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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): January 21, 2000
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VENCOR, INC.
(Exact name of registrant as specified in its charter)
Delaware 001-14057 61-1323993
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation or Identification No.)
organization)
One Vencor Place
680 South Fourth Street
Louisville, Kentucky
(Address of principal executive offices)
40202-2412
(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 Events
As previously disclosed, Vencor, Inc. (the "Company") has been informed by
the Department of Justice ("DOJ"), acting on behalf of the Health Care Financing
Administration and the Department of Health and Human Services' Office of the
Inspector General, that the Company is the subject of ongoing investigations
into various Medicare reimbursement issues, including various hospital cost
reporting issues, Vencare billing practices and various quality of care issues
in its hospitals and nursing centers. The Company has cooperated fully in these
investigations. The DOJ has recently informed the Company that it intends to
intervene in all remaining pending qui tam actions asserted against the Company
in connection with these investigations.
The Company is engaged in active discussions with the DOJ that may result
in a resolution of some or all of the DOJ investigations and the pending qui tam
actions. The Company believes that the DOJ's intervention in these actions will
facilitate the ability of the parties to reach a final resolution. As
previously disclosed, the Company also believes that such a resolution could
include a payment to the government which would have a material adverse effect
on the Company's liquidity and financial position.
The Company and its subsidiaries filed voluntary petitions for
reorganization under Chapter 11 with the United States Bankruptcy Court in
Delaware on September 13, 1999.
Vencor, Inc. is a national provider of long-term healthcare services
primarily operating nursing centers and hospitals.
Certain statements set forth above, including, but not limited to,
statements containing the words "anticipates," "believes," "expects," "intends,"
"will," "may" and similar words constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such forward-
looking statements are based on management's current expectations and include
known and unknown risks, uncertainties and other factors, many of which the
Company is unable to predict or control, that may cause the Company's actual
results or performance to differ materially from any future results or
performance expressed or implied by such forward-looking statements. These
statements involve risks, uncertainties and other factors detailed from time to
time in the Company's filings with the Securities and Exchange Commission. Such
factors may include, without limitation, the delays or the inability to complete
the Company's plan of reorganization; the availability and terms of capital in
light of recent losses, cash flow shortfalls and the Company's Chapter 11
bankruptcy filing; adverse actions which may be taken by creditors and the
outcome of various bankruptcy proceedings; the Company's ability to attract
patients given its current financial position; and the effects of healthcare
reform and legislation on the Company's business strategy and operations. The
Company cautions investors that any forward-looking statements made by the
Company are not guarantees of future performance. The Company disclaims any
obligation to update any such factors or to announce publicly the results of any
revisions to any of the forward-looking statements included herein to reflect
future
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events or developments.
Items 6-9. Not Applicable.
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: January 24, 2000 By: /s/ Richard A. Lechleiter
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Richard A. Lechleiter
Vice President, Finance,
Corporate Controller and
Treasurer
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