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Article: Capital gains; Stock offering could add to Ascension's coffers.(NEWS)(Ascension Health Ventures)
- Article from:
- Modern Healthcare
- Article date:
- October 12, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Melanie Evans
An upcoming initial public offering by a Chicago healthcare technology company has, as of yet, no estimated price for its shares. But for one of its owners, Ascension Health, the return on its investment hinges on more than the stock's value.
Ascension, St. Louis, which owns or sponsors 77 hospitals, was the first and is the largest customer for the 5-year-old Accretive Health, a revenue-cycle technology company. Ascension also owns 11% of the company as part of its corporate venture capital investing.
Ascension's clout has yielded the system stock in Accretive, guarantees that Ascension hospitals will receive lower fees ...