Five years after undergoing the largest leveraged buyout (LBO) in Wall Street history, HCA raises $3.79 billion in what is at the time the largest private equity-backed IPO ever seen. Under newly named president Milton Johnson and CEO Richard Bracken, the company sells more shares than planned, at a higher price than expected.

This move capitalizes HCA for growth and comes less than a year after the Affordable Care Act is signed into law.