| Ticker: VMSI | 3865 North Business Center Drive | |
| Exchange: NASDAQ-National Market | Tucson, Arizona 85705 | |
| Industry: Manufacturing | (520) 887-2155 |
| Type of Shares: | Common Shares | Filing Date: | 5/24/96 | |
| U.S. Shares: | 2,050,000 | Offer Date: | 7/26/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 1,890,907 | Offer Price: | $10.00 | |
| Secondary Shares: | 159,093 | Gross Spread: | $0.70 | |
| Offering Amount: | $30,750,000 | Selling: | $0.42 | |
| Expenses: | $925,000 | Reallowance: | $0.10 | |
| Shares Out After: | 10,680,998 |
| Manager | Tier | Phone |
| Bear, Stearns & Co. Inc. | Lead Manager | (212) 272-2000 |
| Dillon, Read & Co. Inc. | Co-manager | (212) 906-7000 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $10.61 | $1.59 | $1.01 | Assets: | $21.74 |
| Net Income: | -$3.27 | -$10.31 | -$0.83 | Liabilities: | $23.30 |
| EPS: | -$0.38 | -$1.16 | -$0.10 | Equity: | -$1.56 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a manufacturer of instrument systems used in analyzing cells and tissues on microscopic slides. These tests are important tools used in the diagnosis of and selection of treatment for cancer. With a worldwide installed base of 581 instruments as of March 31, 1996, the Company believes that it is the worldwide leader in the automated IHC testing market. The Company estimates that its installed base is approximately five times as large as the combined installed base of instruments of all of the Company's current competitors. Ventana has placed instruments with 35 of the 42 cancer centers designated by the National Cancer Institute including the Mayo Clinic, the Dana Farber Cancer Institute, the Johns Hopkins University and the M.D. Anderson Cancer Center.Each Ventana proprietary system placed provides a recurring revenue stream as customers consume reagents and supplies sold by the Company with each test conducted. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay debt, for capital expenditures and for working capital and general corporate purposes. |
©1996 IPO Data Systems, Inc. - All rights reserved.