- 16 -
plans to keep key management in place; and the ability to deal
with changes in the reimbursement system within the near future.
Four days later, the documents were executed that constitute the
contract under which all of the transferors’ assets were
transferred to the transferees.
Other than State and Federal filing requirements and the
slight changes in the names of the entities, the Sta-Home
operations remained the same after the transfer as they were
before. The Sta-Home for-profit entities continued to use a
fiscal year ending on September 30 for financial accounting and
Medicare reporting purposes, although not for tax purposes. As
part of the transfers, the Sta-Home for-profit entities accepted
assignment of the Sta-Home tax-exempt entities’ Medicare provider
agreements and continued to use the provider numbers of the Sta-
Home tax-exempt entities. The Sta-Home for-profit entities
continued to receive PIP payments and lump-sum settlements from
the Medicare program, including quarterly payments based on
quarterly PIP reports. The Sta-Home for-profit entities received
a net preacquisition payment relating to settlement of the Sta-
Home tax-exempt entities’ 1987 fiscal year. Substantially, the
same employees continued to do the same work, and the same assets
were used in the same three locations. The Caracci family
members continued to be employed by the Sta-Home for-profit
Page: Previous 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 NextLast modified: May 25, 2011