Accretive Health, a revenue-cycle technology company partially owned by the nation's largest Catholic health system, has alerted regulators that it is preparing for a public offering on the New York Stock Exchange.
Accretive Health makes plans for public offering
Ascension Health, St. Louis, launched a venture capital subsidiary in 2001 and holds an 11% stake in Accretive prior to the public offering, which is expected to raise $200 million, according to the company's filing with the Securities and Exchange Commission.
Accretive's operations, as of the end of June, included 53 hospitals and associated physician-billing organizations. The company reported operating income of $2.8 million on revenue of $398.5 million as of Dec. 31, 2008. That's compared with operating losses of $480,000 in 2007 and $8.7 million in 2006 on revenue of $240.7 million and $160.7 million, respectively.
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