Prospectus Supplement No. 46 Filed pursuant to
To the Prospectus dated January 24, 1997 Rule 424(b)(3)
As Supplemented to Date Registration No.: 333-01926
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 of earliest event reported): October 3, 1997
DOCTORS HEALTH, INC.
(Exact name of registrant as specified in its charter)
MARYLAND 333-1926 52-1907421
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification Number)
10451 Mill Run Circle
10th Floor
Owings Mills, Maryland
21117
(Address of principal executive offices)
(Zip Code)
(410) 654-5800
(Registrant's telephone number, including area code)
The date of this Prospectus Supplement is October 15, 1997
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Item 5. Other Events
NYLCare Health Plans of the Mid-Atlantic, Inc.
On October 3, 1997, Doctors Health, Inc., (the "Registrant")
entered into a Medicare Network Management Agreement (the "Network Agreement")
and an Administrative Services Provider Contract for Global Risk Services (the
"Service Agreement") with NYLCare Health Plans of the Mid-Atlantic, Inc.
("NYLCare"). Pursuant to the Network Agreement, NYLCare designated the
Registrant as "Network Manager" responsible for managing the health care needs
of NYLCare's approximately 10,000 Medicare enrollees who reside in certain
portions of Maryland, Washington, D.C. and Virginia. Under this agreement, the
Registrant will provide (i) network management services including quality
assurance, utilization management and review, finance, information systems
management, credentialing and other related services to primary care and
specialist physician, and (ii) medical management services for NYLCare's
Medicare patients through the Registrant's care management department.
In addition, the Registrant has accepted responsibility for
meeting the health care needs of these enrollees through the Registrant's
network of primary care physicians ("PCPs"), specialists and other health care
providers and NYLCare's network of approximately 2,500 PCPs and 8,500
specialists. The Network Agreement terminates on October 1, 2000, and is subject
to automatic renewal for additional one-year terms.
Pursuant to the Service Agreement, the Registrant has agreed
to arrange for the delivery of certain designated medical services to NYLCare's
Medicare enrollees for a percentage of the premium. The Service Agreement
requires the Registrant to coordinate primary care, specialist, hospitalization
and certain other medical services. The Service Agreement terminates on October
1, 2000 and is subject to automatic renewal for additional one-year terms.
Two-for-one stock split
On September 30, 1997, the Registrant announced a two-for-one
stock split of its outstanding Common Stock, $.01 par value per share, to
shareholders of record as of September 30, 1997. The distribution is expected to
occur prior to October 30, 1997.
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Incorporation in Delaware
On October 10, 1997, the Registrant completed its
re-incorporation as a Delaware corporation by merging the Maryland corporation
Doctors Health, Inc. into a newly created Delaware corporation, Doctors Health,
Inc. with the Delaware corporation surviving. There were no material amendments
to the rights and privileges of the Registrant's stockholders as a result of
this transaction.
Item 7. Exhibits
Number Title
- - - ------ -----
10.55 Medicare Network Management Agreement dated October 1, 1997.
10.56 Administrative Service Provider Contract for Medicare Global
Risk Services
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.
DOCTORS HEALTH, INC.
Date: October 14, 1997 /s/ Stewart B. Gold
-------------------
Stewart B. Gold
President
