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UNITED STATES
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): June 30, 1996
ARBOR HEALTH CARE COMPANY
(Exact name of registrant as specified in its charter)
DELAWARE 0-22178 34-1469604
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1100 SHAWNEE ROAD, P. O. BOX 840, LIMA, OHIO 45802-0840
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 419-227-3000
This document contains 6 pages.
The Exhibit Index appears on Page 5.
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ITEM 5. OTHER EVENTS
The Registrant on July 1, 1996 closed the acquisitions of Poly-Stat
Supply Corporation and Poly-Stat Computer Applications, Inc. effective June
30, 1996. Combined 1995 sales of the two companies were approximately $2.4
million.
The purchase price of approximately $1.2 million for the Poly-Stat
businesses was paid with cash of $1.0 million and promissory notes of
approximately $.2 million. In addition, a $1.0 million contingent payment
will be made if certain earnings targets are attained over the next five years.
The acquisitions will be treated as purchases for accounting and financial
reporting purposes.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Businesses Acquired.
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None required.
(b) Pro Forma Financial Information.
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None required.
(c) Exhibits
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1. Press Release, dated July 2, 1996, of Arbor Health Care
Company.
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this Report to be signed on its behalf
by the undersigned thereunto duly authorized.
ARBOR HEALTH CARE COMPANY
By: /s/ DENNIS R. SMITH
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Dennis R. Smith, Senior Vice President -
Finance and Chief Financial Officer
Dated: July 3, 1996
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EXHIBIT INDEX
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1 Press Release, dated July 2, 1996, of
Arbor Health Care Company. 6
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Exhibit 1
FOR FURTHER INFORMATION CONTACT:
Pier C. Borra
Chairman, President and
Chief Executive Officer
(419) 227-3000
Chip Swearngan
Edelman Financial
FOR IMMEDIATE RELEASE (212) 704-8111
ARBOR HEALTH CARE COMPANY ACQUIRES
OHIO-BASED MEDICAL SUPPLY BUSINESS
LIMA, OHIO, JULY 2, 1996 -- ARBOR HEALTH CARE COMPANY (NASDAQ:AHCC) today
announced that it has acquired Columbus, Ohio-based Poly-Stat Supply
Corporation and Poly-Stat Computer Applications, Inc., which provide medical
supplies and Medicare Part B billing services, respectively. Combined 1995
revenues for the two companies were approximately $2.4 million.
The purchase price of approximately $1.2 million will be paid in cash and
notes. In addition, a $1.0 million contingent payment will be made if certain
earnings targets are attained over the next five years.
The Poly-Stat business provides a wide range of enteral feeding, urological,
ostomy, tracheostomy, surgical dressing and oxygen supplies to approximately
100 nursing homes in Ohio and Medicare Part B billing services to nursing
homes.
Pier C. Borra, Chairman, President and Chief Executive Officer of Arbor Health
Care, said, "We are very pleased with this acquisition because it expands the
current services now provided by our pharmacy division. In addition, we will
have the opportunity of providing institutional pharmacy services to customers
of Poly-Stat. We look forward to working with Robert Q. Baker, the current
President of both companies, to grow our combined Medicare Part B medical
supply business," Borra concluded.
Arbor Health Care Company provides subacute medical services, including medical
rehabilitation, ventilator weaning and respiratory therapy, and complex medical
services such as cardiac recovery, infusion therapy and wound care, as well as
basic care services to a variety of patients. The Company operates 28 licensed
nursing centers in five states with a total of 3,342 beds and three
institutional pharmacies in Ohio and Florida.
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