Hospital operator Ardent Health seeks U.S. IPO (Pending:ARDT)

Hospital operator Ardent Well being Companions (ARDT) has filed for an preliminary public providing to lift $100M in gross proceeds, renewing its efforts to change into a publicly traded firm within the U.S. after a four-year lapse.

The Nashville, Tennessee-based healthcare supplier initially filed for a U.S. IPO in 2018 to cut back debt and different company functions however withdrew its plans in 2020.

In its newest S1 submitting submitted on Friday, the corporate recognized itself because the fourth largest privately held, for-profit hospital operator within the U.S., with healthcare amenities in six states, together with Texas and New Jersey.

Ardent Well being (ARDT) generated $5.4B in 2023, with ~6% YoY development. Nevertheless, its internet revenue for the yr fell greater than 50% to $129.0M, as working bills swelled ~9% YoY to $5.3B.

The corporate seeks an inventory on the New York Inventory Change underneath the ticker image ARDT and intends to make use of the online proceeds for debt reimbursement and normal company functions.