8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

        Date of Report (Date of earliest event reported): March 21, 2000


                          THE MULTICARE COMPANIES, INC.

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             (Exact name of Registrant as specified in its charter)


           Delaware                                         34-22090
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(State or other jurisdiction of                     (Commission File Number)
         incorporation or
           organization)

                              101 East State Street
                       Kennett Square, Pennsylvania 19348
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          (Address of principal executive offices, including zip code)

Registrant's telephone number, including area code: 610-444-6350


Item 5.  Other Events.

         On March 21, 2000, The Multicare Companies, Inc. announced that it had
begun debt restructuring discussions with its senior lenders and that it did not
expect to make scheduled payments due on its senior and subordinated debt during
the discussion period. See press release attached hereto as Exhibit 99.1.

Item 7.  Financial Statements and Exhibits.

(a)               Financial Statements

                  None.

(b)               Pro Forma Financial Information

                  None.

(c)               Exhibits

                  99.1    Press release dated March 21, 2000


                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                   GENESIS HEALTH VENTURES, INC.

                                                   By:
                                                   /s/ George V. Hager, Jr.
                                                   ----------------------------
                                                   George V. Hager, Jr.
                                                   Executive Vice President and
                                                   Chief Financial Officer


Date:    April 4, 2000

EX-99.1

                                                                    Exhibit 99.1

CONTACT: Lisa Salamon, Media Relations
         610-444-8344
         Investor Relations
         888-295-8621


                 MULTICARE BEGINS DEBT RESTRUCTURING DISCUSSIONS

KENNETT SQUARE, PA, March 21, 2000 --- The Multicare Companies, Inc. announced
today that it has begun discussions with lenders under its Senior Credit
Agreement to revise the company's capital structure.

Multicare reported it does not expect to make scheduled interest and principal
payments under its Senior Credit Agreement led by Mellon Bank, Citibank, Bank of
America, and First Union or interest payments on subordinated debt during the
discussion period. Multicare has requested a grace period while discussions on
an overall restructuring take place. The company's next senior bank debt payment
is scheduled for March 29.

Multicare reported its ability to make scheduled interest and principal payments
has been adversely impacted by an indefinite delay in asset sales due to a lack
of available financing in the long term care market coupled with the continuing
effect of reduced Medicare payments.

Multicare has retained Donaldson Lufkin & Jenrette to develop a plan to revise
the company's capital structure. As of December 31, 1999, Multicare had a total
of $774 million in indebtedness outstanding. The company does not expect that
the debt restructuring will adversely affect its day-to-day operations or impact
its ability to provide high-quality eldercare services

Separately, Multicare's 43.6 percent owner, Genesis Health Ventures, Inc., also
announced it has begun discussions with its senior bank lenders and does not
expect to make scheduled interest and principal payments on its senior debt or
interest payments on subordinated debt.

Multicare is a leading provider of skilled nursing and assisted living services
in the Eastern and Midwestern US.

Statements in this press release which are not historical facts, including
statements regarding the Company's ability to generate liquidity, restructure
debt, revise its capital structure and sell assets are forward-looking
statements. The Company cautions investors that any forward-looking statements
made by the Company involve risks and uncertainties and are not guarantees of
future performance. Numerous factors exist which, in some cases have affected,
and, in the future, could cause results to differ materially from these
expectations, including the Company's substantial indebtedness and significant
debt service obligations, the Company's ability to obtain capital to fund future
growth, the Company's ability to complete divestitures and other transactions to
deleverage its balance sheet, changes in the healthcare system, government
regulation, dependence on reimbursement by third party payors, competition, the
implementation and interpretation of healthcare reform legislation and other
factors as detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
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