Iqvia Holdings Inc. has announced that its subsidiary, Iqvia Inc., is planning to raise $2,000,000,000 through an offering of senior notes due 2032. The funds raised from this offering will be utilized to repay existing borrowings under the issuer’s revolving credit facility and to cover fees and expenses related to the offering, with any excess proceeds designated for other general corporate purposes.
The company, with approximately 89,000 employees in over 100 countries, specializes in providing clinical research services, commercial insights, and healthcare intelligence to the life sciences and healthcare industries. It leverages its portfolio of solutions powered by IQVIA Connected Intelligence™, which includes health data, healthcare-grade AI™, advanced analytics, and the latest technologies to deliver actionable insights and services. IQVIA is committed to using artificial intelligence responsibly, with AI-powered capabilities built on best-in-class approaches to privacy, regulatory compliance, and patient safety.
In terms of financials, the company's revenue for the last reported quarter was $3.41 billion, representing a 33.7% increase from the same period last year. Its net income for the same period was $170 million, reflecting a significant surge of 263.2% from the previous year. Moreover, its earnings per share (EPS) stood at $0.87, marking an increase of 242.9% compared to the prior year.
As of the most recent financial statements, the company's total assets amounted to $25.72 billion, while its total liabilities were recorded at $16.63 billion. This indicates a strong financial position and the ability to meet its long-term obligations.
The announcement of the senior notes offering aligns with the company's dedication to accelerating the development and commercialization of innovative medical treatments to improve patient outcomes and population health worldwide. IQVIA's commitment to protecting individual patient privacy and leveraging privacy-enhancing technologies distinguishes it as a global leader in generating and analyzing healthcare information at scale while ensuring individual privacy is safeguarded.
The company's continuous focus on utilizing advanced technologies, extensive domain expertise, and a global workforce underscores its commitment to delivering high-quality services and insights to its clients in the healthcare and life sciences industries. The market has reacted to these announcements by moving the company's shares 2.47% to a price of $142.5325. Check out the company's full 8-K submission here.
