“Initial public offerings (IPOs) are on their way back,” Thomas Fox , UBS head of Global Capital Markets, told CNBC today.

With over 120 deals backlogged, Fox said, "some $25 billion of product" could come into the market over the next 6-9 months, which is very positive.

There are eight deals right now, with six pricing this week. “The backlog of deals are impressive" considering last year at this time the backlogs were almost “nonexistent,” he said.

Thirty percent of the initial public offering deals that have come to market so far have been in technology, media and telecom. Historically, Fox noted, this is the sector that leads us back (in terms of IPOs) because its the most "dynamic growth oriented, they need capital in order grow."

A potential huge IPO that Fox says investors should watch for is HCA (Hospital Corporation of America). "This is the best of breed” and exactly what investors are going to want to focus on, he said, adding, “there is not a question whether they get a deal done, they are just price sensitive.”

HCA, according to reports, is looking to raise as much as $4.5 billion and could start a road show—a presentation of securities to potential investors—within the next couple of weeks.

Related Links:

• CNBC's IPO Calendar
• HCA Files for I.P.O., Seeking $4.6 Billion

"The Strategy Session," hosted by David Faber and Gary Kaminsky, airs weekdays at Noon ET on CNBC.

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