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) December 3, 1999
DIALYSIS CORPORATION OF AMERICA
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Florida 0-8527 59-1757642
- ---------------------------- ----------- -------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
27 Miller Avenue, Lemoyne, Pennsylvania 17043
---------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (717) 730-6164
--------------
Item 5. Other Events.
DCA of Vineland, LLC, a Delaware limited liability company ("Vineland"),
an 80% owned subsidiary of the Company, is establishing a new modern 15
station outpatient dialysis facility in Vineland, New Jersey. Vineland has
entered into a three-year credit facility with a Maryland bank to borrow up
to $700,000 at an annual interest rate of 8.75% for constructing and
equipping the facility. Vineland will draw down the funds as needed. The
Vineland dialysis facility is approximately two-thirds completed, with the
initial funds for the construction of approximately $365,000 provided by the
Company, which funds are to be repaid from the new bank financing.
In order to facilitate the financing, the Company provided the bank
with a second mortgage and security interest on the property it owns in
Easton, Maryland which consists of land and a 7,400 square foot building,
which it leases to a competitor who purchased the Company's Easton, Maryland
dialysis facility in 1989. The first mortgage is held by an affiliated bank
for the Company's 1988 financing. The outstanding balance on the first
mortgage from the Company is currently approximately $164,000.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Businesses Acquired
Not Applicable
(b) Pro Forma Financial Information
Not Applicable
(c) Exhibits
(99) Additional Exhibits
(i) Indemnity Deed of Trust
(ii) Guaranty Agreement
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.
DIALYSIS CORPORATION OF AMERICA
/s/ Thomas K. Langbein
By-------------------------------------
THOMAS K. LANGBEIN, Chairman
of the Board and Chief Executive
Officer
Dated: December 8, 1999