The company beat records set by other IPOs earlier this year. HCA said it sold 126.2 million shares at $30 a piece, with 87.7 million shares sold by the company and 38.5 million sold by selling stockholders.
The HCA offering follows six months of gains for hospital stocks. Stocks in Community Health Systems, Health Management Associates, Tenet Healthcare and Universal Health Services have risen by two-thirds on average since the end of August. Healthcare IPOs have made up 26 percent of all IPOs this year, the highest proportion since 2001, according to Dealogic.
“As investors grow more comfortable with the impact of the healthcare overhaul, more companies are going public,” the Associated Press said.
Even though HCA has $28.2 billion in debts, the company said its size would help it to keep costs low while serving a growing patient population, swelled by aging baby-boomers and by expansions under healthcare reform. It operates 164 hospitals and 106 surgery centers in 20 states and in the UK.
Read more coverage of HCA’s IPO:
– Investors Lining Up for HCA IPO Despite Debt
– HCA’ IPO Could Be Largest Private-Equity Backed Offering on Record
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