| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| Medi-Cen Management, Inc. |
| 5301 Wisconsin Avenue, Suite 620, Washington, DC 20015 * (301) 961-2799 |
| The company provides or arranges for the provision of management services to medical practices and develops low-cost physician driven provider networks and medical mall facilities. |
| Manager | Tier | Phone |
| Ferris, Baker, Watts Inc. | Lead Manager | (202) 429-3608 |
| NASNTL: | MCEN | Service: | SIC 8721 | |
| Type of Shares: | Common Shares | Filing Date: | 3/16/98 | |
| U.S. Shares Filed: | 2,000,000 | Filing Range: | $8.00 - $10.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $18,000,000 | |
| Primary Shares: | 2,000,000 | Expenses: | $905,000 | |
| Secondary Shares: | 0 | Post-IPO Shares: | 5,378,046 | |
| Employees: | 16 |
| Issuer's Law Firm: | Gibbons, Del Deo, Dolan, Griffinger & Vecchione |
| Bank's Law Firm: | Venable, Baetjer and Howard, LLP |
| Registrar/Transfer Agent: | Gemisys Corporation |
| 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 | ||
| 12/31/97 | 12/31/97 | ||||
| Revenue: | $6.60 | Assets: | $7.20 | ||
| Net Income: | $1.05 | Curr Assets: | $3.54 | ||
| EPS: | $0.31 | Liabilities: | $5.69 | ||
| Prior EPS: | Curr Liab: | $1.61 | |||
| Cash Flow/Oper: | -$1.16 | Equity: | $1.52 | ||
| Cash Flow/Fin: | $2.97 | Cash: | $0.65 | ||
| Cash Flow/Inv: | -$1.18 | Working Cap: | $1.93 | ||
| Competition |
| The provision of physician practice management services is a highly competitive business in which the Company competes with several national and many regional and local companies. Certain of the Company's competitors are dedicated to or specialize in the management of single-specialty practices focused on specialties such as neurology, cardiology, podiatry and radiology and may compete with the Company for providers of these specialties. The Company's competitors in the development of medical mall facilities include physician hospital organizations, health maintenance organizations and physician practices in general. The Company believes that it is able to compete in this industry by: (i) increasing provider compensation by lowering overhead costs; (ii) allowing health care providers to locally control the practice of medicine; (iii) offering providers the ability to consult with other specialists in the facilities; and (iv) providing the financial incentive and autonomy of controlling the physical assets and non-professional costs of the medical practices through its franchise structure. |
| Business Plan |
| The Company's strategy is to develop and sustain an alliance among high quality regional primary care and specialized licensed health care providers in order to create a comprehensive, integrated health care delivery system that reduces medical costs for patients and health care payors. The Company intends to: (I) Develop Additional Medical Mall Facilities, (ii) Provide Low Cost Medical Services by Increasing Operational Efficiencies and Cost Reductions, (iii) Attract High Quality Health Care Providers, (iv) Diversify Payor Base and (v) Utilize Sophisticated Management Information Systems. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the development of medical mall facilities, the repayment of certain debt to finance acquisitions and expansion of the PCs, working capital and general corporate purposes. |
| Additional Underwriter Compensation |
| Warrant to purchase 200,000 shares/units at $200.00 per share/unit. |