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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 23, 1997
Transworld 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.)
555 Madison Avenue, New York, New York 10022
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 750-0064
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On July 23, 1997 Transworld HealthCare, Inc. (the "Company")
and Kwik Care, Ltd. and VIP Health Services, Inc. (the "VIP
Companies") jointly announced that the agreements to purchase
all of the issued and outstanding capital stock of the VIP
Companies have been terminated and that the pending
acquisition of the VIP Companies will not be completed
principally due to delays in completing the transaction. The
Company anticipates taking a pre-tax non-cash charge of
approximately $1.6 million during the third quarter of fiscal
1997 relating to the termination of the transaction and other
acquisition related expenses.
Certain statements contained herein are forward-looking
statements that have been made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements involve known and unknown
risks and uncertainties which may cause the actual results in
the future periods or plans for future periods to differ
materially from those described herein as anticipated,
believed or estimated.
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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 HealthCare, Inc.
(Registrant)
Date: July 29, 1997 By: /s/ Wayne A. Palladino
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Wayne A. Palladino
Senior Vice President and
Chief Financial Officer
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