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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 15, 2001
INTEGRATED HEALTH SERVICES, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 001-12306 23-2428312
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
910 Ridgebrook Road
Sparks, Maryland 21152
(Address of Principal Executive Offices)
(410) 773-1000
(Registrant's telephone number, including area code)
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Item 5. Other Events
On January 15, 2001, Integrated Health Services, Inc. (OTC Bulletin Board:
IHSVQ) announced that Joseph A. Bondi of the turnaround consulting firm of
Alvarez & Marsal, Inc., had been named as the Chief Executive Officer of the
Company. Mr. Bondi had been serving as the Chief Restructuring Officer of the
Company since July 27, 2000 pending approval by the U.S. Bankruptcy Court for
the District of Delaware of an agreement between Robert N. Elkins and IHS
pursuant to which Dr. Elkins would step aside as CEO of IHS. The financial
effects of the agreement have been disclosed in previous filings.
Mr. Bondi and Alvarez & Marsal, Inc. have extensive experience in the field of
restructuring and reorganization. Mr. Bondi's prior experience includes serving
as Chairman-Restructuring of MobilMedia, Inc., Chief Restructuring Officer of
Iridium LLC and Senior Vice President of Republic Health Corporation.
Item 7. Exhibits
(c) Exhibits
10.1 Agreement between Robert N. Elkins and Integrated Health Services, Inc.