Critical Homecare Solutions, which recently signed a definitive agreement to be acquired by MBF Healthcare Acquisition for $420 million, was already in registration for a future IPO. The company had not yet priced the offering, so it is impossible to determine how the company was being valued. The registration statement was withdrawn earlier this week.
The Critical Homecare Solutions filings can be found here:
sec.gov
Feb. 15, 2008, 7:43AM
Critical Homecare Cancels IPO for Buyout
© 2008 The Associated Press
NEW YORK — Critical Homecare Solutions Holdings Inc. has canceled its planned initial public offering after agreeing to a takeover by blank check company MBF Healthcare Acquisition Corp., according to a regulatory filing on Thursday.
In the filing, Critical Homecare, which provides patients with home intravenous drug services, asked the Securities and Exchange Commission to withdraw its registration statement for the proposed IPO.
Earlier this month, MBH agreed to acquire Critical Homecare's outstanding capital stock for $420 million. Critical Homecare is a portfolio company of private equity firm Kohlberg & Co. LLC.
On the deal's closing, MBH will change its name to Critical Homecare Solutions Inc. The company's common stock will continue to trade on the American Stock Exchange.
MBH expects the acquisition to close in the second or third quarter of 2008, pending MBH stockholder approval and other customary closing conditions.
The combined company will be led by Critical Homecare President and Chief Executive Robert Cucuel.
Critical Homecare first registered for its proposed IPO in October 2007. In its prospectus, the company did not disclose the expected number or price range of the shares to be offered, but indicated the offering price could total up to $125 million.
UBS Securities, Jefferies & Co. and Piper Jaffray & Co. had planned to underwrite the IPO.
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