Select Medical Corp., a Mechanicsburg, Penn.-based operator of specialty hospitals, has set its IPO terms to 33.33 million common shares being offered at between $11 and $13 per share. It would have an initial market cap of approximately $1.94 billion, were it to price at the top end of its range.
The company plans to trade on the NYSE under ticker symbol SEM, with Goldman Sachs, BoA Merrill Lynch, JPMorgan and Morgan Stanley serving as co-lead underwriters.
Welsh Carson Anderson & Stowe holds a 65.8% pre-IPO stake, while and Thoma Cressey Bravo holds a 10% stake. www.selectmedicalcorp.com