HCA, parent company of Wesley Medical Center, announced today that it has filed for an initial public offering of about $4 billion in common stock to be sold by HCA and existing shareholders. It said in the filing with the Securities and Exchange Commission that it expects gross proceeds of about $2.5 billion from the IPO.
The Nashville, Tenn., company didn't set a price for the shares or say how many it plans to sell.
HCA first went public in 1969. In 2006, it completed a $21-billion leveraged buyout to take the company private.
The hospital operator says it earned $388 million in the first quarter of 2010 on $7.54 billion in revenue.
Wesley is part of HCA's network of 162 hospitals and 106 freestanding surgery centers across 20 states and the United Kingdom.