sctovt
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE TO
TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
VISTACARE, INC.
(Name of Subject Company (Issuer))
OHC INVESTMENT, INC.
a wholly-owned subsidiary of
ODYSSEY HEALTHCARE HOLDING COMPANY
a wholly-owned subsidiary of
ODYSSEY HEALTHCARE, INC.
(Name of Filing Person (Offeror))
Class A Common Stock, par value $0.01 per share
(Title of Class of Securities)
92839Y109
(CUSIP Number of Class of Securities)
W. Bradley Bickham
Odyssey HealthCare, Inc.
717 North Harwood, Suite 1500
Dallas, Texas 75201
(214) 922-9711
(Name, Address and Telephone Numbers of Person
Authorized to Receive Notices and Communications on Behalf of Filing Persons)
Copy to:
P. Gregory Hidalgo
Vinson & Elkins L.L.P.
3700 Trammell Crow Center
2001 Ross Avenue
Dallas, Texas 75201-2975
(214) 220-7700
CALCULATION OF FILING FEE
|
|
|
|
|
|
|
Transaction Valuation*
|
|
|
Amount of Filing Fee* |
|
|
$158,243,019
|
|
|
$6,218.95 |
|
|
* |
|
The amount of the filing fee, in accordance with Rule 0-11 of the Securities Exchange Act of 1934,
is calculated by multiplying the transaction valuation by $.0000393. For purposes of calculating
the filing fee only, the transaction valuation was determined by multiplying the purchase price of
$8.60 per share by the sum of (i) the 16,885,958 shares of class A common stock, par value $0.01
per share, of VistaCare, Inc. (the Shares), issued and outstanding as of January 14, 2008; and
(ii) the 1,514,393 Shares that are issuable on or prior to the expiration of this offer under
outstanding stock options. |
o Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) of the
Exchange Act and identify the filing with which the offsetting fee was previously paid. Identify
the previous filing by registration statement number, or the Form or Schedule and the date of its
filing.
|
|
|
|
|
|
|
Amount Previously Paid:
|
|
None
|
|
Filing Party:
|
|
Not Applicable |
Form or Registration No.:
|
|
Not Applicable
|
|
Date Filed:
|
|
Not Applicable |
o Check the box if the filing relates solely to preliminary communications made before
the commencement of a tender offer:
Check the appropriate boxes below to designate any transactions to which the statement relates.
þ Third-party tender offer subject to Rule 14d-1.
o Issuer tender offer subject to Rule 13e-4.
o Going-private transaction subject to Rule 13e-3.
o Amendment to Schedule 13D under Rule 13d-2.
Check the following box if the filing is a final amendment reporting the results of the tender
offer: o
TABLE OF CONTENTS
SCHEDULE TO
This Tender Offer Statement on Schedule TO (this Schedule TO) relates to the offer by OHC
Investment, Inc. (Purchaser), a Delaware corporation and wholly owned subsidiary of Odyssey
HealthCare Holding Company, a Delaware corporation (Parent), which is a wholly-owned subsidiary
of Odyssey HealthCare, Inc., a Delaware corporation (Odyssey), to purchase all outstanding shares
of class A common stock, par value $0.01 per share (including the associated Series A Junior
Participating Preferred Stock purchase rights issued pursuant to the Rights Agreement, dated as of
August 18, 2004, as amended as of the date hereof, between VistaCare, Inc., a Delaware corporation
(VistaCare), and Computershare Trust Company, N.A., formerly known as Equiserve Trust Company,
N.A., the Shares), of VistaCare, at a price of $8.60 per Share, net to the seller in cash
(subject to applicable withholding taxes), without interest thereon, upon the terms and subject to
the conditions set forth in the Offer to Purchase dated January 30, 2008 (the Offer to Purchase)
and in the related Letter of Transmittal (which, together with any supplements or amendments,
collectively constitute the Offer), copies of which are attached as Exhibits (a)(1)(A) and
(a)(1)(B) hereto, respectively. The information set forth in the Offer to Purchase and the related
Letter of Transmittal is incorporated herein by reference with respect to the Introduction, Items
1-9 and Item 11 of this Schedule TO.
ITEM 1. SUMMARY TERM SHEET.
The information set forth in the Summary Term Sheet in the Offer to Purchase is incorporated
herein by reference.
ITEM 2. SUBJECT COMPANY INFORMATION.
(a) The name of the subject company is VistaCare, Inc. VistaCares principal executive office
is located at 4800 North Scottsdale Road, Suite 5000, Scottsdale, Arizona 85251. VistaCares
telephone number is (480) 648-4545.
(b) This Tender Offer Statement on Schedule TO relates to Purchasers offer to purchase all
outstanding Shares. According to VistaCare, as of January 14, 2008, there were 16,885,958 Shares
issued and outstanding and there were outstanding options to purchase an aggregate of 1,514,393
Shares.
