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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13E-3
RULE 13e-3 TRANSACTION STATEMENT
(PURSUANT TO SECTION 13(e) OF THE SECURITIES EXCHANGE ACT OF 1934)
FINAL AMENDMENT
SHERIDAN HEALTHCARE, INC.
(NAME OF THE ISSUER)
VESTAR/SHERIDAN, INC.
VESTAR/SHERIDAN HOLDINGS, INC.
VESTAR/SHERIDAN INVESTORS, LLC
SHERIDAN HEALTHCARE, INC.
MITCHELL EISENBERG
LEWIS D. GOLD
MICHAEL F. SCHUNDLER
GILBERT L. DROZDOW
JAY A. MARTUS
ROBERT J. COWARD
(NAME OF PERSON(S) FILING STATEMENT)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
CLASS A COMMON STOCK, PAR VALUE $0.01 PER SHARE
(TITLES OF CLASSES OF SECURITIES)
COMMON STOCK 823781109
CLASS A COMMON STOCK 823781208
(CUSIP NUMBER OF CLASSES OF SECURITIES)
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JAMES L. ELROD, JR. MITCHELL EISENBERG, M.D.
VESTAR/SHERIDAN INVESTORS, LLC SHERIDAN HEALTHCARE, INC.
245 PARK AVENUE, 41ST FLOOR 4651 SHERIDAN STREET, SUITE 400
NEW YORK, NY 10167 HOLLYWOOD, FL 33021
(212) 351-1600 (954) 964-2611
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED
TO RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF PERSON(S) FILING STATEMENT)
COPIES TO:
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PETER J. GORDON, ESQ. STEPHEN K. RODDENBERRY, ESQ.
SIMPSON THACHER & BARTLETT AKERMAN, SENTERFITT, EIDSON, P.A.
425 LEXINGTON AVENUE ONE SOUTHEAST THIRD AVENUE
NEW YORK, NEW YORK 10017 28TH FLOOR
(212) 455-2000 MIAMI, FLORIDA 33131
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This statement is filed in connection with (check the appropriate box):
a. [ ] The filing of solicitation materials or an information statement
subject to Regulation 14A, Regulation 14C or Rule 13e-3(c) under
the Securities Exchange Act of 1934.
b. [ ] The filing of a registration statement under the Securities Act of
1933.
c. [X] A tender offer.
d. [ ] None of the above.
Check the following box if the soliciting materials or information
statement referred to in checking box (a) are preliminary copies: [ ]
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This Final Amendment amends and supplements the Rule 13E-3 Transaction
Statement (as amended to date, the "Schedule 13E-3") relating to a tender offer
by Vestar/Sheridan, Inc., a Delaware corporation (formerly known as
Vestar/Calvary, Inc.) (the "Purchaser") and a wholly owned subsidiary of Vestar/
Sheridan Holdings, Inc., a Delaware corporation (formerly known as
Vestar/Calvary Holdings, Inc.) ("Holdings") and a wholly owned subsidiary of
Vestar/Sheridan Investors, LLC, a Delaware limited liability company (formerly
known as Vestar/Calvary Investors, LLC) ("Parent"), to purchase all of the
outstanding shares of Common Stock, par value $0.01 per share (the "Common
Stock"), and Class A Common Stock, par value $0.01 per share (the "Class A
Common Stock" and, together with the Common Stock, the "Shares"), of Sheridan
Healthcare, Inc., a Delaware corporation (the "Company"), at a price of $9.25
per Share net to the seller in cash and without interest thereon, on the terms
and subject to the conditions set forth in the Offer to Purchase dated March 31,
1999, as supplemented (the "Offer to Purchase"), and in the related Letters of
Transmittal (which, together with the Offer to Purchase, as amended from time to
time, constitute the "Offer").
Capitalized terms not defined herein have the meanings assigned thereto in
the Schedule 13E-3.
The following cross reference sheet is being supplied pursuant to General
Instruction F to Schedule 13E-3 and shows the location in the Tender Offer
Statement on Schedule 14D-1, as amended (the "Schedule 14D-1"), filed by the
Purchaser with the Securities and Exchange Commission on the date hereof of the
information required to be included in response to the items of this Statement.
