The largest private sector hospital in the country, HCA, priced to ipo at the high end its range at $30. They are expected to begin trading on Thursday.
Back in 2006, private equity vampires took HCA private for $21 billion and shortly thereafter began to bleed the company out, taking more than $4 billion in divvies. Fast forward 5 short years, Bain Capital, KKR and Bank of America Merrill Lynch, alongside the southern gentlemen corralled in the Frist family, are cashing the fuck in, netting a tad more than $468 millski. Not bad for a deal built entirely on debt.
It’s also worth noting, HCA will come public with more than $25 billion in debt and do not stand to benefit from said offering.
