IPO WITHDRAWAL: Critical Homecare Solutions (CHCS)
February 15, 2008 by Douglas A. McIntyreCritical Homecare Solutions Holdings, Inc. withdrew its IPO filing this morning, stating that the withdrawal is “consistent with the public interest and the protection of investors.” Critical Homecare Solutions Holdings originally filed its IPO paperwork October 10, 2007 and had planned to trade on Nasdaq Global Market under the symbol “CHCS.”
We noted this filing back in October, although frankly this looked like it would have a been an easy IPO to come to market.
Critical Homecare Solutions provides comprehensive home infusion therapy services and operates two segments, home infusion therapy, and home nursing. Their cost –effective services, pharmaceuticals, and equipment allow patients to nurse in the home. For nine-months ended in September 2007, they generated net revenues of $143.6 million. The company believed that the increasingly high health care expenditures in the United States and their unique business strategy would provide them with a strong opportunity to generate revenues. Apparently, they changed their mind. Add this IPO withdrawal to the growing list.
Rachel Lopez
February 15, 2008
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