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UNITED STATES
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): June 3, 2024

HEALTHCARE SERVICES GROUP, INC.
(Exact name of registrant as specified in its charter)

Commission File Number: 0-12015
Pennsylvania23-2018365
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification number)

3220 Tillman Drive, Suite 300, Bensalem, Pennsylvania
(Address of principal executive office)

19020
(Zip Code)

Registrant's telephone number, including area code: (215) 639-4274
    
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

( ☐ )    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
( ☐ )    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
( ☐ )    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
( ☐ )    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.01 par valueHCSGNASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 7.01Regulation FD Disclosure.

On June 3, 2024, Healthcare Services Group, Inc. (“HCSG” or the “Company”) issued a press release providing an update on the restructuring of one of its customers, La Vie Care Centers. A copy of the Company’s press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference. The information set forth herein and in Exhibit 99.1 is furnished pursuant to Item 7.01 Regulation FD Disclosure and shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section nor shall the information be deemed incorporated by reference in any filing of the Company.


Item 9.01Financial Statements and Exhibits.

( d )    Exhibits. The following exhibits are being furnished herewith:

Exhibit No.Description
99.1
104Cover page Interactive Data File (embedded within the Inline XBRL document)


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.

HEALTHCARE SERVICES GROUP, INC.
Date: June 3, 2024By:/s/ Jason J. Bundick
Name: Jason J. Bundick
Title: General Counsel, Chief Compliance Officer & Secretary


imagea.jpg
HCSG Provides Update On Client Restructuring;
Reiterates 2024 Cash Flow Forecast & ROY Outlook

BENSALEM, PA --(BUSINESS WIRE)-- Healthcare Services Group, Inc. (NASDAQ:HCSG) today issued the following statement in response to LaVie Care Centers’ announcement that it had filed for Chapter 11 bankruptcy protection in the Northern District of Georgia. As a result of LaVie’s filing, the Company estimates a Q2 non-cash charge of approximately $0.20 per share. The Company expects to continue providing services to La Vie and expects no impact on future revenue or earnings. Additionally, the Company anticipates no disruption in postpetition payments and reiterates its previously shared Q2 and 2024 adjusted cash flow expectations of $5.0 million to $15.0 million and $40.0 million to $55.0 million, respectively.

Ted Wahl, Chief Executive Officer, stated, “The recent restructuring activity we’ve seen, including LaVie’s, is the result of conditions and events that occurred over the course of the past few years, as opposed to a reflection of the sector’s ‘current state.’ And while this restructuring will impact the second quarter's reported results, longer term, it only further strengthens the financial health of our customer base. Overall industry fundamentals continue to trend positively, with workforce availability continuing to improve, occupancy at 79%, just under pre-pandemic levels, and CMS's recently proposed 4.1% increase in Medicare rates for fiscal year 2025. Looking ahead, we are focused on executing on our strategic priorities to drive growth, manage costs, and collect what we bill, and remain confident in our ability to deliver long-term value to our shareholders.”

The Company will be participating in The UBS Healthcare Services Cape Cod Summit on June 5, 2024 at Chatham Bars Inn in Chatham, MA and Baird’s 2024 Global Consumer, Technology & Services Conference on June 6, 2024 at the InterContinental Barclay NY. Additionally, the Company will host a conference call on July 24, 2024 to discuss its results for the three months ended June 30, 2024.

Company Contacts:
Theodore WahlMatthew J. McKee
President and Chief Executive OfficerChief Communications Officer
215-639-4274
investor-relations@hcsgcorp.com

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Cover
Jun. 03, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jun. 03, 2024
Entity Registrant Name HEALTHCARE SERVICES GROUP, INC.
Entity File Number 0-12015
Entity Address, Address Line One 3220 Tillman Drive
Entity Address, Address Line Two Suite 300
Entity Address, City or Town Bensalem
Entity Address, State or Province PA
Entity Address, Postal Zip Code 19020
City Area Code 215
Local Phone Number 639-4274
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0000731012
Entity Incorporation, State or Country Code PA
Entity Tax Identification Number 23-2018365
Title of 12(b) Security Common Stock, $0.01 par value
Trading Symbol HCSG
Security Exchange Name NASDAQ
Amendment Flag false
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