<PAGE>
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):
July 15, 1997
GHS, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-15586 52-1373960
(State or other (Commission (I.R.S.Employer
jurisdiction) File Number) Identification No.)
1350 Piccard Drive, Suite 360, Rockville, Maryland 20850
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (301) 417-9808
N/A
(Former name and former address, if changed since last report)
Page 1 of 4
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Item 2. Acquisition or Disposition of Assets
GHS, Inc. ("GHSI") announced that on July 15, 1997 it
consummated the sale to Health Management Systems, Inc. ("HMS") of
the assets of GHSI's subsidiaries, Global Health Systems, Inc. and
GHS Management Services, Inc. These subsidiaries provide
computerized record-based processing systems and services for
managed care, public health and ambulatory care facilities. HMS
paid to GHSI approximately $2,146,000 for such assets, which amount
includes certain closing adjustments. GHSI will retain its
subsidiary, US NeuroSurgical, Inc., a company that owns and
operates Gamma Knife Centers, as well as its interest in Florida
Specialty Networks, Ltd., a company that manages medical specialty
networks. Mr. Alan Gold, who will become a full-time employee of
HMS, will also remain as the Chairman and President of GHSI
following the closing and run GHSI's remaining operations.
Item 7. Financial Statements and Exhibits.
(b) Pro Forma Financial Information (x)
Pro Forma Consolidated Balance Sheet
for the Quarter Ended March 31, 1997
Pro Forma Consolidated Statement of Operations
for the Quarter Ended March 31, 1997
Pro Forma Consolidated Statement of Operations
for the Year Ended December 31, 1996
Pro Forma Consolidated Statement of Operations
for the Year Ended December 31, 1995
Pro Forma Consolidated Statement of Operations
for the Year Ended December 31, 1994
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(x) Incorporated by reference from GHSI's Definitive
Information Statement on Schedule 14C dated May 28,
1997 filed with the Securities and Exchange
Commission.
(c) Exhibits
Ex. No. Description
10(a) Asset Purchase Agreement, dated as of March 10, 1997, by
and among GHS, Inc., Global Health Systems, Inc., and GHS
Management Services, Inc., Health Management Systems
and Global Health Acquisition Corp. (Incorporated by
reference from GHSI's Annual Report on Form 10-K/A for
the year ended December 31, 1996 filed with Securities
and Exchange Commission.)
99(a) Press Release issued July 16, 1997.
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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.
GHS, INC.
By: /s/ ALAN GOLD
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Name: Alan Gold
Title: President
Dated: July 17, 1997
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<Ex. 99>
For Immediate Release
Contact:
Alan Gold
Chairman
GHS, Inc.
(301) 417-9808
e.mail: agold (at symbol) ghsys.com
GHS, Inc. Consummates Asset Sale to Health Management
Systems, Inc.
Rockville, Maryland, July 16, 1997--GHS, Inc. (OTC Bulletin Board--
GHSI) announced that on Tuesday, July 15, 1997, GHSI consummated
the sale to Health Management Systems of the assets of GHSI's
subsidiaries, Global Health Systems and GHS Management Services.
These subsidiaries provide computerized record-based processing
systems and services for managed care, public health and ambulatory
care facilities. HMSY paid $2,146,000 for such assets, which
amount includes certain closing adjustments. GHSI retains its
subsidiary, US NeuroSurgical, Inc., a company that owns and
operates Gamma Knife Centers, as well as its interest in Florida
Specialty Networks, Ltd. (FSN), a company that manages medical
specialty networks. Mr. Alan Gold, who will become a full-time
employee of HMS, will also remain as the Chairman and President of
GHSI. GHSI plans to use the proceeds from the sale to pursue the
strategic opportunities that exist for its subsidiary companies.
GHS, Inc. is a health care company that, through its subsidiary, US
NeuroSurgical, owns and operates Gamma Knife Centers, and, through
its interest in FSN, participates in the management of medical
specialty networks.
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