| Healthcare Recoveries, Inc. | |||
| Ticker: | HCRI | 1400 Watterson Tower | |
| Exchange: | NASDAQ-National Market | Louisville, KY 40218 | |
| Industry: | High-Tech (SIC Code 7372) | (502) 454-1340 | |
| Type of Shares: | Common Shares | Filing Date: | 3/14/97 | |
| U.S. Shares: | 7,840,000 | Offer Date: | 5/21/97 | |
| Non-U.S. Shares: | 1,960,000 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 0 | Offer Price: | $14.00 | |
| Secondary Shares: | 9,800,000 | Gross Spread: | $0.91 | |
| Offering Amount: | $137,200,000 | Selling: | $0.54 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - | |||
| Spin out parent firm: | Medaphis Corporation | |||
| Manager | Tier | Phone |
| Bear, Stearns & Co. Inc. | Lead Manager | (212) 272-4850 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Robinson-Humphrey Company, Inc., The | Co-manager | (404) 266-6450 |
| Issuer's Law Firm: | King & Spalding |
| Bank's Law Firm: | Simpson, Thacher & Bartlett |
| Auditor: | Coopers & Lybrand |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $31.42 | Assets: | $23.97 | ||
| Net Income: | $5.10 | Curr Assets: | |||
| EPS: | Liabilities: | $19.86 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $5.88 | Equity: | $4.11 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company provides services designed to recover the value of accident related healthcare benefits provided by its clients to people who are insured, when a third party is responsible for those health benefits. The cmpany offers its services on a nationwide basis to health maintenance organizations, indemnity health insurers, self-funded employee health plans, companies that provide claims administration services to self-funded plans, Blue Cross and Blue Shield organizations and provider organized health plans. Current clients include United Healthcare, Blue Shield of California, Healthsource, Humana, Kaiser Permanente, Oxford Health Plans, Sears and The Prudential. The company had 31.1 million lives under contract from its clientele at January 31, 1997, more than double the 14.5 million lives under contract at December 31, 1994. The rising costs of healthcare and price competition have contributed to industry consolidation and an increasing trend towards outsourcing for non-core functions, including subrogation. |
| Use of Proceeds |
| The proceeds from the proposed offering will be distributed to selling shareholder. |