IASIS Healthcare Repurchases $120 Million in Preferred Stock

FRANKLIN, Tenn.--(BUSINESS WIRE)--IASIS Healthcare® LLC today announced the repurchase by its parent company, IASIS Healthcare Corporation, of $120 million of outstanding preferred stock. The holder of the corporation’s preferred stock is represented by an investor group led by TPG, JLL Partners and Trimaran Fund Management. The repurchase, which included accrued and outstanding dividends, was funded by excess cash on hand.

“We are proud to provide our long-time equity sponsors with a strong return of capital, which we believe highlights the overall success of our company”

“We are proud to provide our long-time equity sponsors with a strong return of capital, which we believe highlights the overall success of our company,” said David R. White, IASIS Healthcare chairman and chief executive officer. “Our ability to repurchase $120 million in preferred stock without accessing the capital markets or impacting the strategic direction of the Company speaks to our financial strength and competitive positioning.”

IASIS, located in Franklin, Tennessee, is a leading owner and operator of medium-sized acute care hospitals in high-growth urban and suburban markets. The Company operates its hospitals with a strong community focus by offering and developing healthcare services targeted to the needs of the markets it serves, promoting strong relationships with physicians and working with local managed care plans. IASIS owns or leases 15 acute care hospital facilities and one behavioral health hospital facility with a total of 2,853 beds in service and has total annual net revenue of approximately $2.4 billion. These hospital facilities are located in six regions: Salt Lake City, Utah; Phoenix, Arizona; Tampa-St. Petersburg, Florida; three cities in Texas, including San Antonio; Las Vegas, Nevada; and West Monroe, Louisiana. IASIS also owns and operates a Medicaid and Medicare managed health plan in Phoenix that serves more than 200,000 members. For more information on IASIS, please visit the Company’s Web site at www.iasishealthcare.com.