Accretive Health priced its stock at $12 per share for its first day of trading on the New York Stock Exchange, below the $14 to $16 the revenue-cycle technology company first proposed, but by midday the stock hovered near $13.50.
Accretive offered roughly 6.7 million shares, as initially announced, but stockholders cut their planned issue in half today to 3.3 million shares, the company said in a regulatory filing.
Ascension Health, St. Louis, the largest U.S. not-for-profit health system and one of Accretive Health's four largest stockholders, will
hold an 8.5% stake in Chicago-based Accretive after the offering, according to the filing.
