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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 18, 1996
Transworld Home HealthCare, Inc.
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(Exact name of Registrant as specified in its charter)
New York
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(State or other jurisdiction of incorporation)
1-11570 13-3098275
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(Commission File Number) (I.R.S. Employer Identification No.)
11 Skyline Drive, Hawthorne, New York 10532
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (914) 345-8880
Not Applicable
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS.
The New York State Department of Health ("DOH") has granted approval
to Hyperion Partners II L.P. ("HPII") to consummate the second closing under
the Unit Purchase Agreement between HPII and Transworld Home HealthCare, Inc.
(the "Company"). Following the second closing, HPII will have made an aggregate
equity investment in the Company of $39.6 million. The second closing is
anticipated to occur following satisfaction of remaining closing conditions and
completion of a new senior secured revolving credit facility, for which the
Company recently received a commitment.
Additionally, the consummation of the previously announced acquisition of VIP
Health Services, Inc. and Kwik Care, Ltd. (the "VIP Companies") will not occur
concurrently with the second closing under the Unit Purchase Agreement in that,
among other things, the approvals and consents necessary to consummate the
transactions have not been and cannot be obtained at this time. The Company
cannot predict when all of the requisite consents and approvals
will be obtained.
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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.
Transworld Home HealthCare, Inc.
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(Registrant)
Date: July 25, 1996 By: /S/ Wayne A. Palladino
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Wayne A. Palladino
Senior Vice President and
Chief Financial Officer
