Acute care hospital manager IASIS Healthcare Corp. will go public, the company announced last week, and will uses proceeds from its initial public offering to pay off debts and regain its footing as a for-profit company.
[Also: Fitch Ratings bullish on for-profit healthcare]
The Franklin, Tennessee-based company said share price and number of shares to be offered has not been set, though the company set a maximum offering price of $100 million. Shares will trade on the New York Stock Exchange under the ticker symbol IAS.
According to the Securities and Exchange Commission filing, investment firm TPG Global, which partly owns IASIS, will retain a majority of shares.
J.P. Morgan, Barclays, BofA Merrill Lynch, Evercore ISI, Goldman Sachs, Citigroup and BMO Capital Markets all will serve as underwriters in the IPO.
IASIS runs 15 acute care hospitals and one behavioral hospital across Arizona, Colorado, Utah, Arkansas, Louisiana and Texas, as well as a network of clinics and outpatient centers.
According to the Nashville Business Journal, IASIS will become the fourth publicly held healthcare company in the area.
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