| Ticker: HCOR | 5720 LBJ Freeway, Suite 550 | |
| Exchange: NASDAQ-National Market | Dallas, Texas 75240 | |
| Industry: Service | (214) 233-7744 |
| Type of Shares: | Common Shares | Filing Date: | 6/12/96 | |
| U.S. Shares: | 3,250,000 | Offer Date: | 8/9/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.50 - $14.50 | |
| Primary Shares: | 3,000,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 250,000 | Gross Spread: | $0.70 | |
| Offering Amount: | $43,875,000 | Selling: | $0.40 | |
| Expenses: | $700,000 | Reallowance: | $0.10 | |
| Shares Out After: | 9,554,600 |
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 727-1700 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-2000 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $81.56 | $24.26 | $17.55 | Assets: | $20.08 |
| Net Income: | $3.58 | $0.97 | $0.70 | Liabilities: | $1.70 |
| EPS: | $0.55 | $0.15 | $0.15 | Equity: | $18.37 |
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 leading provider of comprehensive home health care services in the southwestern and central United States. The company provides fully-integrated home health care services, including nursing, respiratory therapy/medical equipment and infusion therapy. Since incorporation in 1989, the company has expanded from 12 offices in three states to 75 offices in eight states at May 31, 1996. The company has successfully diversified its business mix from approximately 98% nursing in 1989 to 58% nursing on a pro forma basis as of March 31, 1996, reflecting the company's evolution to a fully-integrated home health care provider. Home health care is among the fastest growing segment of the health care industry with estimated annual expenditures of $36.1 billion in 1995, up from $12.9 billion in 1990, representing a compounded annual growth rate of approximately 23%. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay outstanding indebtedness under its existing bank credit facilities, fund potential acquisitions and for general corporate purposes. |
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