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U.S. 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
March 10, 2000
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Date of Report (date of earliest event reported)
Perennial Health Systems, Inc.
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Exact Name of Registrant as Specified in its Charter
Colorado 0-22155 84-0987697
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State or Other Jurisdiction Commission File IRS Employer Identi-
Incorporation or Organization Number fication Number
325 West Main Street, Suite 1400B, Louisville, Kentucky 40202
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Address of Principal Executive Offices, Including Zip Code
(502) 568-8923
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Registrant's Telephone Number, Including Area Code
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ITEM 3. BANKRUPTCY OR RECEIVERSHIP
On March 10, 2000, the Circuit Court of the County of Rock, State of
Wisconsin assumed jurisdiction over Perennial Health Beloit, Inc., a subsidiary
of the Company, and Perennial Health Systems, Inc. (the "Company") and issued an
order appointing William A. Abbott of Bell, Gierhardt & Moore, P.S.C. as
Receiver for the Company's nursing home facility in Beloit, Wisconsin. Notice
of the order was received by the Company on March 15, 2000 and also on that
day, personnel employed by Perennial Health Beloit, Inc. and the Company were
evicted by the Landlord pursuant to the order.
ITEM 5. OTHER EVENTS
On March 21, 2000, Bert L. Blieden and Timothy M. Graven, the two outside
directors of the Company resigned as directors.
On March 22, 2000, Diawa Healthco-3LLC, the primary lender for the Company
and its subsidiaries, terminated its commitment to lend under its line of
credit, declared an event of default to exist thereunder and accelerated the
maturity of its obligation pursuant to the terms of the loan documents.
PERENNIAL HEALTH SYSTEMS, INC.
Dated: March 24, 2000 By:/s/ David W. Lester
David W. Lester,
Chief Financial Officer
