NEW YORK ( TheStreet -- This week's IPO calendar features two very different health care companies.

Horizon Pharmaceuticals ( HZNP) is looking to raise a little more than $60 million through the sales of 5.5 million shares at an estimate range of $10-$12 each. The Northbrook, Ill.-based company plans to use the funds it generates to market its latest drugs in the United States.

Specifically, it's earmarked $37 million to fund commercial activities for Duexis, a pain treatment, and Lodotra, an arthritis pill.

Duexis is tablet that combines ibuprofen and famotidine in a single pill. It looks to be the only drug with this combination on the market. Horizon has already submitted a marketing application for Duexis in the United Kingdom and expects a decision in the first half of 2012.

Lodotra is a low-dose prednisone that is currently marketed in Europe by Mundipharma. The product will compete with Pfizer's ( PFE) Celebrex.

Competition is a concern. Horizon is going up against some of the biggest names in the pharmaceutical business, companies with successful products and deep pockets.

Francis Gaskins, the president of IPO Desktop, suggests that investors wait to see what regulatory reception the drugs receive before buying. Granted, the stock may gain in value by that time, but he believes it is prudent to wait.

"The company is hemorrhaging cash right now," Gaskins says.

At least Horizon has a clear story though.

WhiteGlove House Call Health ( WGH) is a company that is less easily understood. It has a new, but unproven business model that seeks to lower health care costs by providing membership-based health care delivery.

The Austin, Texas-based company competes with regular doctors, retail clinics and traditional emergency room hospitals. WhiteGlove is not a health insurance plan. It charges its members a fixed cost, but then provides them with telephone consultations, prescriptions and testing services. The service covers minor ailments like colds, flus, skin rashes, lab work and physicals. The company also provides some chronic care for blood pressure, cholesterol and diabetes.

WhiteGlove plans to raise $28 million through the sale of 2.5 million shares at an estimate range of $9-$13 each. The company wants to use the money to pay down debt and expand into new markets.

Unfortunately, WhiteGlove isn't profitable and revenues have been uneven. It's difficult to compare WhiteGlove with other companies because of its unique business model. It was established in 2006 with a network of nurse practitioners. As of June, WhiteGlove had 484,000 members in Texas, Arizona and Massachusetts. It's definitely a speculative play for investors.

-- Written by Debra Borchardt in New York.

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