UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): November 30, 1998
Commission file number 1-12055
PARACELSUS HEALTHCARE CORPORATION
(Exact name of registrant as specified in its charter)
CALIFORNIA 95-3565943
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
515 W. Greens Road, Suite 800, Houston, Texas
(Address of principal executive offices)
77067 (281) 774-5100
(Zip Code) (Registrant's telephone number,
including area code)
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ITEM 5. OTHER EVENTS
The New York Stock Exchange ("NYSE") recently notified Paracelsus Healthcare
Corporation ("the Company") that it was not in compliance with certain
financial criteria for continued listing. The NYSE has given the Company until
January 11, 1999 to submit a plan for bringing the Company back into compliance
with the original listing standards over a three-year period. The Company
intends to submit such a plan and to work with the NYSE to continue the
Company's listing. Although the Company expects that the plan it will submit
will bring the Company into compliance with the NYSE's criteria, there can be
no assurance that the NYSE will accept the Company's plan. A delisting of the
Company's stock would likely have a material adverse impact on the price and
liquidity of the market for the Company's stock.
Certain statements in this release are "forward-looking statements" made
pursuant to the safe harbor provisions for the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve a number of risks and
uncertainties. Additionally, there are many factors which may cause the
Company's actual performance to differ materially from forecasted results.
Given these uncertainties, prospective investors are cautioned not to place
undue reliance on such forward-looking statements.
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SIGNATURE
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 thereunto duly authorized.
Paracelsus Healthcare Corporation
(Registrant)
Dated: December 18, 1998 By: /S/ JAMES G. VANDEVENDER
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James G. VanDevender
Senior Executive Vice President,
Chief Financial Officer
& Director
