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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): September 16, 1998
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VENCOR, INC.
(Exact name of registrant as specified in its charter)
Delaware 001-14057 61-1323993
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation or organization) Identification No.)
3300 Aegon Center
400 West Market Street
Louisville, Kentucky
(Address of principal executive offices)
40202
(Zip Code)
Registrant's telephone number, including area code: (502) 596-7300
Not Applicable
(Former name or former address, if changed since last report.)
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ITEMS 1-4. NOT APPLICABLE.
ITEM 5. OTHER INFORMATION.
On September 16, 1998, Vencor, Inc. (the "Company") announced the
receipt of $177.5 million from the sale of approximately 88% of its ownership of
Atria Communities, Inc. ("Atria") resulting from the merger of Atria with Kapson
Senior Quarters Corp., an affiliate of Lazard Freres Real Estate Investors
L.L.C. A copy of the press release is included as an exhibit to this filing and
is incorporated herein by reference.
ITEM 6. NOT APPLICABLE.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
Exhibit 99.1 Press Release dated September 16, 1998.
ITEMS 8-9. NOT APPLICABLE.
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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 hereunto duly authorized.
VENCOR, INC.
Dated: September 17, 1998 By: /s/ W. Bruce Lunsford
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W. Bruce Lunsford
Chairman of the Board,
President and Chief
Executive Officer
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Exhibit 99.1
[Logo of Vencor, Inc. appears here]
CONTACT: Richard A. Lechleiter
Vice President of Finance, Corporate
Controller and Treasurer
(502) 596-7734
FOR IMMEDIATE RELEASE
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VENCOR ANNOUNCES RECEIPT OF $177.5 MILLION
FROM SALE OF ATRIA COMMUNITIES
LOUISVILLE, Ky. (Sept. 16, 1998) - Vencor, Inc. (NYSE: VC) today announced the
receipt of $177.5 million from the sale of approximately 88% of its ownership of
Atria Communities, Inc. resulting from the merger of Atria with Kapson Senior
Quarters Corp., an affiliate of Lazard Freres Real Estate Investors L.L.C. The
merger was completed on September 15, 1998. In connection with the merger,
Vencor is retaining approximately 11.9% of the outstanding capital stock of the
surviving entity. Proceeds from the Atria merger were used to reduce
outstanding indebtedness. Vencor stated that its total outstanding indebtedness
now approximates $800 million, down from approximately $1.1 billion at the time
of its spin-off transaction which was effective on May 1, 1998.
Vencor is a long-term healthcare provider operating hospitals, nursing
centers and contract ancillary services in 45 states.
