First Choice Healthcare Solutions Files S-1 for Potential Public Offering

TL;DR

<b>First Choice Healthcare Solutions, Inc. has filed an S-1 registration statement, signaling potential entry into the public markets.</b>

AI Summary

First Choice Healthcare Solutions, Inc. (FCHS) filed a IPO Registration (S-1) with the SEC on May 13, 2024. First Choice Healthcare Solutions, Inc. filed an S-1 registration statement on May 13, 2024. The company was formerly known as Medical Billing Assistance, Inc. The filing covers the period ending December 31, 2023. Key financial data from 2021, 2022, and 2023 is included. The company operates in the Medical Laboratories sector (SIC 8071).

Why It Matters

For investors and stakeholders tracking First Choice Healthcare Solutions, Inc., this filing contains several important signals. This S-1 filing indicates the company is preparing for a significant corporate event, likely an Initial Public Offering (IPO), which could provide capital for expansion and increase its public profile. The inclusion of historical financial data allows investors to assess the company's performance and growth trajectory leading up to this potential public offering.

Risk Assessment

Risk Level: — First Choice Healthcare Solutions, Inc. shows moderate risk based on this filing. The company's reliance on specific commercial payors and potential customer concentration risk, as indicated by the S-1 filing, presents a medium-level risk to its revenue stability.

Analyst Insight

Monitor the S-1 filing for details on the proposed offering size, valuation, and use of proceeds to assess investment potential.

Key Numbers

• 2023-12-31 — Fiscal Year End (The company's fiscal year ends on December 31st.)
• 2021-2023 — Reporting Period (Financial data is provided for these years.)
• 8071 — SIC Code (Standard Industrial Classification for Medical Laboratories.)

Key Players & Entities

• First Choice Healthcare Solutions, Inc. (company) — Filer of the S-1 registration statement.
• Medical Billing Assistance, Inc. (company) — Former name of First Choice Healthcare Solutions, Inc.
• 2024-05-13 (date) — Date the S-1 filing was made.
• 333-279357 (registration_number) — SEC file number for the S-1 filing.
• 709 S. HARBOR CITY BLVD. SUITE 250 (address) — Business and mailing address of the company.
• Melbourne, FL 32901 (address) — City, State, and ZIP code of the company's address.

FAQ

Risk Factors

• Customer Concentration Risk [medium — financial]: The company's revenue and accounts receivable may be significantly dependent on a limited number of commercial payors, posing a risk to financial stability.

Industry Context

First Choice Healthcare Solutions operates within the healthcare services sector, specifically focusing on medical laboratories.

Regulatory Implications

The filing is made under the Securities Act of 1933, which governs the registration of securities.

What Investors Should Do

1. Review the full S-1 filing for detailed financial statements and risk factors.
2. Analyze the company's business model and competitive landscape within the medical laboratory industry.
3. Track future SEC filings for updates on the IPO process, including pricing and effective dates.

Key Dates

• 2024-05-13: S-1 Filing — Indicates preparation for a public offering.

Glossary

S-1

A registration statement filed with the SEC by companies intending to go public. (Signals the company's intent to offer securities to the public.)

Year-Over-Year Comparison

This is the initial S-1 filing for First Choice Healthcare Solutions, Inc., providing foundational information for potential investors.

Key Financial Figures

• $0.001 — hares of Shares common stock, par value $0.001 (the "Shares"). No significant public m
• $5.00 — ic offering price of our Shares will be $5.00 per Share. We intend to apply to list
• $15,800,000 — ife Pharmacy, a Florida corporation for $15,800,000 to be paid in a combination of cash, as
• $3,500,000 — and wellness, in an all-stock deal for $3,500,000. Our Growth Strategy Our go forward

