COHR offering to raise $50 million
Independent service organization COHR of Chatsworth, CA, has fileda registration statement with the Securities and Exchange Commissionfor a secondary stock offering of 1.9 million shares. At COHR'scurrent stock price of $26.50 a share, the offering would
Independent service organization COHR of Chatsworth, CA, has fileda registration statement with the Securities and Exchange Commissionfor a secondary stock offering of 1.9 million shares. At COHR'scurrent stock price of $26.50 a share, the offering would raiseover $50 million. The company will offer 1.5 million shares ofstock, while 400,000 shares will be sold by existing stockholders.
COHR did not indicate what it planned to use the money for,but the ISO has been growing rapidly in the past two years, primarilythrough acquisition. It bought MRI service company Vision MedicalServices in May (SCAN 5/22/96). COHR chief executive Paul Choprahas stated that the company is planning further acquisitions asthe ISO industry consolidates.
In other news, COHR last month moved to a new office in Chatsworth,from its previous headquarters in Los Angeles. The new facilityincludes 80,000 square feet of office space and enables COHR tounify its three main operating divisions for the first time.