| Ticker: STRC | 28100 U.S. Highway 19 North, Suite 201 | |
| Exchange: NASDAQ-National Market | Clearwater, Florida 34621 | |
| Industry: Service | (813) 726-4421 |
| Type of Shares: | Common Shares | Filing Date: | 5/15/96 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 7/18/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $9.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.67 | |
| Offering Amount: | $22,000,000 | Selling: | $0.40 | |
| Expenses: | $1,050,000 | Reallowance: | $0.10 | |
| Shares Out After: | 5,367,089 |
| Manager | Tier | Phone |
| Robert W. Baird & Company | Lead Manager | (414) 765-3500 |
| Raymond James & Associates, Inc. | Co-manager | (813) 573-8108 |
| Auditor: Grant Thornton | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $25.32 | $7.33 | $5.82 | Assets: | $15.64 |
| Net Income: | -$0.60 | $0.17 | -$0.45 | Liabilities: | $14.42 |
| EPS: | -$0.17 | $0.05 | -$0.13 | Equity: | $1.21 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| SRI provides hospitals and surgery centers with a comprehensive surgical procedure-based delivery and retrieval service for reusable gowns, towels, drapes, and basins and provides other disposable products necessary for surgery. At seven regional facilities, SRI collects, sorts, cleans, inspects, packages, sterilizes, and delivers its reusable products on a just-in-time basis. SRI offers an integrated "closed-loop" reprocessing service that uses two of the most technologically advanced reusable textiles: (i) a GORE Surgical Barrier Fabric for gowns and drapes that is breathable yet liquid proof and provides a viral/bacterial barrier and (ii) an advanced microfiber polyester surgical fabric for gowns and drapes that is liquid and bacterial resistant. The Company believes that its reusable surgical products made from these fabrics provide protection and comfort that are superior to the disposable alternatives. The Company currently serves a growing customer base of approximately 200 hospitals and surgery centers located in 17 states. The Company believes that its reusable surgical product delivery and retrieval service is a superior and competitively priced alternative to disposable surgical products or to operating an in-house reusable program for surgical products. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of debt, capital expenditures, working capital and for general corporate purposes. |
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