_________________________________________________________________
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):
September 27, 1996
IATROS HEALTH NETWORK, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-20345 23-2596710
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
Registrant)
10 Piedmont Center, Suite 400, Atlanta, Georgia 30305
(Address of principal executive office) (Zip Code)
Registrant's telephone number: (404) 266-3643
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Item 5.
On September 27, 1996, a subsidiary of registrant entered into a Purchase
and Sale Agreement with Longmeadow of Taunton and John Adams Nursing Home for
the purchase by that subsidiary of the assets of Longmeadow of Taunton and John
Adams Nursing Home. Longmeadow of Taunton owns the real estate and assets used
in the operation of a long term health care facility located at 68 Dean Street,
Taunton, Massachusetts. The Longmeadow of Taunton facility has approximately
100 nursing home beds and a 51 bed vacant facility called Hartshorn House.
John Adams Nursing Home owns the real estate and assets used in the operation
of a long term health care facility located at 211 Franklin Street, Quincy,
Massachusetts. The John Adams Nursing Home has approximately 71 nursing home
beds.
The purchase price for Longmeadow of Taunton and John Adams Nursing Home
is $8,100,000 and that purchase price was reached through arm's length
negotiations based on the parties' estimation of the fair market value of the
assets sold. The Purchase and Sale Agreement specifies that the closing date
for the purchase will occur on the last day of the month in which written
approval of a transferee is obtained from the Massachusetts Department of
Public Health. From the date of the Agreement through October 15, 1996, the
purchaser will be conducting due diligence investigations.
The Purchase and Sale Agreement is assignable by registrant's subsidiary.
Prior to the closing date, that subsidiary intends to arrange to assign the
purchase rights to an unrelated for-profit or not-for-profit corporation and to
enter into a management agreement with the assignee to manage the facilities
described after the purchase is consummated by the assignee.
SIGNATURES
Pursuant to the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned thereunto duly
authorized.
IATROS HEALTH NETWORK, INC.
Dated: October ____, 1996. By: /s/
Joseph C. McCarron
Executive Vice President
c:\iatros\johnadam.8k
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