Vanguard Health Systems is planning to raise $600 million in an initial public offering (IPO), The Wall Street Journal reports. The company, which is backed by private-equity firm Blackstone Group, will list its shares on the New York Stock Exchange. Vanguard has not yet revealed the number of shares to be sold or their expected price, adds Reuters. The U.S. hospitals and medical facilities operator may use the proceeds from the offering to redeem senior discount notes and for general corporate purposes.

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