SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 1-12306
NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-K [ ] Form 11-K [ ] Form 20-F [ ] Form 10-Q
[ ]Form N-SAR
For Period Ended:
December 31, 1999
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[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:
Not Applicable
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Read attached instruction sheet before preparing form. Please print or
type.
Nothing in this form shall be construed to imply that the Commission
has verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
Not Applicable
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Part I. Registrant Information
Full name of registrant:
Integrated Health Services, Inc.
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Former name if applicable: Not Applicable
Address of principal executive office (Street and number):
The Highlands, 910 Ridgebrook Road
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City, State and Zip Code:
Sparks, Maryland 21152
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<PAGE>
Part II. Rule 12b-25 (b) and (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed.
(Check appropriate box.)
[X] (a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition
report on Form 10-K, 20-F, 11-K or Form N-SAR, or portion thereof will
be filed on or before the 15th calendar day following the prescribed
due date; or the subject quarterly report or transition report on Form
10-Q, or portion thereof will be filed on or before the fifth calendar
day following the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
Part III. Narrative
State below in reasonable detail the reasons why the Form 10-K, 11-K,
20F, 10-Q, N-SAR or the transition report portion thereof could not be filed
within the prescribed time period.
(Attach extra sheets if needed.)
The Company requires additional time to file its Form 10-K as a result
of the filing of voluntary petitions by the Company and [substantially] all of
its subsidiaries for protection under Chapter 11 of the United States Bankruptcy
Code with the U.S. Bankruptcy Court for the District of Delaware. As a result of
the bankruptcy filings, the Company's inability to file timely its annual report
on Form 10-K for the fiscal year ended December 31, 1999 could not be eliminated
by the Company without unreasonable effort or expense. The Company intends to
file the subject annual report on Form 10-K no later than the fifteenth calendar
day after the due date of the report.
<PAGE>
Part IV. Other Information
(1) Name and telephone number of person to contact in regard to this
notification
C. Taylor Pickett (410) 773-1000
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(Name) (Area code) (Telephone number)
(2) Have all other periodic reports required under Section 13 or 15(d)
of the Securities Exchange Act of 1934 or Section 30 of the Investment Company
Act of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject report or
portion thereof?
[X] Yes [ ] No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons why a
reasonable estimate of the results cannot be made.
The Company will report a loss for the year ended December 31, 1999, in
excess of $2.2 billion, primarily due to approximately $2.1 billion of
non-recurring charges resulting primarily from a loss on impairment of
long-lived assets due to the impact of the new Medicare prospective payment
system on the Company's results of operations and loss on the sale of the
infusion division. Specific information will be contained in the Form 10-K for
the year ended December 31, 1999.
INTEGRATED HEALTH SERVICES, INC.
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(Name of registrant as specified in charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: March 30, 1999 By: /s/ C. Taylor Pickett
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C. Taylor Pickett
Executive Vice President
and Chief Financial Officer
Instruction. The form may be signed by an executive officer of
the registrant or by any other duly authorized representative. The name
and title of the person signing the form shall be typed or printed
beneath the signature. If the statement is signed on behalf of the
registrant by an authorized representative (other than an executive
officer), evidence of the representative's authority to sign on behalf
of the registrant shall be filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal
criminal violations (see 18 U.S.C. 1001).