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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K/A
AMENDMENT NO. 2
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) August 12, 1998
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InSight Health Services Corp.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
Delaware 0-28622 33-0702770
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(STATE OR OTHER JURISDICTION (COMMISSION (I.R.S. EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
4400 MacArthur Boulevard, Suite 800, Newport Beach, CA 92660
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(949) 476-0733
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(REGISTRANT'S TELEPHONE NUMBER INCLUDING AREA CODE)
N/A
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) FINANCIAL STATEMENTS OF BUSINESSES ACQUIRED.
On August 18, 1997, the Registrant filed an amendment no. 1 to
its current report on Form 8-K and the audited combined
condensed financial statements of Mobile Imaging Consortium
for the years ended December 31, 1996, 1995 and 1994, required
by this item, were attached thereto. However, the Registrant
inadvertently omitted from such amendment combined condensed
financial statements for the three months ended March 31, 1997
and 1996. These financial statements are attached hereto.
(b) PRO FORMA FINANCIAL INFORMATION.
Not applicable.
(c) EXHIBITS
99.1(c) Mobile Imaging Consortium Combined Condensed Financial
Statements for the Three Months Ended March 31, 1997 and
1996 (Unaudited) (filed herewith).
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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.
Date: August 12, 1998
INSIGHT HEALTH SERVICES CORP.
BY: /s/ E. LARRY ATKINS
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E. Larry Atkins
President and Chief Executive Officer
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EXHIBIT 99.1(c)
MOBILE IMAGING CONSORTIUM
COMBINED CONDENSED BALANCE SHEETS
March 31, 1997 and December 31, 1996
<TABLE>
<CAPTION>
March 31, December 31,
1997 1996
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(Unaudited)
<S> <C> <C>
ASSETS
Cash and cash equivalents $ 955,706 $ 381,591
Accounts receivable, net 1,170,840 1,350,324
Prepaid expenses and other current assets 262,142 177,340
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Total current assets 2,388,688 1,909,255
Property and equipment, net 1,397,057 1,690,650
Other assets, net 9,910 12,386
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$3,795,655 $3,612,291
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LIABILITIES AND PARTNERS' CAPITAL
Accounts payable and accrued expenses $ 158,839 $ 247,415
Current portion of long-term debt 105,922 131,017
Current portion of obligations under capital leases 1,085,475 1,077,732
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Total current assets 1,350,236 1,456,164
Long-term debt, less current portion 45,517 67,555
Obligations under capital leases, less current portion 191,767 454,245
Partners' capital 2,208,135 1,634,327
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$3,795,655 $3,612,291
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</TABLE>
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MOBILE IMAGING CONSORTIUM
COMBINED CONDENSED STATEMENTS OF INCOME
Three Months Ended March 31, 1997 and 1996
(Unaudited)
<TABLE>
<CAPTION>
1997 1996
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<S> <C> <C>
Revenues
Net scan revenue $1,741,837 $1,851,044
Interest 1,711 3,548
Other 2,935 26,205
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Total revenue 1,746,483 1,880,797
Total operating expenses 1,172,675 1,040,442
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Net income $ 573,808 $ 840,355
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</TABLE>
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MOBILE IMAGING CONSORTIUM
COMBINED CONDENSED STATEMENTS OF CASH FLOWS
Three Months Ended March 31, 1997 and 1996
(Unaudited)
<TABLE>
<CAPTION>
1997 1996
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<S> <C> <C>
Cash flows from operating activities:
Net income $ 573,808 $ 840,355
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization 296,069 330,585
Changes in current assets and liabilities:
(Increase) decrease in accounts receivable 179,484 (551,233)
(Increase) decrease in prepaid expenses and
other current assets (84,802) 143,040
Decrease in accounts payable and
accrued expenses (88,576) (259,951)
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Net cash provided by operating activities 875,983 502,796
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Cash flows from financing activities:
Principal payments of long-term debt (47,133) (125,590)
Principal payments on capital lease obligations (254,735) (184,108)
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Net cash used in financing activities (301,868) (309,698)
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Net increase in cash 574,115 193,098
Cash, at beginning of period 381,591 972,134
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Cash, at end of period $ 955,706 $1,165,232
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</TABLE>
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MOBILE IMAGING CONSORTIUM
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 1997 AND 1996
1. BASIS OF PRESENTATION
In the opinion of management, the financial information reflects all
adjustments which are necessary to a fair presentation of the financial
position, results of operations and cash flows for the interim periods
presented and are of a normal recurring nature. The statements should be
read in conjunction with the notes to the financial statements of Mobile
Imaging Consortium as of and for the years ended December 31, 1996 and
1995.
