Olemedia
Hospital operator Ardent Health Partners (ARDT) has filed for an initial public offering to raise $100M in gross proceeds, renewing its efforts to become a publicly traded company in the U.S. after a four-year lapse.
The Nashville, Tennessee-based healthcare provider initially filed for a U.S. IPO in 2018 to reduce debt and other corporate purposes but withdrew its plans in 2020.
In its latest S1 filing submitted on Friday, the company identified itself as the fourth largest privately held, for-profit hospital operator in the U.S., with healthcare facilities in six states, including Texas and New Jersey.
Ardent Health (ARDT) generated $5.4B in 2023, with ~6% YoY growth. However, its net income for the year fell more than 50% to $129.0M, as operating expenses swelled ~9% YoY to $5.3B.
The company seeks a listing on the New York Stock Exchange under the ticker symbol ARDT and intends to use the net proceeds for debt repayment and general corporate purposes.