Surgical Care Affiliates files for US IPO to raise USD 100 million

By IVCPOST Staff Reporter

Sep 05, 2013 11:44 AM EDT

A regulatory filing revealed that Surgical Care Affiliates Inc filed for an initial public offering (IPO) in the US. The firm is an operator of ambulatory surgery centers and surgical hospitals owned by TPG Capital. The filing also showed that Surgical Care was seeking to raise USD 100 million from the IPO. The filing, however, did not specify the number of shares it would offer for the IPO. It did not also state the price per share for the offering.

According to a Bloomberg report, the size of the offering was just a placeholder amount. That amount was only used to compute the registration fees and could change.The filing also discussed that Surgical Care would use the IPO proceeds to pay its debt and for general business purposes. Some of the banks managing the offering are Citigroup Inc and JPMorgan Chase & Co.

In the six months that ended June, Surgical Care posted revenues of USD 388 million. This represented an increase from USD 370 million in revenues it has achieved in the same period last year.

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