Nursing home investors plan $150M IPO for Radnor firm
Eagleline Aquisition backed by Genesis Healthcare officers
Eagleline Acquisition Corp., Radnor, says it hopes to raise $150 million in an initial public stock offering (IPO), according to this Nov. 14 preliminary prospectus filed with the Securities and Exchange Commission.
The prospectus says Eagleline will use the proceeds "to capitalize on the significant healthcare industry investing and operating experience" of Eagleline cofounders Steve Fishman, Joseph Fox and Arnold Whitman, who are veteran healthcare and nursing home investors.
Fishman and Whitman, since starting Alpharetta, Ga.-based Formation Capital in 1999, have raised and invested more than $2 billion in doens of healthcare-services and senior-housing companies. Fishman is chairman and Whitman is a director of Genesis HealthCare Inc., Kennett Square, which runs 475 skilled nursing facilities and 56 assisted-living facilities in 34 states.