectively. The company generated enough in 2007 to pull it out of the red and into the green.

Epocrates joins other recent medical industry companies trying to go public. Codexis and Fluidigm also recently submitted their IPO paperwork.

You can join our open email distribution list to hear about other IPO’s, secondary offerings, buybacks, special financings, restructurings and more.

Rachel Lopez
April 18, 2008

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.