Tags: US | HCA | IPO

Hospital Operator HCA Files for $4.6 Billion IPO

Friday, 07 May 2010 10:59 AM

 

Hospital chain HCA Inc. said Friday it plans to raise $4.6 billion in an initial public offering of common stock, nearly four years after it completed a leveraged buyout to go private.

The Nashville, Tenn., company didn't set a price for the shares or say how many it plans to sell. But it said in a Securities and Exchange Commission filing that it expects gross proceeds of about $2.5 billion, not including any extra shares it may sell to its underwriters to cover excess demand for the offering. It will use the funds to pay down some of its $26.86 billion in debt, and for general corporate purposes.

HCA, which operates 162 hospitals and 106 surgery centers in 20 states and the United Kingdom, first went public in 1969. In 2006, a group of investors including Bain Capital, Kohlberg Kravis Roberts and Merrill Lynch Global Private Equity, took the company private in a $21-billion leveraged buyout.

The company said its first-quarter profit rose 8 percent to $388 million, from $360 million, a year earlier. Revenue rose 1.5 percent to $7.54 billion.

HCA also said its charity care and uninsured discounts jumped 43 percent to $1.58 billion in the quarter.

BofA Merrill Lynch, Citi and J.P. Morgan are leading a large group of underwriters that also includes Barclays Capital, Credit Suisse, Deutsche Bank Securities, Goldman Sachs & Co., Morgan Stanley, and Wells Fargo.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Senate GOP Debates What to Do Next With Iran Sanctions Bill

Friday, 30 Jan 2015 18:24 PM

Now that an Iran economic sanctions bill has made it out of committee, Senate Republicans are debating how to proceed. . . .

Shocking French Video Aims to Stop ISIS Seduction of Young People

Friday, 30 Jan 2015 18:22 PM

The French government has released a shocking video filled with brutal scenes of death in Syria in an attempt to convinc . . .

Fox Analyst: In Every Negotiation, Obama 'Has Come Up Short'

Friday, 30 Jan 2015 18:00 PM

President Barack Obama is a "really lousy negotiator" and needs to figure out how to fix that fast, Fox News Channel Nat . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved