Blackstone-Backed Vanguard Health Systems Files for $600 Million IPO
Renaissance Capital IPO Research submits:
Vanguard Health Systems, Inc., which operates 26 acute care and specialty hospitals in five US states, filed on Friday with the SEC to raise up to $600 million in an initial public offering. The Nashville, TN-based company was founded in 1997 and booked $3.6 billion in sales and $337 million in adjusted EBITDA for the 12 months ended December 31, 2010. Vanguard is majority-owned by private equity firm Blackstone Group (BX), which acquired the hospital operator in 2004. Morgan Stanley Capital Partners owns a minority stake in the company. Vanguard Health plans to list on the NYSE under the symbol VHS. Underwriters, pricing terms and timing were not specified for the deal. Vanguard Health Systems' IPOComplete Story »
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