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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: SEPTEMBER 21, 1998
Complete Wellness Centers, Inc.
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(Exact Name of Registrant as specified in its Charter)
Delaware 0-22115 52-1910135
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(State or other jurisdiction (Commission File No.) (I.R.S. Employer
or corporation) Identification No.)
666 11th Street, NW, Suite 200
Washington, D.C. 20001
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: (202) 639-9700
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(Former name or former address, if changed since last report)
Item 5.
I. On September 2, 1998, the Board of Directors approved the addition of
two board seats, making nine (9) the number of authorized seats.
Joseph J. Raymond Jr. was elected to the Company's Board of Directors on
September 2, 1998. A copy of the press release announcing his election is
included as an attachment. In a separate action, on September 10, 1998,
Frederick Simon resigned as a member of the Company's Board of Directors. The
Company's Board is currently comprised of seven (7) members; C. Thomas McMillen,
E. Eugene Sharer, Robert Mrazek, Eric Kaplan, James McMillen M.D., Sergio
Vallejo D.M.D., and Joseph Raymond Jr.
Exhibit I. Press Release
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant caused this report to be signed on its behalf by the undersigned
thereunto duly authorized. Date: September 21, 1998
Complete Wellness Centers, Inc.
By: /s/ E. Eugene Sharer
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E. Eugene Sharer,
Vice Chairman
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[COMPLETE WELLNESS CENTERS INC. LETTERHEAD]
[LOGO]
COMPLETE WELLNESS
CENTERS INC.
FOR IMMEDIATELY RELEASE NASDAQ SCM: CMWL;CMWLW
Contact:
C. Thomas McMillen, Chairman and C.E.O. or Investor Relations Counsel
Complete Wellness Centers, Inc. The Equity Group Inc.
(202) 639-9700 Linda Latman (212) 836-9609
JOSEPH J. RAYMOND, JR. NAMED TO THE BOARD OF DIRECTORS OF
COMPLETE WELLNESS CENTERS
WASHINGTON, D.C.- September 9, 1998 - Complete Wellness Centers, Inc. ("CWC"), a
multidisciplinary healthcare services company, today announced that Joseph J.
Raymond, Jr., age 36, has been elected to the Company's Board of Directors. With
this addition, there are now eight directors serving on Complete Wellness
Centers' Board of Directors.
Separately, the Company announced that its Board of Directors approved a
resolution to increase the size of the Board to nine members; Mr. Raymond's
election leaves one current vacancy on CWC's Board. Additionally, CWC's Board of
Directors approved a consulting agreement with RVR Consulting Group, Inc. to
assist CWC in its operational and acquisition efforts. Mr. Raymond and another
current member of CWC's Board of Directors, Sergio Vallejo, D.M.D., are
currently principals of RVR Consulting Group, Inc.
Earlier in his career, Mr. Raymond was President of JJR, Inc., an independent
financial consulting firm specializing in providing financial, operational and
administrative growth solutions for companies throughout the United States. In
1987, he formed Transworld Services Group ("TSG"), a strategic staffing firm
responsible for placing workers in temporary staffing positions. Under his
leadership, TSG grew to a $45 million annual run rate employing 4,000 people in
five states. TSG was Central Florida's largest temporary staffing agency for
several years and one of the few staffing firms in the United States to achieve
ISO 9002 certification. In 1994, Inc. Magazine cited TSG as the 53rd fastest
growing private company in the United States. Mr. Raymond sold TSG in 1996 to
Corestaff, Inc., where he remained as Vice President of Operations until
December 31, 1997. In January 1998, Mr. Raymond founded RVR Consulting Group,
Inc.
(more)
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Complete Wellness Centers News Release Page 2
September 9, 1998
Mr. Raymond earned his Bachelor of Arts degree from Rollins College, with dual
majors in Business and Economics. He has remained active in the Society for
Human Resource Management since 1990 and has served on the Business Advisory
Board of the Orange County Public School System since 1994.
C. Thomas McMillen, Chairman and Chief Executive Officer of Complete Wellness
Centers, stated, "Joe Raymond, Jr. brings to our Board of Directors an
impressive track record of successful business start-ups. He has special
expertise in the areas of business acquisition, integration and management. He
has hands-on experience in strategic planning, operations and finance. We also
welcome his expertise in all aspects of mergers, acquisitions and business
consolidation. We are fortunate to have Joe on our Board and we are confident
that he will contribute further to achieving the Company's long and short term
goals."
Complete Wellness Centers, Inc., a multi-disciplinary health services company,
develops traditional and alternative provider networks, integrated medical
centers, and related products focused on patient wellness. Its common stock and
warrants trade on the NASDAQ Small Cap market under the symbols, CMWL and CMWLW,
respectively.
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