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      Disposition of Facet Technologies
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                      <div>&#160;</div>
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                        D. C. 20549 </strong></font></div>
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                        8-K</strong></font></div>
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
                        REPORT PURSUANT</strong></font></div>
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                        SECTION 13 OR 15(D) OF THE</strong></font></div>
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                        EXCHANGE ACT OF 1934</strong></font></div>
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                        1, 2006</strong></font></div>
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                        of
                        Report </font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Date
                        of
                        earliest event reported)</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><strong>Matria
                        Healthcare, Inc.</strong></font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
                        Name of Registrant as Specified in Its Charter)</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Delaware</strong></font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                        or
                        Other Jurisdiction of Incorporation)</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><u><font size="2">0-20619</font></u></strong></div>
                              </td>
                              <td width="25%">
                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><u><font size="2">20-2091331</font></u></strong></div>
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                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(Commission
                                  File Number)</font></div>
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                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(IRS
                                  Employer Identification
                                  No.)</font></div>
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><u><font size="2">1850
                                  Parkway Place, Marietta,
                                  GA</font></u></strong></div>
                              </td>
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                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><u><font size="2">30067</font></u></strong></div>
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                                  of Principal Executive
                                  Offices)</font></div>
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                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(Zip
                                  Code)</font></div>
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                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><u><font size="2">770-767-4500</font></u></strong></div>
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                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(Registrant's
                                  Telephone Number, Including
                                  Area Code)</font></div>
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                      <div align="center">&#160;</div>
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                                  Applicable</u></strong></font></div>
                              </td>
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                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(Former
                                  Name or Former Address, if Changed
                                  Since Last Report)</font></div>
                              </td>
                            </tr>

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                      </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
                      <div>&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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:</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings 2"><strong>*</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                        communications pursuant to Rule 425 under the Securities
                        Act (17 CFR
                        230.425)</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings 2"><strong>*</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                        material pursuant to Rule 14a-12 under the Exchange Act (17
                        CFR
                        240.14a-12)</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings 2"><strong>*</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                        communications pursuant to Rule 14d-2(b) under the Exchange
                        Act (17&#160;CFR
                        240.14d-2(b))</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings 2"><strong>*</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                        communications pursuant to Rule 13e-4(c) under the Exchange
                        Act (17 CFR
                        240.13e-4(c))</font></div><br>
                      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                        <div id="FTR">
                          <div id="GLFTR" style="WIDTH: 100%" align="left">
                          </div>
                        </div>
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                          <div style="WIDTH: 100%; TEXT-ALIGN: center">
                          </div>
                          <div style="WIDTH: 100%; TEXT-ALIGN: center">
                            <hr style="COLOR: black" noshade size="2">
                          </div>
                        </div>
                        <div id="HDR">
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                          </div>
                        </div>
                      </div><br>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                        2.01.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Completion
                        of Acquisition or Disposition of Assets</strong></font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
                        September 1, 2006, the registrant, Matria Healthcare, Inc.
                        (&#8220;Matria&#8221;) completed
                        its previously reported disposition of Facet Technologies,
                        LLC (&#8220;Facet&#8221;), a
                        wholly owned subsidiary of Matria, pursuant to the Membership
                        Interest Purchase
                        Agreement dated July 26, 2006, by and among Matria, Facet
                        and Facet Acquisition
                        LLC (the &#8220;Purchaser&#8221;), an affiliate of Water Street Capital Partners, L.P., a
                        Chicago-based private equity firm specializing in healthcare
                        investments (the
&#8220;Disposition&#8221;). Pursuant to the terms of the Purchase Agreement, Purchaser
                        paid
                        Matria approximately $122 million in cash as consideration
                        for the Disposition,
                        subject to certain adjustments set forth in the Purchase
                        Agreement.</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attached
                        to this Report as Exhibit 99.1 is an unaudited pro forma
                        condensed balance sheet
                        that is based on the historical financial statements after
                        giving effect to the
                        gain on the Disposition and the repayment of debt with estimated
                        net proceeds.
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                        pro
                        forma condensed consolidated statements of operations are
                        not required for this
                        Form 8-K as the effect of the Disposition&#160;has been fully reflected in net
                        income from continuing operations included in the Company&#8217;s historical
                        consolidated statements of operations.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                        The
                        unaudited pro forma condensed balance sheet includes specific
                        assumptions and
                        adjustments related to the Disposition. The adjustments are
                        based upon presently
                        available information and assumptions that management believes
                        are reasonable
                        under the circumstances as of the date of this filing. However,
                        actual
                        adjustments may differ materially from the information presented.
                        The unaudited
                        pro forma condensed balance sheet, including the notes thereto,
                        should be read
                        in conjunction with the historical consolidated financial
                        statements and
                        accompanying notes included in Matria&#8217;s Annual Report on Form 10-K for the year
                        ended December 31, 2005, and in the Quarterly Report on Form
                        10-Q for the
                        quarterly period ended June 30, 2006.</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                        unaudited pro forma condensed consolidated financial information
                        is presented
                        for informational purposes only. </font><br></div><br>
                      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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                          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">2</font></div>
                          <div style="WIDTH: 100%; TEXT-ALIGN: center">
                            <hr style="COLOR: black" noshade size="2">
                          </div>
                        </div>
                        <div id="HDR">
                          <div id="GLHDR" style="WIDTH: 100%" align="right">
                          </div>
                        </div>
                      </div><br>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                        9.01.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 63pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Financial
                        Statements and Exhibits.</strong></font></div>
                      <div>&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(b)</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pro
                        forma financial information.</strong></font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
                      <div>
                        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                            <tr valign="top" style="line-height: 1.25;">
                              <td style="width: 36pt;">&#160;</td>
                              <td style="width: 36pt;">&#160;</td>
                              <td>
                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                                  pro forma financial information with respect to
                                  the transaction described
                                  in Item 2.01 is filed as Exhibit 99.1 to this Form
                                  8-K and incorporated
                                  herein by this reference.</font></div>
                              </td>
                            </tr>

