SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) November 2, 2001
UCI Medical Affiliates, Inc.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware 0-13265 59-2225346
(State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification)
4416 Forest Drive, Columbia, South Carolina 29206
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(Address, Including Zip Code of Principal Executive Offices)
(803) 782-4278
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(Registrant's Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Item 3. Bankruptcy or Receivership
On November 2, 2001 UCI Medical Affiliates, Inc., a Delaware corporation (the
"Company"), its wholly-owned subsidiaries, UCI Medical Affiliates of South
Carolina, Inc. and UCI Medical Affiliates of Georgia, Inc., each a South
Carolina corporation (collectively the "Subsidiaries"), and its affiliates,
Doctor's Care, P.A., a South Carolina corporation, Doctor's Care of Tennessee,
P.C., a Tennessee corporation, and Doctor's Care of Georgia, P.C., a Georgia
corporation (collectively, the "Affiliates"), filed voluntary petitions for
protection under Chapter 11 of the Bankruptcy Code in the United States
Bankruptcy Court for the District of South Carolina. The Bankruptcy Court
assumed jurisdiction over the Company, the Subsidiaries, and the Affiliates on
November 2, 2001, and the existing officers and directors have been left in
possession of the respective bankruptcy estates subject to the supervision and
orders of the Bankruptcy Court.
A copy of the Press Release discussing these matters is attached hereto as
Exhibit 99.1 and incorporated by reference herein (page 3 of 3).
Item 7. Financial Statements and Exhibits.
(a) - (b) Not applicable.
(c) Exhibits.
Exhibit 99.1 - Press Release of Company dated November 2, 2001.
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.
UCI MEDICAL AFFILIATES, INC.
Date: November 9, 2001 By: /s/ Jerry F. Wells, Jr., CPA
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Jerry F. Wells, Jr., CPA
Executive Vice President of Finance and
Chief Financial Officer
Exhibit 99.1
News Release
UCI Medical Affiliates, Inc. Files for Chapter 11 Reorganization
Columbia, SC, November 2, 2001. UCI Medical Affiliates, Inc., and its
wholly-owned subsidiaries, UCI Medical Affiliates of South Carolina, Inc. and
UCI Medical Affiliates of Georgia, Inc., and its affiliates, Doctor's Care,
P.A., Doctor's Care of Tennessee, P.C., and Doctor's Care of Georgia, P.C. filed
for protection today under Chapter 11 of the U.S. Bankruptcy Code. The company,
its subsidiaries, and its affiliates made the filings in the U.S. Bankruptcy
Court for the District of South Carolina in Columbia, South Carolina.
The company cited its heavily burdened debt structure and lack of liquidity, as
well as the overall slowdown in the U.S. economy, as factors contributing to the
filing. The company added that the reorganization under Chapter 11 should enable
the company to immediately address its liquidity and debt restructuring
problems. M.F. McFarland, M.D., the company's president and chief executive
officer, stated, "The Chapter 11 filing is the first step in our efforts to
address the challenges facing the company in today's market. We are confident
that our reorganization under the court's supervision will enable us to emerge
from Chapter 11 with stronger prospects for the future." Dr. McFarland further
stated that the Chapter 11 filing should have little impact on its employees or
on the patients who visit the medical centers managed by the company.
Headquartered in Columbia, South Carolina, UCI Medical Affiliates, Inc. provides
nonmedical management and administrative services to medical centers located in
South Carolina and Tennessee. These medical centers operate under the name
"Doctor's Care."
FORWARD LOOKING STATEMENTS
Information set forth in this News Release may contain statements and
information, which describe or reflect the company's beliefs concerning future
business conditions and the outlook for the company. These forward-looking
statements are subject to risks, uncertainties and other facts that could cause
the company's actual results, performance or achievement to differ materially
from those expressed in, or implied by, these statements. These risks,
uncertainties and other factors include, but are not limited to, the following:
the company's ability to negotiate and implement a reorganization plan, to
address its financing requirements in light of its existing debt obligations and
market conditions, to obtain bankruptcy court approvals as requested, and to
compete effectively with other healthcare providers; the reimbursement policies
for insurance companies and other third-party payors of medical services; and
the uncertain and unstable legal environment for healthcare providers. Please
refer to the company's documents on file with the Securities and Exchange
Commission for other risks and uncertainties.