Simpson Thacher represented Vanguard Health Systems, Inc. (“Vanguard”) in connection with the private placement offering, including registration rights for investors, of $375.0 million aggregate principal amount of 7.750% Senior Notes due 2019 issued by its wholly-owned subsidiaries, Vanguard Health Holding Company II, LLC (“VHS Holdco II”) and Vanguard Holding Company II, Inc. (together with VHS Holdco II, the “Issuers”), conducted in reliance on Rule 144A and Regulation S. The notes were issued as additional notes under an existing indenture, pursuant to which the Issuers issued $350 million aggregate principal amount of 7.750% Senior Notes due 2019 in January 2011. The Issuers intend to use the net proceeds from the offering for general corporate purposes, which may include, but not be limited to, working capital, capital expenditures, acquisitions, the repayment of any outstanding indebtedness under their existing revolving credit facility and to pay the fees and expenses incurred in connection with this offering.
Vanguard owns and operates acute care and specialty hospitals and complementary facilities and services in metropolitan Chicago, Illinois; metropolitan Phoenix, Arizona; metropolitan Detroit, Michigan; San Antonio, Texas; Harlingen and Brownsville, Texas; and Worcester and metropolitan Boston, Massachusetts. Vanguard’s strategy is to develop locally branded, comprehensive healthcare delivery networks in urban markets.
The Simpson Thacher team included: Risë Norman, Jonathan Ozner and Ellen Lefever (Capital Markets), Jonathan Cantor and Vanessa Cohen (Tax), Jamin Koslowe (Executive Compensation and Employee Benefits), Michael Isby and Timothy Mulvihill (Environmental), Scott Dyer (Labor), and Mindy Lok (Intellectual Property).
Lawyers:
• Jonathan E. Cantor
• Vanessa B. Cohen
• J. Scott Dyer
• Michael R. Isby
• Jamin R. Koslowe
• Ellen Lefever
• Mindy M. Lok
• Timothy J. Mulvihill
• Risë B. Norman
• Jonathan Ozner
Related Practice Areas:
• Corporate
• Capital Markets and Securities
• Labor
• Intellectual Property
• Tax
• Executive Compensation and Employee Benefits
• Environmental Practice
(Press Release by Simpson Thacher & Bartlett LLP)
