Medpace Holdings Inc., which provides clinical-development services for drug and medical-device companies, Friday disclosed its plans for an initial public offering.

The Cincinnati company first submitted confidential IPO paperwork in March. It plans to use proceeds to repay debt.

In 2014, European private-equity firm Cinven bought Medpace from buyout firm CCMP Capital Advisors LLC for $921.3 million.

The sector has been popular in recent years. Quintiles Transnational Holdings Inc., which went public in 2013, said in May that it would merge with health-care software and data company IMS Health Holdings Inc. in an all-stock deal valued at about $8.75 billion.

Medpace said the industry over all is likely to have strong growth due to trends like increasing biotech growth, more complex drug trials and the need for drug companies to replenish pipelines. The company said its own strengths include a full-service model that is "particularly attractive to small- and midsize biopharmaceutical companies, which seek specialized capabilities and infrastructure required for complex and global clinical trials."

Medpace filed to offer up to $150 million but that is a placeholder amount likely to change. Jefferies and Credit Suisse are joint lead book-running managers of the planned IPO.

The company reported revenue of $248.5 million last year. It said it has achieved significant growth in revenue and adjusted earnings before interest, taxes, depreciation and amortization over the past several years.

Medpace intends to trade on Nasdaq under the symbol "MEDP."

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

June 24, 2016 17:45 ET (21:45 GMT)

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