UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): January 9, 2004
REHABCARE GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-19294 51-0265872
(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification
incorporation) Number)
7733 Forsyth Boulevard
17th Floor
St. Louis, Missouri 63105
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (314) 863-7422
Item 7. Financial Statements and Exhibits.
(c) Exhibits. See Exhibit Index
Item 9. Regulation FD Disclosure.
RehabCare Group, Inc. announced on January 9, 2004 that it had entered into
an agreement with Signature Health Care Foundation to provide staffing and other
services to the Foundation's full service rehabilitation programs in outpatient
and home health settings.
The press release in its entirety is attached as Exhibit 99.1.
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.
Dated: January 9, 2004
REHABCARE GROUP, INC.
By:/s/Vincent L. Germanese
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Vincent L. Germanese
Senior Vice President, Chief Financial Officer
and Secretary
EXHIBIT INDEX
Exhibit No. Description
99.1 Press release dated January 9, 2004.
Exhibit 99.1
CONTACT: RehabCare Group, Inc.
Vincent L. Germanese, CFO
Betty Cammarata, Director-Investor
Relations
Press: David Totaro, Senior Vice
President, Corporate Marketing & Communications
(314) 863-7422
or
Financial Dynamics:
Gordon McCoun/Lanie Fladell
Press: Sean Leous
(212) 850-5600
FOR IMMEDIATE RELEASE
Friday, January 9, 2004
REHABCARE GROUP, INC. ANNOUNCES AGREEMENT WITH
SIGNATURE HEALTH CARE FOUNDATION
- Relationship Will Advance Health Care in Greater St. Louis Area-
ST. LOUIS, MO, January 9, 2004--RehabCare Group, Inc. (NYSE:RHB) today announced
an agreement with Signature Health Care Foundation to provide staffing and other
services to the Foundation's full service rehabilitation programs in outpatient
and home health settings.
Under the terms of the five-year agreement, RehabCare will assist the
Foundation in its provision of rehabilitation and home health services at the
Foundation's current and future facilities and home health settings. RehabCare
will provide staffing for physical and occupational therapy to a patient
population ranging from pediatrics to geriatrics. RehabCare will support the
development by extending a $2 million line of credit and term loan to the
Foundation secured by certain assets of the Foundation. In addition, RehabCare
will appoint one Director to the Foundation's Board of Directors.
Signature Health Care Foundation, which is a Missouri not-for-profit
corporation, was formed in 2002 through the efforts of Signature Health
Services, Inc., a 41-member physician group practice specializing in
orthopedics. The mission of Signature Foundation is to utilize physician
leadership to improve the quality, efficiency and affordability of healthcare in
the St. Louis area and nationally. One specific purpose of the Foundation is to
provide quality and cost-effective rehabilitative services to residents in the
Greater St. Louis area. Signature Foundation's other purposes include support of
medical research, community dialogue (including health care policy forums,
papers and related education and advocacy), awards programs (including
efficiency awards, insurance quality awards and hospital quality awards),
educational support in the areas of healthcare delivery and management, and
community and public health grants.
John H. Short, Ph.D., Interim President and CEO of RehabCare, commented,
"We are very pleased to be associated with Signature Foundation. This agreement
represents an important step in the execution of our strategy. First, it is a
prime example of the type of relationships we are creating with our clients,
where we are working with them to deliver cost-effective highest quality rehab
services. Second, it also demonstrates our continuum of care model, in which we
support our clients and their patients from the acute care setting to the home.
The RehabCare continuum in the greater St. Louis area will now include the
49-bed inpatient rehab facility at St. Anthony's Medical Center, skilled
rehabilitation programs at more than 25 skilled nursing facilities, and the
outpatient and home health services to be provided by Signature Foundation."
Jan Vest, Vice President of Signature Health Care Foundation, added; "We
believe that in bringing the full continuum of treatment into the domain of
physicians, this structure benefits everyone by improving patient outcomes and
increasing efficiencies while controlling costs. We value RehabCare for its
expertise in treating the kind of patients we serve at Signature Foundation, and
we recognize RehabCare's track record of improving quality of care at a lower
cost."
Tom Davis, President of the Hospital Rehabilitation Services Division of
RehabCare, concluded, "The signing of this agreement gets RehabCare's outpatient
division off to a strong start for the year. We look forward to continuing our
history of assisting in the provision of high quality, efficient and affordable
healthcare."
RehabCare Group, Inc., headquartered in St. Louis, is a leading provider of
program management of hospital rehabilitation services and skilled nursing
units, outpatient therapy programs, contract therapy services and temporary
healthcare staffing services in conjunction with over 7,000 hospitals, nursing
homes and other long-term care facilities throughout the United States.
RehabCare is pleased to be included in the Russell 2000 and Standard and Poor's
Small Cap 600 Indices.
This release contains forward-looking statements that are 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 that may cause RehabCare's actual results in future periods to
differ materially from forecasted results. These risks and uncertainties may
include, but are not limited to, the ability of RehabCare and the Foundation to
implement the planned programs within the expected timeframes and the ability of
RehabCare to otherwise achieve the revenue and earnings levels from the
relationship at or above the levels projected; the timing and financial effect
of the Company's continuing restructuring efforts with respect to the Company's
current businesses; changes in and compliance with governmental reimbursement
rates and other regulations or policies affecting RehabCare's hospital
rehabilitation and contract therapy lines of business; RehabCare's ability to
attract new client relationships or to retain and grow existing client
relationships through expansion of RehabCare's hospital rehabilitation and
contract therapy service offerings and the development of alternative product
offerings that build stronger partnering relationships between RehabCare and its
clients; RehabCare's ability to identify and consummate, within the expected
timeframes, strategic acquisitions to accelerate growth in RehabCare's hospital
rehabilitation and contract therapy divisions; the consummation of the pending
transaction pursuant to which RehabCare's existing staffing business will be
acquired by InteliStaf Holdings, Inc. and the operating performance of
InteliStaf, and the rate of return that RehabCare will be able to achieve from
its equity interest in InteliStaf after the consummation of the transaction; the
adequacy and effectiveness of RehabCare's operating and administrative systems;
RehabCare's ability and the additional costs of attracting administrative,
operational and professional employees; significant increases in health,
workers' compensation and professional and general liability costs; litigation
risks of RehabCare's past and future business, including RehabCare's ability to
predict the ultimate costs and liabilities or the disruption of its operations;
competitive and regulatory effects on pricing and margins; and general economic
conditions, including efforts by governmental reimbursement programs, insurers,
healthcare providers and others to contain healthcare costs.
NOTE: More information on RehabCare can be found on the World Wide Web at
http://www.rehabcare.com.
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