HCA, co-parent of HealthONE, is preparing an initial public offering, Bloomberg News is reporting.
HealthONE has expressed interest in buying Memorial Health System.
The IPO could raise $3 billion and is needed to pay off its debt, which is 4.8 times its its earnings or about 425.7 billion.
HCA is headquartered in Nashville and is the largest U.S. hospital operator with 163 hospitals and 105 outpatient surgery clinics.
HealthONE is the largest health care provider in the state.