April 15 (Bloomberg) - Vanguard health systems, owned by the Blackstone Group, two-thirds filed to sell shares in an initial public offer, with a value of $ 600 million.
No underwriters were listed in the introduction on the stock exchange filing today with the U.S. Securities and Exchange Commission. The company said in the filing that it will be the trade under the symbol on the New York Stock Exchange.Vanguard VHS, based in Nashville, Tennessee, has 26 hospitals in five States, and health insurance plans. Needed to 3.38 billion in revenues in the year ending June 30, 2010, according to the filing. The BPI would be the tenth in the industry of health care in the last three months, according to data of Bloomberg.Fonds led by Blackstone, based in New York bought the company hospital in 2004 for $ 1.75 billion, according to Bloomberg data. Vanguard plans to use money from the introduction on the stock market to pay remaining debts $ 747 million which has been made to pay investors in the company, according to the filing. The introduction in scholarship money will be used to make acquisitions.Last month, HCA Holdings Inc., the chain of the hospital, whose owners are KKR & Co. and Bain Capital LLC, raised $ 3.79 billion in his introduction on the stock market, the largest ever by a private company in on shares according to Preqin Ltd. companies owned by companies borrowing raised approximately $ 19.5 billion worldwide offices of intellectual property in the first quarter, more than half of their total for all of 2010, show data compiled by Bloomberg and Preqin based in London.-With the help of Lee and Jason Kelly Spears in New York. Editors: Angela Zimm, Andrew Pollack
To contact the reporter on this story: Drew Armstrong in Washington at darmstrong17@bloomberg.net.
To contact the editor responsible for this story: Reg Gale in New York at the rgale5@bloomberg.net
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