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)      May 23, 1997
                                                 ----------------------


                        INTEGRATED HEALTH SERVICES, INC.
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


       Delaware                          1-12306                23-2428312
-----------------------------         ------------           -------------------
(State or Other Jurisdiction          (Commission               (IRS Employer
     of Incorporation)                File Number)           Identification No.)


  10065 Red Run Boulevard, Owings Mills, Maryland                       21117
-------------------------------------------------                    -----------
(Address of Principal Executive Offices)                             (Zip Code)


Registrant's telephone number, including area code:    (410) 998-8400
                                                   ----------------------

                                 Not Applicable
--------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)



<PAGE>




Item 5.  Other Events

         On May 23, 1997,  Integrated  Health  Services,  Inc.  issued the press
release filed herewith as Exhibit 99.


Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

         (c)  Exhibits.

         99.      Press Release dated May 23, 1997.



                                       2

<PAGE>




                                   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.



                                       INTEGRATED HEALTH SERVICES, INC.



Date: May 23, 1997                     By: /s/ W. Bradley Bennett
                                           ----------------------
                                           Name: W. Bradley Bennett
                                           Title: Executive Vice President-Chief
                                                   Accounting Officer




                                       3
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{"company-data": {"conformed-name": "INTEGRATED HEALTH SERVICES INC", "cik": "0000785814", "assigned-sic": "8051", "irs-number": "232428312", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-12306", "film-number": "97613753"}, "business-address": {"street1": "10065 RED RUN BLVD", "city": "OWINGS MILLS", "state": "MD", "zip": "21117", "phone": "4109988400"}, "mail-address": {"street1": "100065 RED RUN BLVD", "city": "OWINGS MILLS", "state": "MD", "zip": "21117"}}
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)      May 23, 1997
                                                 ----------------------

                        INTEGRATED HEALTH SERVICES, INC.
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)

       Delaware                          1-12306                23-2428312
-----------------------------         ------------           -------------------
(State or Other Jurisdiction          (Commission               (IRS Employer
     of Incorporation)                File Number)           Identification No.)

  10065 Red Run Boulevard, Owings Mills, Maryland                       21117
-------------------------------------------------                    -----------
(Address of Principal Executive Offices)                             (Zip Code)

Registrant's telephone number, including area code:    (410) 998-8400
                                                   ----------------------

                                 Not Applicable
--------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)
Item 5.  Other Events

         On May 23, 1997,  Integrated  Health  Services,  Inc.  issued the press
release filed herewith as Exhibit 99.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

         (c)  Exhibits.

         99.      Press Release dated May 23, 1997.

                                       2
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.

                                       INTEGRATED HEALTH SERVICES, INC.

Date: May 23, 1997                     By: /s/ W. Bradley Bennett
                                           ----------------------
                                           Name: W. Bradley Bennett
                                           Title: Executive Vice President-Chief
                                                   Accounting Officer

                                       3