Iasis repurchases preferred stock with cash

Iasis Healthcare Corp. said it repurchased $120 million of the company’s outstanding preferred stock with excess cash on hand.
The transaction marked a return of capital to the holders of the Franklin-based hospital chain’s preferred stock including TPG, JLL Partners and Trimaran Fund Management.

David R. White, Iasis’ chief executive, said buying the preferred stock with extra cash on hand reflects the company’s financial strength and competitive positioning.

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