ADVANCED HEALTH CORP
S-1MEF, 1996-10-02
MISC HEALTH & ALLIED SERVICES, NEC
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     AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON OCTOBER 2, 1996
 
                                                    REGISTRATION NO. 333-     
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                              -------------------
                                    FORM S-1
                             REGISTRATION STATEMENT
                                     UNDER
                           THE SECURITIES ACT OF 1933
                              -------------------
                          ADVANCED HEALTH CORPORATION
               (Exact name of registrant as specified in charter)
 
<TABLE>
<S>                               <C>                               <C>
            DELAWARE                            8099                           13-3893841
(State or other jurisdiction of     (Primary Standard Industrial            (I.R.S. Employer
 incorporation or organization)     Classification Code Number)          Identification Number)
</TABLE>
 
                              -------------------
 
                             560 WHITE PLAINS ROAD
                           TARRYTOWN, NEW YORK 10591
                                 (914) 332-6688
  (Address, including zip code, and telephone number, including area code, of
                   registrant's principal executive offices)
                              -------------------
 
                             JONATHAN EDELSON, M.D.
                      CHAIRMAN AND CHIEF EXECUTIVE OFFICER
                          ADVANCED HEALTH CORPORATION
                             560 WHITE PLAINS ROAD
                           TARRYTOWN, NEW YORK 10591
                                 (914) 332-6688
 (Name, address, including zip code, and telephone number, including area code,
                        of agent for service of process)
                              -------------------
 
                                WITH COPIES TO:
 
<TABLE>
<S>                                                 <C>
               JOHN J. SUYDAM, ESQ.                                 MARK KESSEL, ESQ.
         O'SULLIVAN GRAEV & KARABELL, LLP                          SHEARMAN & STERLING
               30 ROCKEFELLER PLAZA                                599 LEXINGTON AVENUE
             NEW YORK, NEW YORK 10112                            NEW YORK, NEW YORK 10022
                  (212) 408-2400                                      (212) 848-4000
</TABLE>
 
                              -------------------
 
    APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO THE PUBLIC: As soon as
practicable after this Registration Statement becomes effective.
 
    If any of the securities being registered on this Form are to be offered on
a delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, check the following box.  / /
 
    If this Form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act, please check the following
box, and list the securities act registration statement number of the earlier
effective registration statement for the same offering. /X/  333-06283
 
    If this Form is a post-effective amendment filed pursuant to Rule 462(c)
under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration
statement for the same offering.  / /  ___________________
 
    If delivery of the prospectus is expected to be made pursuant to Rule 434,
please check the following box.  / /
                              -------------------
 
                        CALCULATION OF REGISTRATION FEE
[CAPTION]
<TABLE>
=========================================================================================================
                                                         PROPOSED
                                                         MAXIMUM           PROPOSED
                                                         OFFERING          MAXIMUM
      TITLE OF EACH CLASS OF         AMOUNT TO BE         PRICE       AGGREGATE OFFERING     AMOUNT OF
   SECURITIES TO BE REGISTERED      REGISTERED(1)      PER SHARE(2)        PRICE(2)      REGISTRATION FEE
<S>                               <C>               <C>               <C>               <C>
- - ---------------------------------------------------------------------------------------------------------
Common Stock......................    345,000 shares        $13          $ 4,485,000         $1,359.10
=========================================================================================================
</TABLE>
 
(1) Includes 45,000 shares that the Underwriters have the option to purchase to
    cover over-allotments, if any.
 
(2) Estimated solely for the purpose of calculating the registration fee.
 
                              -------------------
 
    THIS REGISTRATION STATEMENT SHALL BECOME EFFECTIVE UPON FILING WITH THE
COMMISSION IN ACCORDANCE WITH RULE 462(B) UNDER THE SECURITIES ACT OF 1933.

- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
<PAGE>



                INCORPORATION OF CERTAIN INFORMATION BY REFERENCE


     This Registration Statement is being filed pursuant to Rule 462(b) under 
the Securities Act of 1933, as amended.  The information in the Registration 
Statement on Form S-1 filed by Advanced Health Corporation with the Securities 
and Exchange Commission (File No. 333-06283) pursuant to the Securities Act 
of 1933, as amended, and declared effective on October 2, 1996 is incorporated 
by reference into this Registration Statement.


<PAGE>


                                   SIGNATURES
 
    Pursuant to the requirements of the Securities Act of 1933, the Registrant
has duly caused this Registration Statement to be signed on its behalf by the 
undersigned, thereunto duly authorized, in the City of Tarrytown, State of New 
York, on the 2nd day of October, 1996.
 
