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| CareScience, Inc. |
| 3600 Market Street, 6th Floor, Philadelphia, PA 19104 * (215) 387-9401 |
| Business Description | The company provides Internet-based tools designed to improve the quality and efficiency of health care. Our products use our proprietary clinical algorithms and data collection and storage technologies to perform complex clinical analyses. Our customers use our products to identify clinical inefficiencies and medical errors and monitor the results of implemented solutions. |
| Offering Information Company has | |||
| Trading As | CARE (NASNTL) | Industry | Internet (SIC 7374) |
| Type of Stock Offered | Common Shares | Filing Date | 3/14/00 |
| Domestic Shares Offered | 4,000,000 | Offer Date | 6/28/00 |
| Foreign Shares Offered | 0 | Filing Range | $15.00 - $17.00 |
| Company Shares | 4,000,000 | Offer Price | $12.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.840 |
| Gross Proceeds | $48,000,000 | Selling | $0.500 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 12,906,851 | Employees | 76 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Deutsch Banc Alex. Brown | Lead Manager | (410) 727-1700 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/95 | 12/31/96 | 12/31/97 | 12/31/98 | 12/31/99 | 3/31/99 | 3/31/00 |
| Revenues | 0.585 | 1.116 | 1.041 | 2.552 | 4.351 | 0.718 | 1.629 |
| Income from Oper. | -0.109 | -2.010 | -4.249 | -4.190 | -3.631 | -1.088 | -1.761 |
| Net Income | -0.089 | -1.933 | -4.296 | -4.608 | -3.554 | -1.061 | -1.739 |
| E.P.S | -0.020 | -0.540 | -1.270 | -1.360 | -1.170 | -0.340 | -0.550 |
| Revenue Growth (%) | 90.77 | -6.72 | 145.15 | 70.494 | 126.88 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -1.40 | -1.38 | -1.09 | ||||
| Cash Flow - Inv. | -0.19 | -0.15 | -0.19 | ||||
| Cash Flow - Fin. | -0.37 | -0.02 | -0.10 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 4.51 | Current Assets | 2.97 | Current Ratio | 0.66 |
| Total Liab. | 9.81 | Current Liab. | 4.53 | Debt Ratio | 217.44% |
| Total Equity | -5.30 | Working Cap. | -1.56 | Debt to Equity Ratio | - |
| Cash | 2.00 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for redemption of mandatory redeemable preferred stock and general corporate purposes including working capital and expenditures for our new product lines and potentially, for acquisitions if such opportunities arise in the future. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Morgan, Lewis & Bockius |
| Bank's Law Firm | Reboul MacMurray Hewitt Maynard & Kristol |
| Registrar/Transfer Agent | StockTrans, Inc. |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Foundation Health Systems, Inc | 31.50 | |
| J.H. Whitney III/Whitney Strategic Partners III | 27.40 | |
| Note: represents ownership of 5% or more prior to the offering. | ||