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 Health begins trading on NYSE
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.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.