Lumexa Imaging, a US diagnostic imaging services provider backed by private equity firm Welsh, Carson, Anderson & Stowe (WCAS), has raised $462.5m through an initial public offering, according to a report by Reuters. The flotation values the Raleigh, North Carolina-based business at $1.75bn.
The company sold 25 million shares at $18.50 each, within its marketed range of $17 to $20. Formerly known as US Radiology Specialists, Lumexa was formed in 2018 through a partnership between Charlotte Radiology and WCAS. The group has expanded through more than a dozen acquisitions and now operates 184 imaging centres across 13 US states.
For the nine months to 30 September, Lumexa reported a net loss of $18.4m on revenues of $755.3m, compared with a $69m loss on revenues of $700.8m a year earlier. Barclays, JP Morgan, and Jefferies acted as joint lead bookrunners. Lumexa will trade on Nasdaq under the ticker LMRI.
