-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IM4q/ShhM7XiOOl8r+F03FFFf+DAz9jy0NjgVqFt0ixyOIP41eaQYzv0Co5KG7hl t1Vjbyz2YQtr1OQ+N5Gl/Q== 0000950008-96-000159.txt : 19960515 0000950008-96-000159.hdr.sgml : 19960515 ACCESSION NUMBER: 0000950008-96-000159 CONFORMED SUBMISSION TYPE: 424B2 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19960514 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: VIVRA INC CENTRAL INDEX KEY: 0000850882 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HOME HEALTH CARE SERVICES [8082] IRS NUMBER: 943096645 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 424B2 SEC ACT: 1933 Act SEC FILE NUMBER: 033-85736 FILM NUMBER: 96564170 BUSINESS ADDRESS: STREET 1: 400 PRIMROSE ROAD STREET 2: SUITE 200 CITY: BURLINGAME STATE: CA ZIP: 94010 BUSINESS PHONE: 4153488200 424B2 1 PROSPECTUS SUPPLEMENT PURSUANT TO RULE 424(B)(2) PROSPECTUS SUPPLEMENT Rule 415(a)(1)(viii) (TO PROSPECTUS DATED MARCH 14, 1995) Registration No. 33-85736 642,051 SHARES VIVRA INCORPORATED COMMON STOCK _________ Vivra Incorporated, a Delaware corporation (the "Company") has issued and sold 642,051 shares (the "Shares") of common stock, $.01 par value per share, accompanied by Preferred Stock Purchase Rights (the "Common Stock"), in connection with the merger of Charleston Kidney Center, Inc., a South Carolina corporation (the "Acquired Company") into Vivra Renal Care, Inc., a Nevada corporation ("VRC"). The Company, VRC, the Acquired Company and the shareholders of the Acquired Company, George Malanos, M.D., Jerry Owens, M.D. and Arthur Smith, M.D., have entered into an Agreement and Plan of Merger (the "Merger Agreement") whereby the Acquired Company will merge into VRC (the "Merger") in exchange for the Shares of the Company. The Common Stock of the Company is listed on the New York Stock Exchange ("NYSE") under the symbol "V". The last reported sale price of the Common Stock on the NYSE on May 10, 1996 was $30.625 per share. _________ THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS SUPPLEMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. The date of this Prospectus Supplement is May 14, 1996. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE The following documents are incorporated by reference in this Prospectus Supplement from the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 14, 1996: (1) Agreement and Plan of Merger among Vivra Renal Care, Inc.; Vivra Incorporated; Charleston Kidney Center, Inc.; George Malanos, M.D.; Jerry Owens, M.D. and Arthur Smith, M.D. Any statement contained herein, or in a document incorporated by reference herein, shall be deemed to be modified or superseded for purposes of this Prospectus Supplement, the Prospectus and the Registration Statement of which it is a part to the extent that a statement contained herein or in any other subsequently filed document which also is incorporated herein modifies or replaces such statement. Any statement so modified or superseded shall not be deemed, in its unmodified form, to constitute a part of this Prospectus Supplement or such Prospectus or Registration Statement. CERTAIN TERMS OF THE MERGER The terms and conditions of the Merger are set forth in the Merger Agreement. The following summary of the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the text of such Agreement. ACQUISITION CONSIDERATION Under the terms of the Merger Agreement and subject to the conditions thereof, in consideration of the transfer and delivery of all of the issued and outstanding stock of the Acquired Company, the purchase price was $14,000,000 (the "Purchase Price"), paid by the delivery of the 642,051 Shares. The Shares were calculated as that number of shares of the Common Stock equal to (i) the Purchase Price divided by (ii) the average closing price of the Common Stock on the NYSE for twenty trading days preceding ten trading days prior to the Closing. Under the Merger Agreement, no shares may be sold until the date on which the Company reports combined financial statements of the Acquired Company and the Company which includes at least 30 days operating results of the Acquired Company. CLOSING The Closing of the transactions contemplated by the Merger Agreement was effective as of May 1, 1996. STOCK EXCHANGE LISTING Pursuant to a condition to each party's obligation to consummate the Merger, the Shares issued in connection with the Merger have been listed on the NYSE. REPRESENTATIONS AND WARRANTIES The Merger Agreement contains customary representations and warranties relating to, among other things, (i) organization, qualification, authorization and similar corporate matters