                                          ADVANCED HEALTH CORPORATION
                                          By:                 *
                                              ..................................
                                                   Jonathan Edelson, M.D.
                                                  Chairman of the Board and
                                                   Chief Executive Officer
 
    Pursuant to the requirements of the Securities Act of 1933, this 
Registration Statement has been signed on the 2nd day of October, 1996,
by the following persons in the capacities indicated:
 
<TABLE>
<CAPTION>
                  SIGNATURE                                        TITLE
                  ---------                                        -----
<S>                                            <C>
                      *                        Chairman of the Board, Chief Executive
 .............................................  Officer and Director (Principal Executive
            Jonathan Edelson, M.D              Officer)
                      *                        President and Director
 .............................................
               Steven Hochberg
             /s/ ALAN B. MASAREK               Chief Operating Officer and Chief Financial
 .............................................  Officer (Principal Financial and Accounting
               Alan B. Masarek                 Officer)
 
 .............................................  Director
               James T. Carney
                      *                        Director
 .............................................
               Barry Kurokawa
                      *                        Director
 .............................................
               Jonathan Lieber
</TABLE>
 
*By:   /s/ ALAN B. MASAREK
     ........................................
              Alan B. Masarek
            As Attorney-in-Fact
 
                                      II-6

<PAGE>


                                 EXHIBIT INDEX

     All exhibits filed with or incorporated by reference in Registration 
Statement No. 333-06283 are incorporated by reference into, and shall be 
deemed part of this registration statement, except the following which are 
filed herewith:

Number Description                                                    Page
- - ------------------                                                    ----

5      Opinion of O'Sullivan Graev & Karabell, LLP 
       (including the consent of such firm)

23.1   Consent of O'Sullivan Graev & Karabell, LLP 
       (included in Exhibit 5).

23.2   Consent of Arthur Andersen LLP regarding 
       financial statements.

24.    Power of Attorney (appears on the signature pages 
       of the Registration Statement No. 333-06283).





                                                                       EXHIBIT 5

                [O'SULLIVAN GRAEV & KARABELL, LLP]




                                  October 2, 1996


VIA EDGAR

Advanced Health Corporation
560 White Plains Road
Tarrytown, New York  10591

                      Advanced Health Corporation
             345,000 Shares of Common Stock, $.01 par value

Dear Sirs:

     We have acted as counsel for Advanced Health Corporation, a
Delaware corporation (the "Company") in connection with the
preparation and filing of the Registration Statement of the
Company on Form S-1 (File No. 333-______) (the "Registration 
Statement") under the Securities Act of 1933, as amended (the 
"Securities Act"), relating to 345,000 shares of its Common 
Stock, $.01 par value (the "Common Stock") (including 45,000 
shares reserved for issuance pursuant to the Underwriters' 
over-allotment option) (such shares of Common Stock are 
referred to as the "Shares"), of the Company.  Capitalized 
terms used but not defined herein shall have the respective 
meanings ascribed to them in the Registration Statement.  
You have requested that we furnish our opinion as to the 
matters hereinafter set forth.

     In that connection, we have examined originals, or copies
certified or otherwise identified to our satisfaction, of such
documents, corporate records and other instruments as we have
deemed necessary for the purposes of rendering the opinions set
forth below.  As to certain questions of fact material to the
opinions contained herein, we have relied upon certificates or
statements of officers of the Company and certificates of public
officials.  In such examination, we have assumed the genuineness of
all signatures, the authenticity of all documents submitted to us
as originals and conformity to authentic originals of all
documents submitted to us as certified or photostatic copies.  

     Based upon the foregoing, we are of the opinion as follows:

     1.   The Company is a validly existing corporation under the
laws of the State of Delaware.

     2.   The Shares have been duly authorized and, when issued and 
sold as contemplated by the Registration Statement and the 
Underwriting Agreement to be entered into among the
Company and Cowen & Company and Volpe, Welty & Company, as
representatives of the Underwriters, will be validly issued,
fully paid and nonassessable.





<PAGE>

Advanced Health Corporation
October 2, 1996
Page 2


     We are admitted to the Bar of the State of New York and we
express no opinion as to the laws of the any other jurisdiction
other than the Delaware General Corporation Law.

     We know that we are referred to under the heading "Legal
Matters" in the Prospectus forming a part of the Registration
Statement, and we hereby consent to such use of our name in said
Registration Statement and to the use of this opinion for filing
with said Registration Statement as Exhibit 5 thereto.

                              Very truly yours,


                              /s/ O'Sullivan Graev & Karabell, LLP






                                                                   Exhibit 23.2
 
                   CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
 
As independent public accountants, we hereby consent to the use of our reports
dated June 19, 1996 (except for the matters discussed in Note 14, as to which
the date is August 14, 1996), June 4, 1996 and June 5, 1996 and to all
references to our Firm included in or made a part of this registration
statement.
 
                                          ARTHUR ANDERSEN LLP
 
New York, New York
October 2, 1996



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