In May 2011, IASIS completed a refinancing and received roughly $230 million. Half of that cash was used to redeem its issued and outstanding Series A cumulative convertible preferred stock and to pay dividends to its common stockholders, according to the filing.
The remaining cash will fund “future growth through acquisitions and other development projects.” IASIS has not acquired a hospital since it completed a 79 percent ownership interest in Houston-based St. Joseph Medical Center in May 2011.
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