Lumexa Imaging shares rise in market debut

Investing.com -- Shares of Lumexa Imaging Holdings Inc. debuted on Nasdaq 0.8% higher on Thursday, after the health-care company raised $462.5 million in its U.S. initial public offering.

The company’s stock opened at $18.65 per share in New York trading, above its IPO price of $18.50, which was set at the mid-point of its marketed range of $17 to $20 per share. Lumexa sold 25 million shares in the offering.

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The market debut gives the Raleigh, North Carolina-based firm a market value of $1.76 billion, based on outstanding shares listed in its regulatory filings.

Lumexa, which was established in 2018 as US Radiology Specialists, manages a chain of diagnostic imaging providers. The company is backed by private equity firm Welsh Carson Anderson & Stowe.

As of September 30, Lumexa operated 184 diagnostic imaging centers across 13 states. The company’s network includes subsidiaries and variable interest entities such as Windsong Radiology Group and Charlotte Radiology.

Advanced imaging procedures, including MRI and CT scans, generated 63% of Lumexa’s system-wide revenue in the nine months ended September 30, according to company filings.

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