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First Choice ER operator Adeptus Health files for a $100 million IPO

May 21, 2014

Adeptus Health, which operates First Choice, the largest freestanding emergency room system in the US, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. The Lewisville, TX-based company, which was founded in 2002 and booked $121 million in net revenue for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol ADPT. Adeptus Health initially filed confidentially on March 14, 2014. Deutsche Bank and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.