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.
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We hear from the media “budges, deficits, America is broke.” Bullshit! This country ain’t broke by a long shot. People are broke. Some biz and small biz sure. But as a whole? No way Jose. This proves people have tons of cash. Maybe a few people but people.
It also makes me think the whole “we go down” is bullshit as well. These people got rich once and now they are doing it again off a deal built on debt.
Not to mention that once again, heath care as a business is proving the way of the future. Don’t get sick is all I can offer up at this point. Sick people are bad for business. Not rich sick people but poor sick people are. Let the government take care of those.
“America is broke.” Bullshit!”
I’m rooting for you;
and betting against you.
Cashing out at the top of the market….perhaps.