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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): October 2, 1996
GENESIS HEALTH VENTURES, INC.
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(Exact name of Registrant as specified in its charter)
Pennsylvania 1-11666
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(State or other jurisdiction of (Commission File Number)
incorporation or organization)
06-1132947
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(I.R.S. Employer
Identification Number)
148 West State Street
Kennett Square, Pennsylvania 19348
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(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (610) 444-6350
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Item 5. Other Events.
On October 2, 1996, Genesis Health Ventures, Inc. announced
an offering exempt from registration.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Number Title
1. Press Release, dated October 2, 1996.
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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.
GENESIS HEALTH VENTURES, INC.
By: /s/ Ira C. Gubernick
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Ira C. Gubernick
Associate General Counsel &
Secretary
Date: October 2, 1996
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Genesis Health Ventures(SM)
News Release
Contact: George V. Hager, Jr. 148 West State Street
(610) 444-6350 Kennett Square, PA 19348
For Immediate Release Tel 610 444 6350
Fax 610 444 3365
KENNETT SQUARE, Pa.--Oct 1, 1996--Genesis Health Ventures Inc. (NYSE:GHV)
Tuesday announced the issuance and sale of $125 million aggregate principal
amount of 9.25% Senior Subordinated Notes due 2006 in an offering exempt from
registration.
The Notes will be unsecured senior subordinated obligations of Genesis and, as
such, will be subordinated in right of payment to all existing and future senior
indebtedness.
Genesis intends to use the proceeeds from the offering together with borrowings
under its credit facility to repay certain debt assumed as a result of the
acquisition of Geriatric & Medical Companies Inc. (The "GMC Transaction"), to
pay the cash portion of the purchase price of the GMC Transaction and to
repurchase GMC accounts receivable which were previously financed.
The acquisition, which was announced on July 11, 1996, is expected to close in
early October, 1996.
The Notes have not been registered under the Securities Act of 1993.
Accordingly, the Notes may not be offered or sold in the United States or to
U.S. persons absent registration or an applicable exemption from registration
under the Securities Act. Because the Notes have been completely sold, this news
release is made as a matter of record only.
A leader in the healthcare industry, Genesis Health Ventures was founded in 1985
to redefine how America cares for the elderly, utilizing a coordinated,
comprehensive approach that helps older people define and live a full life. The
company has established Genesis ElderCare(SM) Networks in five major
metropolitan markets in the eastern United States and currently serves more than
70,000 customers.
CONTACT:
Genesis Health Ventures Inc., Kennett Square
George V. Hager Jr., 610/444-6350
