HealthSpring, a managed care provider specializing in Medicare, filed for an initial public offering this week. Some analysts think the company could do well when Medicare Part D officially launches in January 2006. HealthSpring's growth under CEO Herbert Fritch has been dramatic. Today the Nashville-based company's hometown paper, the Tennessean, notes that HealthSpring executives sold up to $77 million in stock to a private equity group before the IPO was announced, in effect borrowing that amount from the company.
- see this article from the Nashville Business Journal
- see this article from the Tennessean