(c) The information set forth in Section 6Price Range of the Shares in the Offer to
Purchase is incorporated herein by reference.
ITEM 3. IDENTITY AND BACKGROUND OF FILING PERSON.
The information set forth in Section 9Certain Information Concerning Purchaser and its
Affiliates and Schedule I to the Offer to Purchase is incorporated herein by reference.
ITEM 4. TERMS OF THE TRANSACTION.
The information set forth in the Offer to Purchase is incorporated herein by reference.
ITEM 5. PAST CONTACTS, TRANSACTIONS, NEGOTIATIONS AND AGREEMENTS.
The information set forth in Section 8 Certain Information Concerning VistaCare, Section 9
Certain Information Concerning Purchaser and its Affiliates, Section 10 Background of the
Offer; Contacts with VistaCare and Section 11 Purpose of the Offer; Plans for VistaCare in the
Offer to Purchase is incorporated herein by reference.
ITEM 6. PURPOSES OF THE TRANSACTION AND PLANS OR PROPOSALS.
The information set forth in Section 6Price Range of the Shares, Section 7Effect of the
Offer on the Market for the Shares; NASDAQ Listing; Margin Regulations; Exchange Act Registration,
Section 11Purpose of the Offer; Plans for VistaCare, Section 13Dividends and Distributions
and Section 14Certain Conditions to the Offer in the Offer to Purchase is incorporated herein by
reference.
ITEM 7. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The information set forth in Section 12Source and Amount of Funds in the Offer to Purchase
is incorporated herein by reference.
ITEM 8. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
The information set forth in the Introduction and Section 8Certain Information Concerning
VistaCare, Section 9Certain Information Concerning Purchaser and its Affiliates, Section
10Background of the Offer; Contacts with VistaCare and Section 11Purpose of the Offer; Plans
for VistaCare in the Offer to Purchase is incorporated herein by reference.
ITEM 9. PERSONS/ASSETS, RETAINED, EMPLOYED, COMPENSATED OR USED.
The information set forth in Section 10Background of the Offer; Contacts with VistaCare,
Section 11Purpose of the Offer; Plans for VistaCare and Section 16Certain Fees and Expenses
in the Offer to Purchase is incorporated herein by reference.
ITEM 10. FINANCIAL STATEMENTS.
Not applicable.
ITEM 11. ADDITIONAL INFORMATION.
The information set forth in Section 7Effect of the Offer on the Market for the Shares;
NASDAQ Listing; Margin Regulations; Exchange Act Registration, Section 11Purpose of the Offer;
Plans for VistaCare, Section 12Source and Amount of Funds and Section 15 Certain Legal
Matters; Required Regulatory Approvals in the Offer to Purchase is incorporated herein by
reference.
ITEM 12. MATERIAL TO BE FILED AS EXHIBITS.
|
|
|
(a)(1)(A)
|
|
Offer to Purchase, dated January 30, 2008. |
|
|
|
(a)(1)(B)
|
|
Letter of Transmittal. |
|
|
|
(a)(1)(C)
|
|
Notice of Guaranteed Delivery. |
|
|
|
(a)(1)(D)
|
|
Letter to Brokers, Dealers, Commercial Banks, Trust Companies and other Nominees. |
|
|
|
(a)(1)(E)
|
|
Form of Letter to Clients for Use by Brokers, Dealers, Commercial Banks, Trust
Companies and Nominees. |
|
|
|
(a)(1)(F)
|
|
Letter to Employee Stock Purchase Plan Participants. |
|
|
|
(a)(1)(G)
|
|
Letter to Restricted Stock Holders. |
|
|
|
(a)(1)(H)
|
|
Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9. |
|
|
|
(a)(1)(I)
|
|
Press release issued by Parent and Purchaser on January 15, 2008 (incorporated by
reference to Exhibit 99.1 to the Form 8-K filed by Odyssey on January 15, 2008). |
|
|
|
(a)(1)(J)
|
|
Press release issued by VistaCare on January 15, 2008 (incorporated by reference to
Exhibit 99.1 to the Form 8-K filed by VistaCare on January 15, 2008). |
|
|
|
(a)(1)(K)
|
|
Form of summary advertisement, published January 30, 2008. |
|
|
|
(d)(1)(A)
|
|
Agreement and Plan of Merger, dated as of January 15, 2008, by and among Parent,
Purchaser and VistaCare (incorporated by reference to Exhibit 2.1 to the Form 8-K
filed by Odyssey on January 15, 2008). |
|
|
|
(d)(1)(B)
|
|
Form of Stockholder Agreement, dated as of January 15, 2008, between Parent,
Purchaser and each of Richard R. Slager, John Crisci, Stephen Lewis, Roseanne Berry,
Henry Hirvela, James T. Robinson, James C. Crews, Jon M. Donnell, Perry G. Fine,
M.D., Jack A. Henry, Geneva B. Johnson, Pete A. Klisares and Brian S. Tyler
(incorporated by reference to Exhibit 2.2 to the Form 8-K filed by Odyssey on January
15, 2008). |
|
|
|
(d)(1)(C)
|
|
Commitment Letter, dated as of January 15, 2008, from General Electric Capital
Corporation to Odyssey (incorporated by reference to Exhibit 99.3 to the Schedule 13D
filed by Odyssey on January 23, 2008). |
|
|
|
(d)(1)(D)
|
|
Confidentiality Agreement, dated as of July 25, 2007, between VistaCare and Odyssey. |
|
|
|
(g)
|
|
Not applicable. |
|
|
|
(h)
|
|
Not applicable. |
SIGNATURE
After due inquiry and to the best of their knowledge and belief, the undersigned hereby
certify as of January 30, 2008 that the information set forth in this statement is true, complete
and correct.
