Private equity firm Blackstone Group owns 66.1% of the company and as the article states below it will remain a “controlled” company. At the end of last year the 
company bought the Detroit Medical Center so it is now a for profit center. If you have not heard of Blackstone, they are a very large private equity firm.
Vanguard's Purchase of the Detroit Medical Center Receives Approval from Michigan Attorney General
A few years ago Vanguard sold some of their hospitals to Prime Healthcare here in Orange County. La Palma and Huntington Beach hospitals were two of the medical centers sold. Since selling to Prime, who will not negotiate with insurance companies for contracts, the hospitals are not like they used to be, not busy at all with inpatients, but rather run Cadillac ER rooms, as that’s where the money is at with billing customary charges. Vanguard typically buys bankrupt or near-bankrupt facilities, then invests in capital improvements to help upgrade service and Prime is kind of in the same business. Right now though you can roll bowling balls through their parking lots, at least the 2 mentioned above compared to how they used to operate. BD
Vanguard Health Systems, Nashville, filed a prospectus with the U.S. Securities and Exchange Commission for Vanguard's initial public offering of stock.
The company plans to sell stock worth $600 million in the IPO, with the shares to be traded under the symbol “VHS” on the New York Stock exchange, according to the filing. Vanguard intends to use the proceeds to pay off senior discount notes that are due in February 2016, according to the filing. The prospectus does not specify what price range it expects for the initial offering of shares or how many shares will be sold.
The filing also does not state the specific ownership interests of its three main shareholding groups after the sale of the public shares, but does state that after the IPO, Vanguard still will be considered a “controlled company” under New York Stock Exchange rules because the three groups will still control a majority of the voting power of the company. Private equity firm Blackstone Group owns a 66.1% interest in the company currently. Morgan Stanley Capital Partners, which was the company's original equity investor when it was founded in 1997, owns an 18% stake. The company's management team owns 15.9% collectively, including 7.4% by Chairman and CEO Charlie Martin.
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