of the Acquired Company; (ii) delivery of and accuracy and completeness of certain financial statements of the Acquired Company; (iii) absence of material changes in the Acquired Company since March 31, 1996; (iv) extent and condition of and title to assets of the Acquired Company; (v) that the Acquired Company conducts no other business; (vi) that execution and delivery of the Merger Agreement will not violate the charter documents of the Acquired Company or the Company, or cause the Company or the Acquired Company to breach any agreement or judgment, or accelerate any indebtedness; (vii) the Acquired Company's compliance with laws, including holding all rights, permits, consents and licenses necessary to conduct its business; (viii) no undisclosed threatened or pending litigation of the Company or the Acquired Company; (ix) no improper payments made by the Acquired Company; (x) no pending or threatened proceedings in eminent domain affecting assets or facilities of the Acquired Company; (xi) insurance policies, labor arrangements, compensation of personnel, employment contracts and compliance with and qualification of employee benefit plans of the Acquired Company; (xii) trade names, trademarks, service marks, copyrights, patents and any pending registrations or applications of the Acquired Company; (xiii) absence of undisclosed liabilities of the Acquired Company; (xiv) material contracts, commitments, instruments and leases to which the Acquired Company is a party and no breach thereof; (xv) no employment of services of any brokers by the Acquired Company or the Company in connection with the Merger; (xvi) delivery of securities documents and filings of the Company to Dr. Malanos, Dr. Owens and Dr. Smith; (xvii) no untrue representation or warranty of the Company or the Acquired Company; (xviii) registration of the Shares under the Securities Act of 1933, which upon issuance will be validly issued, fully-paid, non-assessable and free of preemptive rights; (xix) no transactions by the Acquired Company with affiliates thereof; and (xx) the Merger qualifying as a pooling of interests transaction. CERTAIN COVENANTS Pursuant to the Merger Agreement, Dr. Malanos, Dr. Owens and Dr. Smith have agreed that for a period of five years, they will not, jointly or individually, directly or indirectly (i) compete with the Company, Vivra Renal Care, Inc. or the Acquired Company within a fifty mile radius of any facility of the Acquired Company; (ii) solicit any of the Company's, Vivra Renal Care, Inc.'s or their affiliates' patients or employees for or on behalf of any competing business; and (iii) to the extent that any confidential information becomes available to Dr. -2- Malanos, Dr. Owens and Dr. Smith in the course of the transactions contemplated by the Merger Agreement, use or divulge such information without the prior written consent of the Company. CLOSING AGREEMENTS Under each of the Agreements, the parties executed, acknowledged and delivered at the Closing a Medical Director Agreement between VRC and Drs. Malanos, Owens and Smith. TABLE OF CONTENTS PROSPECTUS SUPPLEMENT INCORPORATION BY REFERENCE . . . . . . . . . . . . . . . . . . . . . . . . 1 CERTAIN TERMS OF THE ACQUISITION . . . . . . . . . . . . . . . . . . . . . 2 PROSPECTUS AVAILABLE INFORMATION . . . . . . . . . . . . . . . . . . . . . . . . . . 2 INCORPORATION BY REFERENCE . . . . . . . . . . . . . . . . . . . . . . . . 2 PROSPECTUS SUMMARY . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 INVESTMENT CONSIDERATIONS . . . . . . . . . . . . . . . . . . . . . . . . 5 USE OF PROCEEDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 PRICE RANGE OF COMMON STOCK . . . . . . . . . . . . . . . . . . . . . . . 8 DIVIDEND POLICY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 CAPITALIZATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 SELECTED CONSOLIDATED FINANCIAL DATA . . . . . . . . . . . . . . . . . . . 10 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 BUSINESS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 MANAGEMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 OUTSTANDING SECURITIES COVERED BY THIS PROSPECTUS . . . . . . . . . . . . 30 LEGAL MATTERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 EXPERTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 ------------------------------------------------------ ------------------------------------------------------ 642,051 SHARES VIVRA INCORPORATED COMMON STOCK ---------- PROSPECTUS SUPPLEMENT May 14, 1996 - -------------------------------------------------------------------------------- -----END PRIVACY-ENHANCED MESSAGE-----