The information in the Schedule 14D-1 is hereby expressly incorporated herein by
reference.
CROSS-REFERENCE SHEET
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<CAPTION>
ITEM IN SCHEDULE 13E-3 WHERE LOCATED IN SCHEDULE 14D-1
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Item 1(a)............................................ Item 1(a)
Item 1(b)............................................ Item 1(b)
Item 1(c)............................................ Item 1(c)
Item 1(d)............................................ *
Item 1(e)............................................ *
Item 1(f)............................................ *
Item 2(a)............................................ Item 2(a)
Item 2(b)............................................ Item 2(b)
Item 2(c)............................................ Item 2(c)
Item 2(d)............................................ Item 2(d)
Item 2(e)............................................ Item 2(e)
Item 2(f)............................................ Item 2(f)
Item 2(g)............................................ Item 2(g)
Item 3(a)............................................ Item 3(a)
Item 3(b)............................................ Item 3(b)
Item 4............................................... *
Item 5............................................... Item 5
Item 6(a)............................................ Item 4(a)
Item 6(b)............................................ *
Item 6(c)............................................ Item 4(b)
Item 6(d)............................................ Item 4(c)
Item 7(a)............................................ Item 5
Item 7(b)............................................ *
Item 7(c)............................................ *
Item 7(d)............................................ *
Item 8............................................... *
Item 9............................................... *
Item 10(a)........................................... Item 6(a)
Item 10(b)........................................... Item 6(b)
Item 11.............................................. Item 7
Item 12(a)........................................... *
Item 12(b)........................................... *
Item 13.............................................. *
Item 14(a)........................................... *
Item 14(b)........................................... *
Item 15(a)........................................... *
Item 15(b)........................................... Item 8
Item 16.............................................. Item 10(f)
Item 17(a)........................................... Item 11(b)
Item 17(b)........................................... *
Item 17(c)........................................... Item 11(c)
Item 17(d)........................................... Item 11(a)
Item 17(e)........................................... *
Item 17(f)........................................... Item 11(f)
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* There is no applicable item contained in Schedule 14D-1.
Item 4. Terms of the Transactions
Item 4 of the Schedule 13E-3 is hereby amended and supplemented as follows:
At 12:00 Midnight, New York City time, on Tuesday, April 27, 1999, the
Offer expired. Based on the information provided by the Depositary, 98.3% of the
Shares (which number includes approximately 1,628,759 Shares subject to guaranty
of delivery) were validly tendered and not properly withdrawn pursuant to the
Offer. The Purchaser has accepted for payment, and has notified the Depositary
to promptly pay for, the tendered and accepted Shares at the purchase price of
$9.25 per share in cash.
Pursuant to the Merger Agreement, the Purchaser intends to merge into the
Company in accordance with the Delaware General Corporation Law (the "DGCL") as
promptly as practicable. As a result of the Merger, the Company will become a
wholly-owned subsidiary of Parent and each outstanding Share (other than Shares
held in the treasury of the Company, Shares owned by Parent, Purchaser or any
other direct or indirect subsidiary of Parent or Purchaser, and Shares, if any,
owned by stockholders who choose to dissent and demand appraisal of their Shares
in accordance with the DGCL) shall be canceled, retired and converted into the
right to receive $9.25 per Share in cash, without interest, less any applicable
withholding taxes.
The consummation of the Offer was publicly announced in a press release
issued by the Parent on April 28, 1999, a copy of which is filed as Exhibit
(d)(11) hereto and incorporated herein by reference.
ITEM 5. PLANS OR PROPOSALS OF THE ISSUER OR AFFILIATE.
Item 5 of the Schedule 13E-3 is hereby amended and supplemented as
follows:
The information in this Final Amendment under Item 4 is incorporated herein
by reference.
ITEM 10. INTEREST IN SECURITIES OF THE ISSUER
Item 10 of the Schedule 13E-3 is hereby amended and supplemented as
follows:
The information in this Final Amendment under Item 4 is incorporated herein
by reference.
