Initial Public Offering
Baird served as co-manager of this offering.
AboutVanguard Health Systems, Inc. (NYSE: VHS) (“VHS” or the “Company”) recently completed an initial public offering of 28,750,000 shares of its common stock at a price of $18.00 per share, generating gross proceeds of $517.5 million. The Company intends to use the net proceeds from the offering to redeem an estimated $417.6 million of its outstanding 10.375% Senior Discount Notes.
VHS is a leading operator of regionally-focused integrated healthcare delivery networks. The Company owns and operates 26 acute care and specialty hospitals and complementary facilities and services in Chicago, Illinois; Detroit, Michigan; Phoenix, Arizona; San Antonio, Texas; and Massachusetts. The Company’s hospitals offer a variety of medical and surgical services including emergency services, general surgery, internal medicine, cardiology, obstetrics, orthopedics and neurology, as well as select tertiary services such as open-heart surgery and level II and III neonatal intensive care at certain facilities. Through its health plans segment, VHS operates three managed care health plans in Arizona and Illinois that together served approximately 242,700 members as of December 31, 2010. The Company's strategy is to develop locally branded, comprehensive healthcare delivery networks in urban markets.
For additional information about this transaction, please contact:
- July 2011
- Vanguard Health Systems, Inc.
- Target Location
- North America