| Ticker: ADVP | 545 East John Carpenter Freeway, Suite 1900 | |
| Exchange: NASDAQ-National Market | Irving, Texas 75062 | |
| Industry: Service | (214) 830-6199 |
| Type of Shares: | Common Shares | Filing Date: | 6/26/96 | |
| U.S. Shares: | 2,647,114 | Offer Date: | 10/8/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | - | |
| Primary Shares: | 2,000,000 | Offer Price: | $9.00 | |
| Secondary Shares: | 647,114 | Gross Spread: | $0.63 | |
| Offering Amount: | $34,500,000 | Selling: | $0.34 | |
| Expenses: | $500,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,403,750 |
| Manager | Tier | Phone |
| Hambrecht & Quist Incorporated | Lead Manager | (415) 576-3423 |
| J.P. Morgan Securities Inc. | Co-manager | (212) 648-9922 |
| Montgomery Securities | Co-manager | (415) 627-2220 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/96 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $87.72 | $49.81 | $25.69 | Assets: | $72.09 |
| Net Income: | $1.04 | $0.67 | -$0.34 | Liabilities: | $51.03 |
| EPS: | $0.25 | $0.12 | Equity: | $21.07 | |
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 independent provider of pharmacy benefit management services to health benefit plan sponsors, with over nine million health plan members enrolled in the company's programs. The company's primary focus is on the delivery of cost-effective, high quality, integrated PBM services. In addition, the company has developed and is expanding its clinical expertise and disease management services to meet the specialized recurring therapies. These services are designed to inform and educate health benefit plan sponsors, their members and participating physicians of nationally recognized practice guidelines for various disease states. This encourages physician and member conformance, improves compliance with recognized standards and, in turn, improves member health while reducing cost of care. The company's PBM services include clinical and benefit design consultation, formulary and rebate administration, electronic point-of-sale pharmacy claims processing, mail pharmacy distribution, pharmacy network management, drug utilization review and data information reporting. |
| Use of Proceeds |
| The proceeds from the offering will be used for repayment of debt, capital expenditures, possible acquisitions, working capital and other general corporate purposes. |
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