                        </table>
                      </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(c)</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibits.</strong></font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>The
                        following exhibits are filed
                        herewith:</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      <div align="left">
                        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

                            <tr bgcolor="white">
                              <td width="12%">&#160;</td>
                              <td width="10%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit</strong></font>
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Number</strong></font></div>
                              </td>
                              <td width="78%">&#160;

                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Description
                                  of Exhibits</strong></font></div>
                              </td>
                            </tr>
                            <tr bgcolor="white">
                              <td width="12%">&#160;</td>
                              <td width="10%">&#160;<font size="2">2.1</font></td>
                              <td width="78%"><font size="2">Membership Interest
                                Purchase Agreement dated
                                July 26, 2006 by and among Matria Healthcare, Inc.,
                                Facet Technologies,
                                LLC and Facet Acquisition LLC (incorporated by reference
                                from Matria&#8217;s
                                Form 8-K filed on July 31, 2006).</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td width="12%">&#160;</td>
                              <td width="10%">&#160;</td>
                              <td width="78%">&#160;</td>
                            </tr>
                            <tr bgcolor="white">
                              <td width="12%">&#160;</td>
                              <td width="10%">&#160;<font size="2">99.1</font></td>
                              <td width="78%"><font size="2">Matria&#8217;s unaudited pro forma
                                condensed
                                balance sheet as of June 30, 2006, giving effect
                                to the
                                Disposition.</font></td>
                            </tr>

                        </table>
                      </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 135pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 135pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 135pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB2" style="COLOR: black; LETTER-SPACING: 21.6pt"></font>&#160;</div>
                      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                        <div id="FTR">
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                          <div style="WIDTH: 100%; TEXT-ALIGN: center">
                            <hr style="COLOR: black" noshade size="2">
                          </div>
                        </div>
                        <div id="HDR">
                          <div id="GLHDR" style="WIDTH: 100%" align="right">
                          </div>
                          <div style="WIDTH: 100%" align="left">
                          </div>
                        </div>
                      </div><br><br>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</strong></font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Matria
                        Healthcare, Inc.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>&#160;</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt"><font id="TAB2" style="LETTER-SPACING: 9pt"><font id="TAB2" style="LETTER-SPACING: 9pt"><font id="TAB2" style="LETTER-SPACING: 9pt"><font id="TAB2" style="LETTER-SPACING: 9pt"><font id="TAB2" style="LETTER-SPACING: 9pt"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;</font></font></div>
                      <div align="left">
                        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

