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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 EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JULY 30, 1999
BIRMAN MANAGED CARE, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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DELAWARE 333-11957 82-1584092
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(STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NO.)
OF INCORPORATION
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1025 HIGHWAY 111 SOUTH, COOKVILLE, TENNESSEE 38501
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (931) 372-7800
NOT APPLICABLE
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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Item 5 - Other Events
Birman Managed Care, Inc., (Nasdaq SmallCap "BMACD"), a Delaware corporation,
expects to report financial results for the fourth quarter of its fiscal year
ended June 30, 1999 which will include operating losses in excess of losses
previously anticipated. The Company made significant progress toward operating
at a breakeven level in April and May but, due to a combination of hospital
consulting contract cancellations, delays in commencing new engagements, and an
unexpected announcement by the Office of Inspector General of the Department of
Health and Human Services effectively precluding the implementation of physician
"gain sharing" programs, the company expects to report a loss (unaudited) for
the fourth quarter of approximately $538,000. Of this amount, approximately
$150,000 resulted from additional one-time charges for such items as
discontinued projects and professional fees related to previously reported
matters. Management expects to implement further reductions and expense controls
in light of these results.
The information preceded by the words, "the company expects," or words similar
thereto, are "forward looking statements" as defined in the Private Securities
Litigation Reform Act of 1995.
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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 thereunto duly authorized.
BIRMAN MANAGED CARE, INC.
July 30, 1999 /s/ DAVID N. BIRMAN
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David N. Birman
Chairman of the Board, President and
Chief Executive Officer
July 30, 1999 /s/ SUE D. BIRMAN
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Sue D. Birman
Executive Vice President
(Principal Accounting Officer)
