American Renal Associates Holdings, which operates 192 kidney dialysis clinics through joint ventures with physicians, raised $165 million by offering 7.5 million shares at $22, within the range of $20 to $23. American Renal Associates Holdings plans to list on the NYSE under the symbol ARA. BofA Merrill Lynch, Barclays, Goldman Sachs, Wells Fargo Securities and SunTrust Robinson Humphrey acted as lead managers on the deal.