                            <tr bgcolor="white">
                              <td width="20%">&#160;<font size="2">Dated: September 6,
                                2006&#160;</font></td>
                              <td width="25%">&#160;</td>
                              <td width="55%"><font size="2">By:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 18pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 0pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                                Parker H. Petit</u></font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td width="20%">&#160;</td>
                              <td width="25%">&#160;</td>
                              <td width="55%"><font size="2">Parker H. Petit</font></td>
                            </tr>
                            <tr bgcolor="white">
                              <td width="20%">&#160;</td>
                              <td width="25%">&#160;</td>
                              <td width="55%"><font size="2">Chairman and Chief
                                Executive
                                Officer</font></td>
                            </tr>

                        </table>
                      </div><br>
                      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                        <div id="FTR">
                          <div id="GLFTR" style="WIDTH: 100%" align="left">
                          </div>
                        </div>
                        <div id="PN" style="PAGE-BREAK-AFTER: always">
                          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">4</font></div>
                          <div style="WIDTH: 100%; TEXT-ALIGN: center">
                            <hr style="COLOR: black" noshade size="2">
                          </div>
                        </div>
                        <div id="HDR">
                          <div id="GLHDR" style="WIDTH: 100%" align="right">
                          </div>
                        </div>
                      </div><br>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
                        INDEX</strong></font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
                      <div align="left">
                        <table cellpadding="0" cellspacing="0" width="100%">

                            <tr>
                              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit</strong></font></div>
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Number</strong></font></div>
                              </td>
                              <td align="left" colspan="2" valign="top" width="90%" style="border-bottom: black thin solid;">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Description
                                  of Exhibits</strong></font></div>
                              </td>
                            </tr>

                        </table>
                      </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
                      <div>
                        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                            <tr valign="top" style="line-height: 1.25;">
                              <td style="width: 54pt;">
                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.1</font></div>
                              </td>
                              <td>
                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Membership
                                  Interest Purchase Agreement dated July 26, 2006
                                  by and among Matria
                                  Healthcare, Inc., Facet Technologies, LLC and Facet
                                  Acquisition LLC
                                  (incorporated by reference from Matria&#8217;s Form 8-K filed on July 31,
                                  2006).</font></div>
                              </td>
                            </tr>

                        </table>
                      </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
                      <div>
                        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                            <tr valign="top" style="line-height: 1.25;">
                              <td style="width: 54pt;">
                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
                              </td>
                              <td>
                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Matria&#8217;s
                                  unaudited pro forma condensed balance sheet as
                                  of June 30, 2006, giving
                                  effect to the Disposition. </font></div>
                              </td>
                            </tr>

