| Ticker: PHMX | 777 South Flagler Drive | |
| Exchange: NASDAQ-National Market | West Palm Beach, Florida 33401 | |
| Industry: Service | (407) 655-3500 |
| Type of Shares: | Common Shares | Filing Date: | 10/10/95 | |
| U.S. Shares: | 7,150,000 | Offer Date: | 1/23/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 7,150,000 | Offer Price: | $15.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.05 | |
| Offering Amount: | $100,100,000 | Selling: | $0.63 | |
| Expenses: | $2,200,000 | Reallowance: | $0.10 | |
| Shares Out After: | 20,457,450 |
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (718) 921-8473 |
| Dean Witter Reynolds | Co-manager | (212) 392-2222 |
| PaineWebber Incorporated | Co-manager | (212) 713-2626 |
| Robinson-Humphrey Company, Inc., The | Co-manager | (404) 266-6000 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/94 | 9/30/95 | 9/30/95 | |||
| Revenue: | $111.27 | $95.53 | Assets: | $129.24 | |
| Net Income: | -$22.20 | -$7.74 | Liabilities: | $112.02 | |
| EPS: | -$1.67 | -$0.58 | Equity: | $17.22 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company, formerly known as Continuum Care Corporation, a physician practice management company, provides management services to disease specialty and primary care physicians and provides related medical support services. The company's primary strategy is to develop disease management networks in specific geographic locations by acquiring physician practices and affiliating with disease specialty and primary care physicians. Where appropriate, the company supports its affiliated physicians with related diagnostic and therapeutic medical support services. The company's medical support services include radiation therapy, diagnostic imaging, infusion therapy, home health care and lithotripsy services. Since its first acquisition in September 1994, the company has acquired the practices of and affiliated with 103 physicians, acquired several medical support service companies and entered into letters of intent to acquire the practices of and affiliate with nine additional physicians. The company also owns a 43.75% interest in a newly formed management services organization that provides management services to an independent physician association composed of over 240 multispecialty physicians. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to repay certain indebtedness and for general corporate purposes, including future acquisitions and working capital. |
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