Filing Documents

• forms-1.htm (S-1) — 3151KB
• ex23-1.htm (EX-23.1) — 6KB
• ex107.htm (EX-FILING FEES) — 59KB
• forms-1_001.jpg (GRAPHIC) — 6KB
• ex23-1_001.jpg (GRAPHIC) — 18KB
• 0001493152-24-018820.txt (&nbsp;) — 13776KB
• fchs-20231231.xsd (EX-101.SCH) — 52KB
• fchs-20231231_cal.xml (EX-101.CAL) — 88KB
• fchs-20231231_def.xml (EX-101.DEF) — 300KB
• fchs-20231231_lab.xml (EX-101.LAB) — 396KB
• fchs-20231231_pre.xml (EX-101.PRE) — 373KB
• forms-1_htm.xml (XML) — 3567KB

RISK FACTORS

RISK FACTORS 7 CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS 18

USE OF PROCEEDS

USE OF PROCEEDS 19 DIVIDEND POLICY 20 CAPITALIZATION 20

DESCRIPTION OF CAPITAL STOCK

DESCRIPTION OF CAPITAL STOCK 23

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 26 DESCRIPTION OF BUSINESS 30 MANAGEMENT 45

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 47 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 48

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 48 SHARES ELIGIBLE FOR FUTURE SALE 49 MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS 51

UNDERWRITING

UNDERWRITING 54 DETERMINATION OF OFFERING PRICE 58 INTERESTS OF NAMED EXPERTS AND COUNSEL 58 EXPERTS 58 LEGAL MATTERS 59 WHERE YOU CAN FIND ADDITIONAL INFORMATION 59 INDEX TO FINANCIAL STATEMENTS F-1 i You should rely only on the information contained in this prospectus or contained in any free writing prospectus we may authorize to be delivered or made available to you. Neither we nor any of the underwriters have authorized anyone to provide any information or make any representations other than those contained in this prospectus or in any free writing prospectus. We take no responsibility for and can provide no assurance as to the reliability of any other information that others may give you. We are offering to sell and seeking offers to buy Shares only in jurisdictions where offers and sales are permitted. The information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of the common stock. Our business, financial condition, results of operations, and prospects may have changed since such a date. Through and including, __________, 2024 all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer's obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription. For investors outside of the United States: Neither we nor any of the underwriters have done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United of this prospectus outside of the United States. See "Underwriting" on page 54. REGARDING INDUSTRY AND

Business

Business Overview First Choice Healthcare Solutions, Inc. ("FCHS," "the Company," "we," "our" or "us") is actively engaged in pivoting the Company's strategy away from our historic orthopedic business model to a strategy of developing a national chain of innovative primary care and wellness clinics focused on providing life improvement services (anti-aging, weight management, and hormone replacement) and pharmacy services, in key high growth markets throughout the U.S. We still provide rehabilitative services, such as Physical Therapy, but our strategy is to move to the operation of primary care and wellness clinics. Operating Subsidiaries We have operated as First Choice Healthcare Solutions, Inc., a Delaware corporation, since February 13, 2012. Our corporate address is 95 Bulldog Blvd., Suite, 202, Melbourne, Florida, 32901 and our phone number is 321-725-0090. Our corporate website address is www.myfchs.com. The information contained on our website is not incorporated by reference herein. We have historically operated our business through two wholly owned subsidiaries. FCID Medical, Inc. ("FCID Medical") is the subsidiary under which we own and operate First Choice Medical Group of Brevard, LLC, ("FCMG"), our original medical services practice. Our Legacy Healthcare Services Business Historically, we offered fully integrated Orthopedic services, delivering diagnostics, surgery and treatment services. In addition, we offered a suite of imaging services, including X-Ray, MRI and ultrasound. The scope of ancillary services included interventional and pain management, orthopedic urgent care services, as well as physical and occupational therapy recovery services in the below areas. Orthopedic Foot & ankle service treating achilles tendonitis, tears, bunions, diabetic foot problems and ankle arthritis. Hand & arm Service treating hand and elbow disorders, carpal tunnel syndrome, trigger finger, nerve injuries, and complex hand & elbow fractures. Hip

View Full Filing

View this S-1 filing on SEC EDGAR