                        </table>
                      </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div><br>
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                          </div>
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                          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">5</font></div>
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                            <hr style="COLOR: black" noshade size="2">
                          </div>
                        </div>
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                          </div>
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                          </div>
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                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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[{"type": "8-K", "sequence": "1", "filename": "facetsale.htm", "description": "DISPOSITION OF FACET TECHNOLOGIES", "secsgml_size_bytes": 42404}]
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Disposition of Facet Technologies
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
September
                        1, 2006
Date
                        of
                        Report
(Date
                        of
                        earliest event reported)
Matria
                        Healthcare, Inc.
(Exact
                        Name of Registrant as Specified in Its Charter)
Delaware
(State
                        or
                        Other Jurisdiction of Incorporation)
0-20619
20-2091331
(Commission
                                  File Number)
(IRS
                                  Employer Identification
                                  No.)
1850
                                  Parkway Place, Marietta,
                                  GA
30067
(Address
                                  of Principal Executive
                                  Offices)
(Zip
                                  Code)
770-767-4500
(Registrant's
                                  Telephone Number, Including
                                  Area Code)
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))
Item
                        2.01.
Completion
                        of Acquisition or Disposition of Assets
On
                        September 1, 2006, the registrant, Matria Healthcare, Inc.
                        ("Matria") completed
                        its previously reported disposition of Facet Technologies,
                        LLC ("Facet"), a
                        wholly owned subsidiary of Matria, pursuant to the Membership
                        Interest Purchase
                        Agreement dated July 26, 2006, by and among Matria, Facet
                        and Facet Acquisition
                        LLC (the "Purchaser"), an affiliate of Water Street Capital Partners, L.P., a
                        Chicago-based private equity firm specializing in healthcare
                        investments (the
"Disposition"). Pursuant to the terms of the Purchase Agreement, Purchaser
                        paid
                        Matria approximately $122 million in cash as consideration
                        for the Disposition,
                        subject to certain adjustments set forth in the Purchase
                        Agreement.
Attached
                        to this Report as Exhibit 99.1 is an unaudited pro forma
                        condensed balance sheet
                        that is based on the historical financial statements after
                        giving effect to the
                        gain on the Disposition and the repayment of debt with estimated
                        net proceeds.
The
                        pro
                        forma condensed consolidated statements of operations are
                        not required for this
                        Form 8-K as the effect of the Disposition has been fully reflected in net
                        income from continuing operations included in the Company's historical
                        consolidated statements of operations.
The
                        unaudited pro forma condensed balance sheet includes specific
                        assumptions and
                        adjustments related to the Disposition. The adjustments are
                        based upon presently
                        available information and assumptions that management believes
                        are reasonable
                        under the circumstances as of the date of this filing. However,
                        actual
                        adjustments may differ materially from the information presented.
                        The unaudited
                        pro forma condensed balance sheet, including the notes thereto,
                        should be read
                        in conjunction with the historical consolidated financial
                        statements and
                        accompanying notes included in Matria's Annual Report on Form 10-K for the year
                        ended December 31, 2005, and in the Quarterly Report on Form
                        10-Q for the
                        quarterly period ended June 30, 2006.
The
                        unaudited pro forma condensed consolidated financial information
                        is presented
                        for informational purposes only.
2
Item
                        9.01.
Financial
                        Statements and Exhibits.
(b)
Pro
                        forma financial information.
The
                                  pro forma financial information with respect to
                                  the transaction described
                                  in Item 2.01 is filed as Exhibit 99.1 to this Form
                                  8-K and incorporated
                                  herein by this reference.
(c)
Exhibits.
The
                        following exhibits are filed
                        herewith:
Exhibit
Number
Description
                                  of Exhibits
2.1
Membership Interest
                                Purchase Agreement dated
                                July 26, 2006 by and among Matria Healthcare, Inc.,
                                Facet Technologies,
                                LLC and Facet Acquisition LLC (incorporated by reference
                                from Matria's
                                Form 8-K filed on July 31, 2006).
99.1
Matria's unaudited pro forma
                                condensed
                                balance sheet as of June 30, 2006, giving effect
                                to the
                                Disposition.
3
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.
Matria
                        Healthcare, Inc.
Dated: September 6,
                                2006
By:
/s/
                                Parker H. Petit
Parker H. Petit
Chairman and Chief
                                Executive
                                Officer
4
EXHIBIT
                        INDEX
Exhibit
Number
Description
                                  of Exhibits
2.1
Membership
                                  Interest Purchase Agreement dated July 26, 2006
                                  by and among Matria
                                  Healthcare, Inc., Facet Technologies, LLC and Facet
                                  Acquisition LLC
                                  (incorporated by reference from Matria's Form 8-K filed on July 31,
                                  2006).
99.1
Matria's
                                  unaudited pro forma condensed balance sheet as
                                  of June 30, 2006, giving
                                  effect to the Disposition.
5