The Firm recently represented Vanguard Health Systems, Inc. (“Vanguard”), a portfolio company of The Blackstone Group L.P. and Morgan Stanley Capital Partners, in connection with its initial public offering of common stock. Vanguard’s common stock is now listed on the New York Stock Exchange under the symbol “VHS.”
Vanguard expects to use the net proceeds of the common stock offering to redeem a large portion of its outstanding 10.375% Senior Discount Notes due 2016, including the 5% redemption premium thereof.
Vanguard owns and operates acute care and specialty hospitals, complementary outpatient facilities and related health plans located in national urban and suburban markets.
The Simpson Thacher team for the transaction included Risë Norman, Lia Toback, Kate Yoon, Andre Gray and summer associate Adam Moss (Capital Markets); Anthony King and Jim Cross (M&A); Alden Millard (Credit); Gary Mandel, Sean Austin and Amie Broder (Tax); Brian Robbins, Jamin Koslowe and Paula Han (Executive Compensation and Employee Benefits); J S. Dyer (Labor); and Michael Isby and Timothy Mulvihill (Environmental). Paralegal Nicole Annunziato provided valuable assistance.