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):
March 13, 1995
HEALTH CARE REIT, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-8923 34-1096634
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
One SeaGate, Suite 1950, P.O. Box 1475, Toledo, Ohio 43603-1475
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code): 419-247-2800
This Instrument contains 5 pages.
Exhibit Index is located on page 4.
ITEM 5. OTHER EVENTS.
The Company extended a loan to Psychiatric Hospitals of America,
Inc. ("PHA") in the original principal amount of $13,700,000 on
June 9, 1988 ("PHA Loan"). PHA has failed to make principal and
interest payments when due in an aggregate amount exceeding
$2,000,000. On March 13, 1995, the Company gave notice to PHA that
all indebtedness under the PHA Loan is immediately due and payable.
Also on March 13, 1995, the Company presented for payment a
$1,125,000 Letter of Credit issued by Bank Hapoalim B.M. and, on
March 14, 1995, the Letter of Credit proceeds were paid to the
Company. On March 14, 1995, the Company filed a complaint in the
Circuit Court of Pinellas County, Florida for money damages and
foreclosure of a mortgage held by the Company against the
behavioral care facility known as Horizon Hospital located in
Clearwater, Florida. On March 15, 1995, the Company filed a
complaint in the Circuit Court of Dade County, Florida for money
damages and foreclosure of a mortgage held by the Company against
the behavioral care facility known as Harbor View Hospital located
in Miami, Florida. On March 21, 1995, the Company filed a
complaint in the Circuit Court of Pinellas County, Florida for
money damages due on a personal guaranty.
On March 24, 1995, PHA and certain of its subsidiaries filed for
protection under Chapter 11 of the Bankruptcy Code. The Company is
vigorously pursuing all of its rememdies.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Business Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
(1) Press Release dated March 24, 1995.
SIGNATURE
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.
HEALTH CARE REIT, INC.
By: GEORGE L. CHAPMAN
--------------------------------
George L. Chapman
Its: Executive Vice President
and General Counsel
Dated: March 24, 1995
EXHIBIT INDEX
Designation
Number Under
Item 601 of
Exhibit No. Regulation S-K Description Page #
- ---------- -------------- ------------------- ------
1 21 Press Release dated 5
March 24, 1995