Lumexa Imaging, backed by private equity firm Welsh, Carson, Anderson & Stowe, is preparing to raise up to $500m in a US IPO that would value the company at more than $1.89bn.

The medical imaging operator plans to sell 25m shares at $17 to $20 each as private equity firms accelerate long-delayed exit plans amid stronger equity markets and falling interest rates. First-time listings saw their busiest autumn in four years before political gridlock in Washington paused activity.

Lumexa runs 184 outpatient centres across 13 states, offering MRI and CT diagnostic services. Its IPO comes as AI-driven imaging tools gain traction, promising greater accuracy, lower costs, and wider patient access.

The company aims to trade on Nasdaq under the symbol LMRI. Barclays, J.P. Morgan, and Jefferies are leading the underwriting syndicate.

Lumexa’s flotation joins several year-end offerings, including Cardinal Infrastructure Group’s IPO, as sponsors move to clear a sizeable backlog of portfolio companies positioned for public markets.

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