| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Balanced Care Corporation |
| 5021 Louise Drive, Suite 200, Mechanicsburg, PA 17055 * (717) 796-6100 |
| The company was formed in April 1995 to develop senior care continuums which meet the needs of upper middle, middle and moderate income populations in non-urban, secondary markets. |
| Manager | Tier | Phone |
| BancAmerica Robertson Stephens | Lead Manager | (415) 989-8500 |
| Smith Barney Inc. | Co-manager | (212) 723-7300 |
| NYSE: | BAL | Service: | SIC 8361 | |
| Type of Shares: | Common Shares | Filing Date: | 10/14/97 | |
| U.S. Shares: | 7,000,000 | Offer Date: | 2/11/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 7,000,000 | Offer Price: | $6.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.46 | |
| Offering Amount: | $70,000,000 | Selling: | $0.26 | |
| Expenses: | $0 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 15,606,343 | |||
| Employees: | 2000 |
| Issuer's Law Firm: | Kirkpatrick & Lockhart |
| Bank's Law Firm: | Shearman & Sterling |
| Auditor: | KPMG Peat Marwick |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 6/30/97 | 6/30/97 | ||||
| Revenue: | $49.48 | Assets: | $33.84 | ||
| Net Income: | -$4.49 | Curr Assets: | $24.77 | ||
| EPS: | -$0.56 | Liabilities: | $22.04 | ||
| Prior EPS: | -$0.29 | Curr Liab: | $9.10 | ||
| Cash Flow/Oper: | -$0.04 | Equity: | $11.81 | ||
| Cash Flow/Fin: | $14.58 | Cash: | $7.91 | ||
| Cash Flow/Inv: | -$7.20 | Working Cap: | $15.67 | ||
| Competition |
| The senior living and health care industry is highly competitive and the Company believes that competition in its current and targeted markets will continue to increase. The Company faces current and prospective competition for residents and patients and for employees from numerous local, regional and national providers of facility-based assisted living and long-term care, as well as rehabilitation therapy and home-based health care providers. Many of the Company's current and potential competitors are significantly larger and have greater financial and marketing resources than the Company. There are currently few regulatory and other barriers to entry into the assisted living industry. If the development of new assisted living facilities surpasses the demand for such facilities in particular markets, such markets could become saturated. The Company also expects to compete for acquisitions of additional assisted living and long-term care facilities and other senior health care operations. Competition could limit the Company's ability to attract residents and patients and expand its business and could have a material adverse effect on the Company's business, results of operations and financial condition. |
| Business Plan |
| The Company's objective is to be a leading provider of continuums of senior living and health care services in selected non-urban, secondary markets. In order to achieve this goal, the Company intends to: (I) Provide a Range of High Quality, Individualized Senior Care Services and Programs and (ii) Develop the Balanced Care Continuum. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay long term indebtedness, to fund the aggregate purchase price for pending acquisitions, for general corporate purposes including working capital and possible future acquisitions. |
| Name of Shareholder | % Owned Before | % Owned After |
| John M. Brennan | 0.14 | 0.08 |
| Meditrust | 0.12 | 0.07 |
| Brad E. Hollinger | 0.09 | 0.05 |
| William R. Foster, Sr. | 0.09 | 0.05 |
| Inter Vivos Trust of Billy Ray Foster | 0.09 | 0.05 |
| F. David Carr | 0.08 | 0.05 |
| Henry L. Hillman, Elsie Hilliard | 0.08 | 0.04 |
| David K. Barber | 0.07 | 0.04 |
| KD Investments | 0.07 | 0.04 |
| Omega Ventures II, L.P. | 0.06 | 0.03 |
| Robert J. Sutton | 0.05 | 0.03 |
| Officer Name | Title | Age |
| Brad E. Hollinger | Chairman of the Board, President and Chief Executive Officer and a Director | 43 |
| William T. McCarthy | Vice President | 45 |
| Brian L. Barth | Vice President -- Acquisitions | 37 |
| Russell A. Digilio | Vice President -- Assisted Living Group | 41 |
| David K. Barber | Vice President -- Construction and Design | 43 |
| Robert J. Sutton | Vice President -- Corporate Services and Secretary | 48 |
| Roger A. Breed | vice President -- Development | 48 |
| Mark S. Moore | Vice President -- Finance and Treasurer | 36 |
| Kurt A. Meyer | Vice President -- Health Care Group | 50 |
| John D. Foster | Vice President -- Long Term Care | 47 |