|
|
|
|
|
|
OHC INVESTMENT, INC.
|
|
|
By: |
|
/s/ R. Dirk Allison |
|
|
|
R. Dirk Allison |
|
|
|
|
Senior Vice President and Chief Financial
Officer |
|
|
|
|
|
|
|
|
ODYSSEY HEALTHCARE HOLDING COMPANY
|
|
|
By: |
|
/s/ R. Dirk Allison |
|
|
|
R. Dirk Allison |
|
|
|
|
Senior Vice President and Chief Financial
Officer |
|
|
|
|
|
|
|
|
ODYSSEY HEALTHCARE, INC.
|
|
|
By: |
|
/s/ R. Dirk Allison |
|
|
|
R. Dirk Allison |
|
|
|
|
Senior Vice President and Chief Financial
Officer |
|
|
|
|
|
EXHIBIT |
|
|
NO. |
|
DESCRIPTION |
|
(a)(1)(A)
|
|
Offer to Purchase, dated January 30, 2008. |
|
|
|
(a)(1)(B)
|
|
Letter of Transmittal. |
|
|
|
(a)(1)(C)
|
|
Notice of Guaranteed Delivery. |
|
|
|
(a)(1)(D)
|
|
Letter to Brokers, Dealers, Commercial Banks, Trust Companies and other Nominees. |
|
|
|
(a)(1)(E)
|
|
Form of Letter to Clients for Use by Brokers, Dealers, Commercial Banks, Trust
Companies and Nominees. |
|
|
|
(a)(1)(F)
|
|
Letter to Employee Stock Purchase Plan Participants. |
|
|
|
(a)(1)(G)
|
|
Letter to Restricted Stock Holders. |
|
|
|
(a)(1)(H)
|
|
Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9. |
|
|
|
(a)(1)(I)
|
|
Press release issued by Parent and Purchaser on January 15, 2008 (incorporated by
reference to Exhibit 99.1 to the Form 8-K filed by Odyssey on January 15, 2008). |
|
|
|
(a)(1)(J)
|
|
Press release issued by VistaCare on January 15, 2008 (incorporated by reference to
Exhibit 99.1 to the Form 8-K filed by VistaCare on January 15, 2008). |
|
|
|
(a)(1)(K)
|
|
Form of summary advertisement, published January 30, 2008. |
|
|
|
(d)(1)(A)
|
|
Agreement and Plan of Merger, dated as of January 15, 2008, by and among Parent,
Purchaser and VistaCare (incorporated by reference to Exhibit 2.1 to the Form 8-K
filed by Odyssey on January 15, 2008). |
|
|
|
(d)(1)(B)
|
|
Form of Stockholder Agreement, dated as of January 15, 2008, between Parent,
Purchaser and each of Richard R. Slager, John Crisci, Stephen Lewis, Roseanne Berry,
Henry Hirvela, James T. Robinson, James C. Crews, Jon M. Donnell, Perry G. Fine,
M.D., Jack A. Henry, Geneva B. Johnson, Pete A. Klisares and Brian S. Tyler
(incorporated by reference to Exhibit 2.2 to the Form 8-K filed by Odyssey on January
15, 2008). |
|
|
|
(d)(1)(C)
|
|
Commitment Letter, dated as of January 15, 2008, from General Electric Capital
Corporation to Odyssey (incorporated by reference to Exhibit 99.3 to the Schedule 13D
filed by Odyssey on January 23, 2008). |
|
|
|
(d)(1)(D)
|
|
Confidentiality Agreement, dated as of July 25, 2007, between VistaCare and Odyssey. |
|
|
|
(g)
|
|
Not applicable. |
|
|
|
(h)
|
|
Not applicable. |