ITEM 17. MATERIAL TO BE FILED AS EXHIBITS.
Item 17 of the Schedule 13E-3 is hereby amended and supplemented as
follows:
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(d)(11) Press Release dated April 28, 1999.
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SIGNATURES
After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
VESTAR/SHERIDAN INVESTORS, LLC
By: VESTAR CAPITAL PARTNERS III,
L.P.,
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its Sole Member
By: VESTAR ASSOCIATES III,
L.P.,
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its General Partner
By: VESTAR ASSOCIATES CORPORATION
III
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its General Partner
By: JAMES L. ELROD, JR.
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Name: James L. Elrod, Jr.
Title: Vice President
VESTAR/SHERIDAN HOLDINGS, INC.
By: JAMES L. ELROD, JR.
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Name: James L. Elrod, Jr.
Title: President
VESTAR/SHERIDAN, INC.
By: JAMES L. ELROD, JR.
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Name: James L. Elrod, Jr.
Title: President
SHERIDAN HEALTHCARE, INC.
By: JAY A. MARTUS
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Name: Jay A. Martus
Title: Vice President and General
Counsel
MITCHELL EISENBERG
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Mitchell Eisenberg
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LEWIS D. GOLD
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Lewis D. Gold
MICHAEL F. SCHUNDLER
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Michael F. Schundler
GILBERT L. DROZDOW
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Gilbert L. Drozdow
JAY A. MARTUS
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Jay A. Martus
ROBERT J. COWARD
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Robert J. Coward
April 28, 1999
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EXHIBIT INDEX
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(d)(11) Press Release dated April 28, 1999.
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VESTAR SUCCESSFULLY COMPLETES CASH TENDER OFFER;
ACQUIRES 98.3% OF
SHERIDAN HEALTHCARE, INC.
New York, New York (April 28, 1999) -- Vestar/Sheridan Holdings, Inc. today
announced that it has completed its cash tender offer for all outstanding shares
of common stock, par value $.01 per share, and Class A common stock, par value
$0.01 per share, of Sheridan Healthcare, Inc. (Nasdaq/NM:SHCR). The offer
expired, as scheduled, at 12:00 Midnight, New York City time, on Tuesday,
April 27, 1999.
Vestar/Sheridan Holdings, Inc., through its wholly-owned subsidiary making
the offer, has accepted for payment all shares validly tendered and not properly
withdrawn prior to the expiration of the offer. Based on information provided by
American Stock Transfer & Trust Company, as depositary, 98.3% of the shares of
common stock and all of the shares of Class A common stock have been validly
tendered (including approximately 1,628,759 shares subject to guarantee of
delivery).
Sheridan will be merged with a wholly-owned subsidiary of Vestar/Sheridan
Holdings, Inc. and any Sheridan share not previously purchased in the tender
offer will be converted into the right to receive $9.25 in cash, net to the
seller, without interest. The completion of the merger is expected to occur by
the end of the second fiscal quarter.
Sheridan Healthcare, Inc., based in Hollywood, Fla., is a physician
practice management company which employs or manages specialist physicians
providing services at hospitals and ambulatory surgical facilities in the areas
of anesthesia, neonatology, pediatrics, emergency services, obstetrics and pain
management. In addition, it owns and operates, or manages, office-based
gynecological, obstetrical, infertility, perinatology, primary care and surgical
physician practices. The Company is affiliated with approximately 363 physicians
and 161 allied health professionals, practicing under 55 specialty service
contracts at 37 hospitals and at 28 office locations.
Vestar Capital Partners is a leading investment firm that manages more than
$1 billion in equity capital and specializes in management buyouts and growth
capital investments. Vestar invests, as partners with management teams, in
high-quality, middle market companies. Since its founding in 1988, Vestar has
completed approximately 30 transactions with a total value in excess of $5
billion.
Contact:
Kara Fitzsimmons or Gene Donati
Clark & Weinstock
212-953-2550
Jim Elrod
Vestar Capital Partners
212-351-1609
