Acadia Healthcare, Inc. (Nasdaq: ACHC) is the leading publicly traded pure-play provider of inpatient behavioral health care services in the United States based upon number of licensed beds. As of December 2011 Acadia operated 34 behavioral health care inpatient and outpatient facilities with approximately 1,950 licensed beds in 18 states. Raymond James is serving as senior co-manager in the offering.

HCA Holdings Inc. (NYSE: HCA) is the nation's leading hospital company, composed of locally managed facilities that include 164 hospitals and 105 freestanding surgery centers. The $4.3 billion transaction represents the largest sponsor-backed IPO in history and consummates a 2006 go-private transaction led by Bain Capital and Merrill Lynch Global Private Equity. Raymond James served as co-manager in the offering.

MedAssets, Inc. provides technology enabled products and services for hospitals, health systems, and ancillary health care providers in the United States. Its technology-enabled solutions are delivered primarily through company-hosted software, or software as a service supported by sales, account management, implementation services, and consulting. Raymond James served as co-manager in the company’s $325 million senior notes offering. Raymond James also publishes equity research on the company.

Natus is a leading provider of medical devices for the newborn care, hearing, and neurology markets. Raymond James served as an underwriter in the company’s $89.7 million follow-on offering. The over-subscribed offering was increased by 500,000 shares, or 14.3%, from the original announced size of 3.5 million shares, and the full over-allotment of 600,000 shares was exercised. Completion of the offering provided Natus with capital to pursue its acquisition-oriented growth strategy, repay outstanding debt, and fund working capital. Raymond James publishes equity research on Natus.

LifePoint Hospitals is one of the nation’s largest hospital companies focused on non-urban health care, with 51 general acute care hospitals in 19 states. Raymond James served as an underwriter in the $575 million 3.5% convertible senior subordinated notes offering. Raymond James follows LifePoint through our Equity Research Department.

Amedisys is the nation’s largest public pure-play provider of Medicare home nursing services. Raymond James served as the lead manager for the Company’s $124.5 million follow-on equity offering with Wachovia, UBS, JPMorgan Chase and CIBC serving as underwriters. Despite a choppy equity market at the time and concerns regarding CMS’s stated intent to focus on therapy and case mix reimbursement in the coming year, the offering was well-received by the market. The stock has traded up approximately 20.0% in the 10 months since the offering priced. Raymond James has consistently been the top trader of Amedisys stock and one of the Street's most-referenced research sources.

MedCath provides health care services focused primarily on the diagnosis and treatment of cardiovascular disease. More than 90% of the company’s revenue is generated from the operations of eleven hospitals that it owns in partnership with physicians and community hospitals. We served as an underwriter for the $122.5 million follow-on equity offering.

Based in Nashville, Tennessee, HealthSpring is one of the largest managed care organizations in the United States whose primary focus is the Medicare Advantage market. We served as an underwriter for the $220.2 million follow-on equity offering. The offering was upsized to 10.1 million shares from 9 million and the green shoe option was exercised, bringing the total shares offered to 11.6 million.

We served as an underwriter for the $421.6 million initial public offering for HealthSpring, a GTCR portfolio company and the first pure-play Medicare Advantage plan to access the public equity markets. The offering was upsized to 18.8 million shares from 17 million and 13 oversubscribed. The offering priced at $19.50, above the $16.00 – $18.00 initial filing range.

Psychiatric Solutions is the largest pure-play public provider of inpatient behavioral health services in the United States. We served as an underwriter for the Company’s $202.2 million follow-on equity offering. This financing allowed Psychiatric Solutions to de-lever significantly by paying down a meaningful portion of the leverage taken on in its July 2005 $560 million acquisition of 20 behavioral health operations from Ardent Health Services.

Emageon is a leading provider of integrated, enterprise-level software for the visualization, analysis and management of digital medical imaging content in health care settings. The company serves over 101 hospitals and provider sites. We served as an underwriter for the company’s February 2005 IPO. We were able to maintain our spot on the deal despite losing our Health Care Information Technology research analyst Jim Kumpel in August 2004.

Psychiatric Solutions is the largest pure-play public provider of inpatient behavioral health services in the United States. We served an underwriter for the company’s $116.3 million follow-on equity offering. This financing allowed Psychiatric Solutions to redeem $50 million of its 10.625% senior subordinated notes and pay down a portion of its credit facility. The company acquired 10 inpatient facilities in 2004, funded primarily through debt.

Community Health Systems is a leading operator of general acute care hospitals in non-urban and mid-market communities in the United States. We served as an underwriter for Community Health’s offering of $300 million of 6.5% senior subordinated notes.

Raymond James served as an underwriter in the company’s follow-on, which was the company’s first traditional public equity offering. The offering intended to re-introduce the company and its strategy to the market, increase institutional sponsorship, and raise capital to continue its consolidation strategy. Raymond James was the top trader in AMED stock for nine months following the PIPE, and in the period leading up to the follow-on offering.

Phase Forward is a leading provider of clinical trial software for pharmaceutical, biotechnology, and medical device companies and contract research organizations. The company provides licensed and hosted software and offers clinical trial data management services. We served as underwriter on the company’s initial public offering. We were the only health care team managing the deal, working alongside two technology groups.

Symbion is an owner and operator of a network of surgery single- and multi-specialty surgery centers located throughout the United States. We served as an underwriter for Symbion’s $124.2 million IPO in November 2003. Prior to the IPO, we advised Symbion in its acquisition of Physicians Surgical Care (April 2002) and advised MediSphere Health Partners in a surgery center sale to Symbion (November 2003).

Bradley Pharmaceuticals is a specialty pharmaceutical company that operates primarily in the dermatologic and gastrointestinal markets. We lead managed the company’s $103.1 million follow-on equity offering. The oversubscribed offering priced at a zero percent discount to the prior day closing price.

Psychiatric Solutions is the largest pure-play public provider of inpatient behavioral health services in the United States. We served as an underwriter for the company’s $110.4 million follow-on equity offering. The follow-on offering was the company’s first traditional equity offering. In August 2002, we assisted PMR Corporation in their reverse merger with Psychiatric Solutions, which was the transaction through which Psychiatric Solutions became a public company.