-----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, LJEjJVTV5ARap5IANJfQn39hju5OxIoix4SkIJ+bt9mfNU6slh92q+xLf4mO2AhG 4Emr10omtea+X4tSczMfVg== 0000950142-96-000262.txt : 19960701 0000950142-96-000262.hdr.sgml : 19960701 ACCESSION NUMBER: 0000950142-96-000262 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960617 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960628 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MULTICARE COMPANIES INC CENTRAL INDEX KEY: 0000890925 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-SKILLED NURSING CARE FACILITIES [8051] IRS NUMBER: 223152527 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22090 FILM NUMBER: 96587801 BUSINESS ADDRESS: STREET 1: 411 HACKENSACK AVE CITY: HACKENSACK STATE: NJ ZIP: 07601 BUSINESS PHONE: 2014888818 MAIL ADDRESS: STREET 1: 411 HACKENSACK AVENUE CITY: HACKENSACK STATE: NJ ZIP: 07601 8-K 1 FORM 8-K UNITED STATES 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 (Date of earliest event reported) June 17, 1996 THE MULTICARE COMPANIES, INC. (Exact name of registrant as specified in its charter) DELAWARE 34-22090 22-3152527 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 411 HACKENSACK AVENUE, HACKENSACK, NJ 07601 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (201) 488-8818 Page 1 of 7 pages Exhibit Index is on page 4 2 Item 5. OTHER EVENTS On June 18, 1996, the Registrant announced in a press release that it had signed a definitive agreement to acquire the ADS Group. Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (a) Financial Statements (to be filed by Amendment): Not Applicable (b) Pro Forma Financial Information (to be filed by Amendment): Not Applicable (c) EXHIBITS Exhibit 99.8 Press Release dated June 18, 1996 3 SIGNATURES Pursuant to the requirements of the Securities Exchange of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: June 28, 1996 THE MULTICARE COMPANIES, INC. By: /s/ Stephen R. Baker Name: Stephen R. Baker Title:Executive Vice President and Chief Operating Officer 4 EXHIBIT INDEX PAGE Exhibit 99.8 Press Release dated June 18, 19965 5 EX-99 2 EXHIBIT 99.8 EXHIBIT 99.8 FOR IMMEDIATE RELEASE June 18, 1996; 7:00 am EST Contact: Stephen R. Baker Executive Vice President, Chief Operating Officer (201) 488-8818 Melody A. Carey Director, Investor Relations (201) 535-5985 MULTICARE TO ACQUIRE A D S - -Company is the Largest Provider of Long-Term Care in Massachusetts- HACKENSACK, NJ, June 18, 1996 -- The Multicare Companies, Inc. (NYSE: MUL) announced today that it has signed a definitive agreement to acquire The A D S Group, a privately-held long-term care company headquartered in Newton, Massachusetts. Alan D. Solomont, founder and chairman of A D S (and a member of Multicare's board of directors) will join Multicare as its vice chairman and Susan S. Bailis, currently president, chief operating officer and a principal of A D S, will joint Multicare as a senior vice president as well as president of the new A D S/Multicare subsidiary. A D S owns, operates or manages 23 long-term care facilities and provides consulting services to an additional 14 facilities, totaling approximately 4,700 beds. A D S also manages 21 hospital-based subacute units with approximately 530 beds, almost all of which are located in Massachusetts. Additionally, A D S manages five, and is constructing three additional assisted living facilities, which are expected to be completed by the end of 1996, totaling 826 beds, all of which are located in Massachusetts. Under the terms of the agreement, Multicare will pay approximately $62.6 million, assume or repay approximately $27.0 million in debt and issue 531,507 shares of its common stock for A D S. The closing will occur upon the receipt of all required regulatory consents and licenses, 2 the approval of A D S' shareholders, the satisfactory completion of Multicare's due diligence and the receipt of consent of Multicare's lender. The transaction is expected to be completed during the fourth quarter of 1996. "The A D S acquisition is a good strategic fit for Multicare presenting us with many exciting growth opportunities," said Daniel E. Straus, president and co-chief executive officer of Multicare. "This acquisition firmly positions Multicare in the state of Massachusetts, expanding our presence in the east coast market as a cost effective provider of quality long-term care services. In addition to being consistent with the Company's clustering and geographic strategies, this acquisition enhances and complements our capabilities in the areas of assisted living and subacute care." "We are also extremely pleased to have Alan and Susan join our senior management team," stated Mr. Straus. "Alan is a former president of the Massachusetts Federation of Nursing Homes and Susan is a member of the National Payment Assessment Commission. I am confident that Multicare will benefit from their expertise in the long-term care industry." "We are pleased to align ourselves with a premium provider in the long-term care market," said Alan D. Solomont, A D S' founder and chairman. "Together, our relationships with hospitals and assisted living facilities will enable us to pursue additional opportunities. Furthermore, this partnership expands our capabilities in managing subacute care for hospitals as well as skilled nursing facilities." Multicare, founded in 1984, is a leading provider of high quality long-term care and specialty medical services. Upon completion of the A D S acquisition, Multicare will own, lease or manage over 150 long-term care facilities with more than 17,000 beds in 11 states. Multicare also owns and operates a number of ancillary health care businesses, including a significant institutional pharmacy business. The 3 Company's long-term care services included skilled nursing care, subacute care, assisted living, home health care and related support activities traditionally provided in long-term care facilities. Certain of the matters discussed in this press release contain forward-looking statements that involve risk and uncertainties. Although Multicare believes that the assumptions accompanying such forward-looking statements are reasonable, it cannot give any assurance that expected results will occur. A significant variation between actual results and any of such assumptions may cause actual results to differ materially from expectations. Reference should be made to Multicare's Form 10-K for the year ended December 31, 1995 for more specific information concerning such risks and assumptions. -----END PRIVACY-ENHANCED MESSAGE-----