SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) May 23, 1997
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INTEGRATED HEALTH SERVICES, INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 1-12306 23-2428312
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
10065 Red Run Boulevard, Owings Mills, Maryland 21117
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (410) 998-8400
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Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
On May 23, 1997, Integrated Health Services, Inc. issued the press
release filed herewith as Exhibit 99.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
99. Press Release dated May 23, 1997.
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<PAGE>
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.
INTEGRATED HEALTH SERVICES, INC.
Date: May 23, 1997 By: /s/ W. Bradley Bennett
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Name: W. Bradley Bennett
Title: Executive Vice President-Chief
Accounting Officer
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FOR IMMEDIATE RELEASE:
Contact: Robert N. Elkins, M.D.
Chairman & CEO
Marc B. Levin
Executive Vice President
Integrated Health Services, Inc.
(410) 998-8400
Anthony J. Russo, Ph.D., Ext. 202
Noonan/Russo Communications, Inc.
(212) 696-4455
INTEGRATED HEALTH SERVICES ANNOUNCES FINANCING
Owings Mills, MD, May 23, 1997 - Integrated Health Services, Inc. (NYSE: IHS)
today announced that it has entered into an agreement to issue privately
$450,000,000 aggregate principal amount of its 9 1/2% senior subordinated notes
due 2007. The issuance of the notes, which is subject to certain customary
closing conditions, is expected to occur on May 30, 1997. Proceeds of the
offering will be used to repurchase the Company's outstanding 9 5/8% Senior
Subordinated Notes due 2002 and 10 3/4% Senior Subordinated Notes due 2004
pursuant to the Company's previously announced tender offers therefor and to
repay outstanding indebtedness under the Company's credit facility.
The notes have not been registered under the Securities Act of 1933, as amended,
and may not be offered and sold in the United States absent registration of the
notes under such Act or an applicable exemption from registration.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy the notes nor shall there be any sale of these securities in any
state in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state. This
press release does not constitute an offer to purchase the Company's outstanding
notes in any jurisdiction in which, or to or from any person or from whom, it is
unlawful to make such offer under applicable securities or blue sky laws.
