Ardent Health Partners Files S-1 for Corporate Conversion

TL;DR

Ardent Health Partners is going public (or restructuring) - S-1 filed 6/21.

AI Summary

Ardent Health Partners, LLC, a healthcare provider, filed an S-1 registration statement on June 21, 2024, to convert into a corporation named Ardent Health Partners, Inc. The company, headquartered in Nashville, Tennessee, operates under SIC code 8062 for general medical and surgical hospitals. This filing indicates a step towards a potential public offering or significant corporate restructuring.

Why It Matters

This S-1 filing signals a potential shift in Ardent Health Partners' corporate structure, which could precede a public offering or other significant financial events impacting the healthcare services sector.

Risk Assessment

Risk Level: medium — S-1 filings indicate a company is preparing for significant financial events like an IPO, which inherently carry market and execution risks.

Key Numbers

• 8062 — SIC Code (Identifies the company's industry as General Medical & Surgical Hospitals, NEC.)
• 61-1764793 — IRS Number (Employer Identification Number for Ardent Health Partners, LLC.)

Key Players & Entities

• Ardent Health Partners, LLC (company) — Registrant
• Ardent Health Partners, Inc. (company) — Name after conversion
• 340 Seven Springs Way, Suite 100 Brentwood, Tennessee 37027 (location) — Principal Executive Offices
• Martin J. Bonick (person) — Chief Executive Officer
• 6152963000 (phone_number) — Business Phone
• 20240621 (date) — Filing Date

FAQ

Key Financial Figures

• $204.0 million — ice buildings to Ventas in exchange for $204.0 million on February 9, 2022, and the concurrent
• $800 billion — ble addressable market size approaching $800 billion. The table below illustrates the calcul

Filing Documents

• d754933ds1.htm (S-1) — 3069KB
• d754933dex31.htm (EX-3.1) — 571KB
• d754933dex32.htm (EX-3.2) — 15KB
• d754933dex33.htm (EX-3.3) — 21KB
• d754933dex42.htm (EX-4.2) — 110KB
• d754933dex43.htm (EX-4.3) — 16KB
• d754933dex101.htm (EX-10.1) — 58KB
• d754933dex102.htm (EX-10.2) — 69KB
• d754933dex103.htm (EX-10.3) — 95KB
• d754933dex104.htm (EX-10.4) — 9KB
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• d754933dex1039.htm (EX-10.39) — 492KB
• d754933dex211.htm (EX-21.1) — 42KB
• d754933dex232.htm (EX-23.2) — 2KB
• d754933dexfilingfees.htm (EX-FILING FEES) — 14KB
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• 0001193125-24-165883.txt ( ) — 10719KB

RISK FACTORS

RISK FACTORS 27 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS 69

USE OF PROCEEDS

USE OF PROCEEDS 72 DIVIDEND POLICY 73 CAPITALIZATION 74

DILUTION

DILUTION 76 CORPORATE CONVERSION 78

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 80

BUSINESS

BUSINESS 112 MANAGEMENT 153

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 170 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 199 PRINCIPAL AND SELLING STOCKHOLDERS 207

DESCRIPTION OF CAPITAL STOCK

DESCRIPTION OF CAPITAL STOCK 210 DESCRIPTION OF CERTAIN INDEBTEDNESS 216 SHARES ELIGIBLE FOR FUTURE SALE 221 MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS 223

UNDERWRITING

UNDERWRITING 228 LEGAL MATTERS 241 EXPERTS 241 WHERE YOU CAN FIND ADDITIONAL INFORMATION 241 INDEX TO FINANCIAL STATEMENTS F-1 i Table of Contents About this prospectus As used in this prospectus, unless the context otherwise indicates, any reference to Ardent, our Company, the Company, us, we and our refers, prior to the Corporate Conversion (as defined herein), to Ardent Health Partners, LLC, together with its consolidated subsidiaries, and after the Corporate Conversion, to Ardent Health Partners, Inc., the issuer of the shares of common stock offered hereby, together with its consolidated subsidiaries. You should rely only on the information contained in this prospectus or in any free writing prospectus that we authorize to be delivered to you. Neither we, nor the selling stockholders, nor any of the underwriters have authorized anyone to provide you with additional or different information. If anyone provides you with additional, different or inconsistent information, you should not rely on it. This prospectus is an offer to sell only the shares of common stock offered hereby, and only under circumstances and in jurisdictions where it is lawful to do so. You should assume the information contained in this prospectus and any free writing prospectus we authorize to be delivered to you is accurate only as of their respective dates or the date or dates specified in those documents. Our business, financial condition, results of operations or prospects may have changed since those dates. For investors outside the United States : Neither we, nor the selling stockholders, nor any of the underwriters have done anything that would permit this offering or possession or distribution of this prospectus or the offer and sale of the shares of common stock in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this prospectus must inform themselv

View Full Filing

View this S-1 filing on SEC EDGAR