| Ticker: UPUP | 2275 Research Boulevard | |
| Exchange: NASDAQ-National Market | Rockville, Maryland 20850 | |
| Industry: Financial | (301) 548-1000 |
| Type of Shares: | Common Shares | Filing Date: | 4/19/96 | |
| U.S. Shares: | 2,400,000 | Offer Date: | 7/2/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $15.00 - $17.00 | |
| Primary Shares: | 2,400,000 | Offer Price: | $11.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.77 | |
| Offering Amount: | $38,400,000 | Selling: | $0.46 | |
| Expenses: | $1,100,000 | Reallowance: | $0.10 | |
| Shares Out After: | 11,200,000 |
| Manager | Tier | Phone |
| Bear, Stearns & Co. Inc. | Lead Manager | (212) 272-2000 |
| Schroder Wertheim & Company, Incorporated | Co-manager | (212) 492-6900 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $0.88 | $7.41 | $0.00 | Assets: | $11.17 |
| Net Income: | -$0.71 | $2.45 | -$0.08 | Liabilities: | $3.43 |
| EPS: | -$0.08 | $0.28 | -$0.01 | Equity: | $7.75 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company serves as an intermediary between health care payors, such as insurance companies, and health care providers, such as hospitals, entering into contractual arrangements designed generally to produce cost savings and other benefits. The company derives its revenues primarily from a portion of the price concessions offered by the providers under such contractual arrangements. The company enters into contracts with both providers of medical services and payors of medical claims. The company's contracts with Contracting Providers, consisting primarily of hospitals and, to a lesser extent, other health care providers, establish price concessions on the charges for medical services rendered by the Contracting Providers to beneficiaries covered by medical plans of Payor Clients. These Contracting Providers collectively constitute the "UP&UP; Network." The Contracting Providers are not prohibited by the company's contracts from entering into discounted service arrangements with one-year terms unless the Contracting Providers have with Payor Clients. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund payments due upon exercise of certain prepayment options granted to contracting providers and for general corporate purposes, including possible acquisitions. |
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