Aurora Diagnostics Files for $150 Million IPO

Aurora Diagnostics LLC, a Palm Beach Gardens, Fla.-based diagnostic lab and anatomic pathology company, has filed for a $150 million IPO. It plans to trade on the Nasdaq under ticker symbol ARDX, with Morgan Stanley, Barclays Capital and UBS Investment Bank serving as co-lead underwriters.

The company reports $171 million in net 2009 revenue, compared to $159 million in 2008. Its 2009 net income was $9 million, down slightly from $10.7 million in 2008.

Aurora Diagnostics was formed in 2006 as an acquisition platform by Summit Partners and GSO Capital Partners. Last June, KRG Capital Partners acquired GSO’s interests in the company. Summit now holds a 51% ownership stake, with KRG holding a 34% position. The remainder is held by company management.