VENCOR INC /NEW/
8-K, 2000-02-28
NURSING & PERSONAL CARE FACILITIES
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================================================================================

                                 UNITED STATES
                      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 (Date of earliest event reported):   February 25, 2000

                          ---------------------------


                                 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.)

                               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

     Vencor, Inc. (the "Company") has announced that its has agreed with its
lenders to amend (the "Amendment") the Company's $100 million debtor-in-
possession financing (the "DIP Financing") to extend its maturity until June 30,
2000.  The Amendment also revises certain financial covenants and permits the
Company to seek an extension of the period of time to file its plan of
reorganization.  The United States Bankruptcy Court for the District of Delaware
must approve the Amendment.  The hearing on the Amendment is scheduled for
March 10, 2000.

     The DIP Financing and existing cash flows will be used to fund the
Company's operations during its restructuring.  As of February 25, 2000, the
Company had no outstanding borrowings under the DIP Financing.

     Vencor and its subsidiaries filed voluntary petitions for reorganization
under Chapter 11 with the Court 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 events or developments.

                                       2
<PAGE>

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 February 25, 2000.

Items 8-9.  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:  February 28, 2000               By: /s/ Richard A. Lechleiter
                                           --------------------------
                                           Richard A. Lechleiter
                                           Vice President, Finance,
                                           Corporate Controller and
                                           Treasurer

                                       3

<PAGE>

                                                                    Exhibit 99.1
[Logo of Vencor, Inc. appears here]


CONTACT:  Richard A. Schweinhart
          Senior Vice President and Chief Financial Officer
          (502) 596-7379

          Richard A. Lechleiter
          Vice President, Finance,
          Corporate Controller and Treasurer
          (502) 596-7734

                  VENCOR EXTENDS MATURITY OF ITS $100 MILLION
                        DEBTOR-IN-POSSSESION FINANCING


     Louisville, KY (February 25, 2000) ---Vencor, Inc. (the "Company") today
announced that its has agreed with its lenders to amend (the "Amendment") the
Company's $100 million debtor-in-possession financing (the "DIP Financing") to
extend its maturity until June 30, 2000. The Amendment also revises certain
financial covenants and permits the Company to seek an extension of the period
of time to file its plan of reorganization. The United States Bankruptcy Court
for the District of Delaware must approve the Amendment. The hearing on the
Amendment is scheduled for March 10, 2000.

     The DIP Financing and existing cash flows will be used to fund the
Company's operations during its restructuring.  As of February 25, 2000, the
Company had no outstanding borrowings under the DIP Financing.

     Vencor and its subsidiaries filed voluntary petitions for reorganization
under Chapter 11 with the Court 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
<PAGE>

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 events or developments.


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