American Renal Associates Holdings, which operates 192 kidney dialysis clinics through joint ventures with physicians, announced terms for its IPO on Friday.
The Beverly, MA-based company plans to raise $161 million by offering 7.5 million shares at a price range of $20 to $23. At the midpoint of the proposed range, American Renal Associates Holdings would command a fully diluted market value of $706 million.
American Renal Associates Holdings was founded in 1999 and booked $658 million in sales for the 12 months ended December 31, 2015. It plans to list on the NYSE under the symbol ARA. BofA Merrill Lynch, Barclays, Goldman Sachs, Wells Fargo Securities and Suntrust Robinson Humphrey are the joint bookrunners on the deal. It is expected to price during the week of April 18, 2016.
