Accretive Health stockholders selling 6.5M shares

Fri, 03/25/2011 - 7:45am
The Associated Press

Accretive Health Inc. said Friday that some of its shareholders are offering to sell 6.5 million shares of its stock for $23.50 per share, a 3 percent discount to their most recent closing price.

Accretive Health, which went public last May, helps hospital systems manage their revenue cycles. The Chicago company will not receive any proceeds from the sale of the shares. It has about 95 million shares outstanding.

The underwriters of the offering will have the option to buy another 975,000 shares over the next 30 days to cover any over allotments.

Accretive Health shares closed Thursday at $24.25 per share. The stock has traded between $8.30 and $26.34 since May, when the company completed its initial public offering.

Its stock rose $1.18, or 4.9 percent, to $25.43 in midday trading Friday.


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