UPDATE 1-Accretive Health shares rise in market debut

* Shares open at $12.74, 6.2 pct above IPO price

* IPO raised 40 pct less than anticipated on Wednesday

* Trading on NYSE under symbol “AH”

NEW YORK, May 20 (BestGrowthStock) – Shares of healthcare revenue
management company Accretive Health Inc (AH.N: ) rose as much as
9 percent in their stock market debut on Thursday.

The shares opened at $12.74 and rose as high as $13.10 in
early trading on the New York Stock Exchange.

In its initial public offering on Wednesday, the company
raised about 40 percent less than originally planned. It sold
10 million shares at $12 each, raising $120 million. It had
planned to sell 13.33 million shares at $14 to $16 each.

Accretive Health helps U.S. healthcare companies manage
patient registration, insurance and benefits verification,
medical treatment documentation, coding and billing.

The Chicago, Illinois-based company posted net services
revenue of $125.94 million in the three months ended March 31,
up 12 percent from a year earlier. It posted a profit of
$314,000, compared with a year-earlier loss of $638,000.

A single customer, Catholic nonprofit healthcare company
Ascension Health, accounted for about 60 percent of its net
services revenue.

Accretive Health said it would use proceeds from the IPO to
pay preferred stock liquidation preferences and for general

Underwriters were led by Goldman Sachs & Co and Credit
Suisse. The shares trade on the New York Stock Exchange on
under the symbol “AH.”

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(Reporting by Clare Baldwin; editing by John Wallace)

UPDATE 1-Accretive Health shares rise in market debut