UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Amendment No. 2
Genesis Health Ventures, Inc.
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(Name of Issuer)
Common Stock, Par Value $0.02 Per Share
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(Title of Class of Securities)
37183F-10-7
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(CUSIP Number)
Steve Chaiken, Esq.
Goldman, Sachs & Co.
85 Broad Street
New York, New York 10004
(212) 902-1000
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
May 6, 2003
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box |_|.
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See ss. 240.13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
SCHEDULE 13D
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CUSIP NO. 37183F-10-7 PAGE 2 OF 7 PAGES
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Goldman, Sachs & Co.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(SEE INSTRUCTIONS) (b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (SEE INSTRUCTIONS)
00
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5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO [X]
ITEMS 2(d) OR 2(e)
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
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7. SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 5,075,073
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
5,075,073
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,075,073
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12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
(SEE INSTRUCTIONS)
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.2%
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14. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
BD-PN-IA
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SCHEDULE 13D
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CUSIP NO. 37183F-10-7 PAGE 3 OF 7 PAGES
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
The Goldman Sachs Group, Inc.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(SEE INSTRUCTIONS) (b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (SEE INSTRUCTIONS)
AF;00
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5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO [ ]
ITEMS 2(d) OR 2(e)
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
NUMBER OF 27,500
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 5,075,073
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 27,500
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
5,075,073
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,102,573
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12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
(SEE INSTRUCTIONS)
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.3%
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14. TYPE OF REPORTING PERSON
HC-CO
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CUSIP NO. 37183F-10-7 PAGE 4 OF 7 PAGES
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AMENDMENT NO. 2 TO
SCHEDULE 13D
RELATING TO THE COMMON STOCK OF
GENESIS HEALTH VENTURES, INC.
The Goldman Sachs Group, Inc. ("GS Group") and Goldman, Sachs & Co.
("Goldman Sachs" and together with GS Group, the "Filing Persons")/(1) hereby
amend and supplement the statement on Schedule 13D as most recently amended by
Amendment No. 1 thereto filed March 27, 2003 (as amended, the "Schedule 13D"),
with respect to the Common Stock, $0.02 par value per share (the "Common
Stock"), of Genesis Health Ventures, Inc., a Pennsylvania corporation (the
"Company"). Unless otherwise indicated, all capitalized terms used but not
defined herein shall have the same meaning ascribed to them in the Schedule 13D.
This Amendment No. 2 is being filed to report a decrease in the percentage
of the outstanding Common Stock which may be deemed to be beneficially owned by
the Filing Persons, which change was as a result of an agreement between the
Company and Goldman Sachs regarding the sale of Common Stock by Goldman Sachs to
the Company.
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/1/ Neither the present filing nor anything contained herein shall be
construed as an admission that any Filing Person constitutes a "person" for any
purposes other than Section 13(d) of the Securities Exchange Act of 1934 (the
"Exchange Act").
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CUSIP NO. 37183F-10-7 PAGE 5 OF 7 PAGES
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Item 5 is hereby amended as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of May 6, 2003, Goldman Sachs may be deemed to beneficially own an
aggregate of 5,075,073 shares of Common Stock, consisting of (i) 4,721,906
shares of Common Stock beneficially and directly owned by Goldman Sachs and (ii)
353,167 shares of Common Stock underlying 71,799 shares of Convertible Preferred
Stock immediately convertible and beneficially and directly owned by Goldman
Sachs, representing in the aggregate approximately 12.2% of the outstanding
shares of Common Stock reported to be outstanding as of February 7, 2003, as
disclosed in Company's quarterly report on Form 10-Q for the quarter ended
December 31, 2002 (the "10-Q") and in accordance with Rule 13d-3(d)(1).
As of May 6, 2003, GS Group may be deemed to beneficially own an aggregate
of 5,102,573 shares of Common Stock, consisting of (i) 5,075,073 shares of
Common Stock beneficially owned by GS Group through Goldman Sachs as described
above, and (iv) 27,500 shares of Common Stock underlying immediately exercisable
Options, representing in the aggregate approximately 12.3% of the outstanding
shares of Common Stock as disclosed in the 10-Q and in accordance with Rule
13d-3(d)(1). The Options were granted under the Company's 2001 Stock Option Plan
to Joseph A. Lanasa III, a Managing Director of Goldman Sachs, who is a member
of the board of directors of the Company. Mr. Lanasa has an understanding with
GS Group pursuant to which he holds the options for the benefit of GS Group.
(c) On May 6, 2003, the Company and Goldman Sachs reached an oral agreement
pursuant to which the Company agreed to purchase 500,000 shares of Common Stock
from Goldman Sachs at a price of $14.84 per share. The sale is expected to be
consummated on May 9, 2003.
Except as described in this Schedule 13D, no transactions in the shares of
Common Stock were effected by the Filing Persons, or to their knowledge, any of
the persons listed on Schedule I hereto, during the past sixty days.
Item 6 is hereby amended as follows:
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER
On May 6, 2003, the Company and Goldman Sachs reached an oral agreement
pursuant to which the Company agreed to purchase 500,000 shares of Common Stock
from Goldman Sachs at a price of $14.84 per share. The sale is expected to be
consummated on May 9, 2003.
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CUSIP NO. 37183F-10-7 PAGE 6 OF 7 PAGES
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SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Dated: May 8, 2003
THE GOLDMAN SACHS GROUP, INC.
By: /s/ Roger S. Begelman
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Name: Roger S. Begelman
Title: Attorney-in-fact
GOLDMAN, SACHS & CO.
By: /s/ Roger S. Begelman
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Name: Roger S. Begelman
Title: Attorney-in-fact
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CUSIP NO. 37183F-10-7 PAGE 7 OF 7 PAGES
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SCHEDULE I
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The name of each director of The Goldman Sachs Group, Inc. is set forth
below.
The business address of each person listed below is c/o Goldman, Sachs &
Co., 85 Broad Street, New York, NY 10004.
Each person is a citizen of the United States of America except for Lord
Browne of Madingley, who is a citizen of the United Kingdom. The present
principal occupation or employment of each of the listed persons is set forth
below.
Name Present Principal Occupation
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Henry M. Paulson, Jr. Chairman and Chief Executive Officer of
The Goldman Sachs Group, Inc.
John A. Thain President and Co-Chief Operating Officer of
The Goldman Sachs Group, Inc.
Lloyd C. Blankfein Vice Chairman of The Goldman Sachs Group,
Inc.
Lord Browne of Madingley Group Chief Executive of BP plc
John H. Bryan Retired Chairman and Chief Executive Officer
of Sara Lee Corporation
William W. George Retired Chairman and Chief Executive Officer
of Medtronic, Inc.
James A. Johnson Vice Chairman of Perseus, L.L.C.
Ruth J. Simmons President of Brown University