DIAGNOSTIC HEALTH SERVICES COMPLETES ADDITIONAL OFFERING NET PROCEEDS TO THE COMPANY $15,800,000.DALLAS--(BUSINESS WIRE)--June 12, 1996--Diagnostic Health Services health services Managed care The benefits covered under a health contract , Inc. ("DHS DHS Department of Homeland Security (USA) DHS Department of Human Services DHS Department of Health Services DHS Demographic and Health Surveys DHS Dirhams (Morocco national currency) ") {NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market: DHSM (common stock), DHSMW (warrants)} announced that it has completed a public offering of 3,000,000 shares of its Common Stock at $6.75 per share. Of the shares sold, 2,555,000 were sold by the Company, and 445,000 shares were sold by selling shareholders. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to the Company were approximately $15,800,000 which will be used for acquisitions, capital expenditures, working capital and retirement of outstanding debt. The Company also anticipates the prompt closing of its previously announced $20,000,000 expanded facility with Texas Commerce Bank ("TCB See trusted computing base. 1. (jargon) TCB - Trouble Came Back. 2. (security) TCB - (Orange Book) Trusted Computing Base. 3. (operating system) TCB - Task Control Block. ") including an acquisition term loan of $17,500,000 and a working capital revolving loan of up to $2.5 million. Max W. Batzer, Chairman and Chief Executive Officer, commented, "We are extremely pleased by the response to our offering and the opportunity it has provided to create a national awareness of DHS. We have created substantial liquidity with our new equity and increased access to favorably termed debt. These resources will permit us to examine larger acquisition opportunities. Additionally, we are now in a position to provide broader outsourcing services in our core radiology and cardiology settings." DHS is a leading provider of medical outsourcing services to hospitals, physicians' offices and other healthcare facilities primarily in the Midwest and South Central United States The South Central United States, South Central states, or Midsouth is a region of the United States located in the south central part of the country. It evolved out of the archaic southwest, which originally was literally the western U.S. South. . DHS provides radiology and cardiology diagnostic services diagnostic services, n.pl the imaging and laboratory capabilities available for determining the cause of an illness. and equipment, as well as departmental management services to healthcare facilities on an in-house and shared basis. The Company also provides skilled allied healthcare personnel on a temporary basis to perform a variety of functions in hospitals, long-term care facilities, physicians' offices, clinics and home healthcare settings. The Company is headquartered in Dallas, Texas, and additionally operates in Oklahoma, Louisiana, Mississippi, Missouri, Arkansas, Illinois, Ohio, Indiana, Iowa, Michigan, Kansas and Mexico City. CONTACT: Diagnostic Health Services, Inc. Max W. Batzer, 214/634-0403 or The Equity Group Inc. Linda Latman 212/836-9609 |
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