Ardent Health Partners, an LBO'd operator of 30 acute care hospitals, withdrew its plans for an initial public offering on Wednesday. It originally filed in December 2018 with a proposed deal size of $100 million, though we estimated it could have raised up to $400 million.
The Nashville, TN-based company was founded in 1993 and booked $4.2 billion in revenue for the 12 months ended December 31, 2018. It had planned to list on the NYSE under the symbol ARDT. Barclays, Citi, J.P. Morgan, BofA Securities, Credit Suisse, Goldman Sachs, and RBC Capital Markets were set to be the joint bookrunners on the deal.
