Brookfield, WI (PRWEB) November 27, 2013
Horizon Healthcare, Inc. of Wisconsin (http://www.HorizonHealthcareInc.com) today announced a bond offering to raise up to $1.5 million for its American Telehealthcare Division (http://www.ATelehealthcare.com). In business since 1990, Horizon Healthcare’s mission is to provide behavioral health care services, primarily services for mental illnesses and substance abuse disorders. Details of the bond offering can be viewed at http://www.HorizonBonds.com.
In March of 2013, after six months of research and development, the company launched its integrated e-psychiatry platform AT E-Psych to provide healthcare services over the internet. The AT E-Psych platform integrates business and patient care delivery functions into a single paperless electronic system. The business functions include scheduling, insurance verification, and billing and collection. The patient care functions include live video conferencing, medical records, and electronic prescription of drugs.
The company has been providing services through the AT E-Psych platform since April of 2013, and has successfully provided more than 500 paid patient care encounters. The company is now in the process of expanding its AT E-Psych services throughout Wisconsin. “The proceeds of the bond offering will enable us to expand our internet-based services to other states”, said Karl Rajani, President. “We have received inquiries from healthcare providers in multiple states about using our AT E-Psych platform to provide patient care services. We intend to use the proceeds to grow our internet business nationwide.”
The bonds will be for a term of 10 years and will be self-amortizing. They carry an interest rate of 8.5%, plus a kicker based on the company’s telehealthcare revenues. The company expects to close the offering by February 1, 2014. Principal and interest will be paid monthly commencing on March 1, 2014; and the telehealthcare kicker will be paid annually based on a percentage of the previous year’s gross telehealthcare revenues. The bonds are an unsecured corporate obligation of Horizon.
The offering is for an aggregate of up to $1,500,000. The bonds will be issued in denominations of $10,000, and are offered at a price of par (100% of the principal amount). The minimum order for an individual investor is one bond, i.e., $10,000. An investor may buy one or more bonds. If the offering is fully subscribed, 150 Bonds will be issued. The company must sell a minimum of 25 bonds ($250,000) in order for the issue to close.
The bonds are not being offered or sold pursuant to any underwriting or similar agreement. The bonds will be sold by certain designated officers and employees of the company. The company invites inquiries from registered broker dealers and licensed securities agents interested in offering or selling the bonds.
The company is making the offering in reliance on an exemption from the registration requirements of the Securities Act of 1933 (the “Act”). The bonds will be sold only by prospectus, and only to “accredited investors” as that term is defined in federal law. This announcement is made under the general solicitation and advertising activities permitted under Rule 506(c) of Regulation D of the Act, implemented by the Securities and Exchange Commission effective September 23, 2013.
Horizon Healthcare, Inc. is not in any way affiliated with Horizon Home Care & Hospice, Inc. Horizon Healthcare, Inc. is not affiliated with any company outside of Wisconsin.
Read the full story at http://www.prweb.com/releases/2013/11/prweb11374907.htm.
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