Vanguard Health Systems, which operates 26 acute care and specialty hospitals in five US states, raised $450 million by offering 25,000,000 shares at $18.00, below the range of $21.00 to $23.00. The company had originally been expected to price its IPO on Wednesday evening but accelerated it one day. Vanguard Health Systems will list on the NYSE under the symbol VHS. BofA Merrill Lynch, Barclays Capital, and Citi acted as lead managers on the deal.
