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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) APRIL 4, 1997
UNISON HEALTHCARE CORPORATION
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(Exact Name of Registrant as Specified in Its Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation)
0-27374 86-0684011
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(Commission File Number) (I.R.S. Employer Identification No.)
8800 NORTH GAINEY CENTER DRIVE, SUITE 245, SCOTTSDALE, ARIZONA 85258
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(Address of Principal Executive Offices) (Zip Code)
(602) 423-1954
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(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS
On April 4, 1997, Unison HealthCare Corporation ("Unison") issued a news
release announcing that Jerry M. Walker, president and chief executive officer
of the Company, has been placed on administrative leave. The news release is
filed as Exhibit 99.1 to this Form 8-K.
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 hereto duly authorized.
UNISON HEALTHCARE CORPORATION
April 4, 1997 By /s/ LISA M. BEUCHE
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Lisa M. Beuche
Vice President-Financial Reporting
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EXHIBIT INDEX
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EXHIBIT NO. DESCRIPTION OF EXHIBIT
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99.1 Unison HealthCare Corporation news release announcing that
Jerry M. Walker, its president and chief executive officer,
has been placed on administrative leave.
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contact: David A. Kremser
(602) 423-1954
UNISON PRESIDENT ON ADMINISTRATIVE LEAVE
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ENSURES FULL AND IMPARTIAL INVESTIGATION BY INDEPENDENT FIRMS
Scottsdale, Arizona (April 4, 1997) - Unison HealthCare Corporation
(Nasdaq/NM:UNHC) today announced that Jerry M. Walker, president and chief
executive officer of the Company, has been placed on administrative leave. The
action was taken in order that the ongoing, previously announced investigation
relating to the Company's restatement of the nine months ended September 30,
1996, could be conducted as objectively and impartially as possible.
Mr. Walker said, "I fully endorse the decision of the executive
committee which places me on administrative leave until the ongoing independent
investigation is completed. Such an action ensures full and impartial
disclosure from all employees and will help bring the investigation to a timely
conclusion."
David A. Kremser, chairman of the executive committee of Unison's Board
of Directors, will assume Mr. Walker's responsibilities in the interim.
Unison announced on March 19, 1997, that it expected to restate its
financial results for the nine months ended September 30, 1996. The
announcement indicated that the restatement was made necessary as a result of
inaccuracies generated by the accounting systems of the Company. In that same
announcement, the Company reported that the Board of Directors had engaged the
law firm of Brown, Parker & Leahy L.L.P. of Houston, Texas, to conduct a special
review of the facts and circumstances surrounding the restatement, assisted by
the accounting firm of Price Waterhouse LLP.
Unison HealthCare Corporation is a provider of quality long-term and
specialty health care services. The Company provides a broad range of health
care services including nursing care, rehabilitation therapy, pharmacy and
other specialized services primarily to subacute patients.
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