Tennessee-based hospital operator Ardent Health Partners Inc., majority-owned by Equity Group Investments (EGI), has once again filed for an initial public offering (IPO). This comes after the company shelved a previous IPO plan four years ago. The specific terms for the share sale have not been disclosed yet and will be revealed in a subsequent filing.
Ardent is expected to aim for a fundraising amount of $400 million or more through the offering, valuing the company at around $5 billion, as reported by Bloomberg News. In the recent filing, Ardent reported net income of $45.9 million on revenue of $1.4 billion for the quarter ending March 31, compared to $23.8 million in net income on revenue of $1.3 billion during the same period in 2023. This demonstrates growth in the company’s financial performance.
EGI, founded by the late billionaire investor Sam Zell, partnered with healthcare real estate investment trust Ventas in 2015 to acquire Ardent. Ventas took ownership of Ardent’s real estate assets, while EGI and other capital partners acquired Ardent’s operations and signed a long-term lease agreement with Ventas. Ardent’s IPO will be managed by JPMorgan Chase & Co., Bank of America Corp., and Morgan Stanley, with plans for the company’s shares to trade on the New York Stock Exchange under the symbol ARDT.
The decision to file for an IPO comes after several years of growth and expansion for Ardent Health Partners Inc., which operates hospitals and ambulatory facilities across multiple states in the United States. The company’s focus on providing high-quality care and exceptional patient experiences has led to its reputation as one of the leading healthcare providers in Tennessee and beyond.
The potential IPO could provide significant benefits to both Ardent Health Partners Inc. and its investors. By going public, Ardent would have access to additional capital that could be used to further expand its operations or invest in new initiatives that could drive growth and improve patient outcomes.
As investors consider investing in an IPO from a healthcare provider like Ardent Health Partners Inc., it is important to carefully evaluate its financial performance, growth prospects, competitive landscape, and management team before making any investment decisions.
Overall, this news marks an exciting development for Ardent Health Partners Inc., as well as investors who may see potential opportunities in this growing healthcare sector market opportunity.
