Surgical Care Affliliates, which operates one of the largest networks of outpatient surgery facilities in the US, announced terms for its IPO on Wednesday. The Deerfield, IL-based company plans to raise $220 million by offering 9.8 million shares (20% insider) at a price range of $21 to $24. At the midpoint of the proposed range, Surgical Care Affliliates would command a fully diluted market value of $860 million.
Surgical Care Affliliates, which was founded in 2007 and booked $769 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol SCAI. Surgical Care Affliliates initially filed confidentially on July 23, 2013. J.P. Morgan, Citi, BofA Merrill Lynch, Barclays, Goldman Sachs and Morgan Stanley are the joint bookrunners on the deal.
