IPO Filing: Medidata Solutions, Inc. (MDSO)

January 26, 2009 by Douglas A. McIntyre

Money_stack_pic_3Medidata Solutions, Inc. has filed with the SEC to come public via an initial public offering.  The company has applied to take the ticker “MDSO” on NASDAQ.

Citigroup and Credit Suisse were listed as the joint book-runners on the deal, and co-managers are listed as Jefferies & Company and Needham & Company.

Terms of the deal were not disclosed, but for filing purposes the formlisted that it would sell up to $86.250 million in shares of commonstock.

Medidata is a provider of hosted clinical development solutions ofcustomers’ clinical development processes and optimization for theirresearch and development investments.  Its customers includepharmaceutical, biotechnology, medical device companies, academicinstitutions, contract research organizations, and other organizationsengaged in clinical trials. 

For 2007, it generated $86.3 million in revenues, up 71.% over 2006revenues of $50.5 million; and for the nine months ended September 30,2008, it had $84.8 million in revenues, a gain of 37.6% over revenuesof $61.6 million in the comparable period in 2007. The company’slargest customers by revenues in the nine-month period ended September30, 2008 are listed as Johnson & Johnson (NYSE: JNJ), AstraZeneca(NYSE: AZN), Amgen (NASDAQ: AMGN), Astellas Pharma and TakedaPharmaceutical.

Jon C. Ogg
January 26, 2009