Guardian Pharmacy Services, based in Atlanta, is set to go public with an initial public offering (IPO) aiming to raise up to $108 million by offering 6.75 million shares priced between $14 and $16 each, potentially achieving a valuation of approximately $974 million. The company, which serves long-term healthcare facilities in 36 states and operates 50 pharmacies serving around 174,000 residents, reported $1.1 billion in sales for the year ending June 30, 2024. The IPO follows a trend of increasing healthcare IPOs amidst expectations of interest rate cuts by the U.S. Federal Reserve. Raymond James, Truist Securities, and Stephens Inc. are underwriting the offering. Guardian Pharmacy plans to utilize a significant portion of the funds to facilitate a merger and pay down existing debt. Competitors include Omnicare, BrightSpring Health Services, and PharMerica Corporation.