| Proposed Ticker: MED | 40 Skokie Boulevard | |
| Exchange: American Stock Exchange | Northbrook, Illinois 60062 | |
| Industry: Service | (847) 564-8500 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 5/24/96 | |
| U.S. Shares Filed: | 2,500,000 | Filing Price: | $16.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $40,000,000 | |
| Primary Shares: | 2,500,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shs Out After: | 6,762,147 | |
| Manager | Tier | Phone |
| Morgan Stanley & Co. Incorporated | Lead Manager | (212) 703-4797 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Volpe, Welty & Company | Co-manager | (415) 956-8120 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $96.42 | $24.06 | $26.76 | Assets: | $22.30 |
| Net Income: | -$18.77 | -$1.44 | -$5.39 | Liabilities: | $85.17 |
| EPS: | -$4.37 | -$0.33 | -$1.25 | Equity: | -$62.87 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is the nation's leading manager of diagnostic imaging services, based on its own market research. The company contracts with large healthcare payors to manage the provision of diagnostic imaging services to members of payors' healthcare plans with the goal of reducing the costs and improving the quality and utilization of diagnostic imaging services. Current clients include payors such as Blue Cross Blue Shield, Cigna Healthcare, Inc. and the United Healthcare, Inc. At March 31, 1996, the company managed diagnostic imaging services for 16 clients representing over 2.5 million lives in 13 states. In addition, the company signed a new contract in March 1996 covering approximately 88,000 lives which was implemented in June 1996. Founded in 1989, the company has achieved rapid growth, with revenues growing from approximately $2.6 million in 1991 to $96.4 million in 1995 and covered lives increasing from 102,000 at December 31, 1991 to over 2.5 million at March 31, 1996. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay debt, to enhance computer hardware enhancements and to achieve a positive working capital position to support the company's growth strategy. |
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