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Hospital chain Ardent Health discloses 2018 financial results ahead of estimated $400 million IPO


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Ardent Health Partners, an LBO'd operator of 30 acute care hospitals, reported financial results for the year end December 31, 2018, in an amendment filed with the SEC on Wednesday. It originally filed with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise as much as $400 million. The offering is a combination of primary and secondary shares.

Ardent Health Partners was founded in 1993 and booked $4.2 billion in sales for the 12 months ended December 31, 2018. The Nashville, TN-based company plans to list on the NYSE under the symbol ARDT. Barclays, Citi, J.P. Morgan, BofA Merrill Lynch, Credit Suisse, Goldman Sachs and RBC Capital Markets are the joint bookrunners on the deal.

The article Hospital chain Ardent Health discloses 2018 financial results ahead of estimated $400 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





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