FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * PETIT PARKER H   2. Issuer Name and Ticker or Trading Symbol MATRIA HEALTHCARE INC [MATR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman of the Board and CEO (Last) (First) (Middle) 1850 PARKWAY PLACE 3. Date of Earliest Transaction (Month/Day/Year) 05/09/2008 (Street) MARIETTA, GA 30067 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 05/09/2008   D   891,962 D (1) 0 D   Common Stock 05/09/2008   D   3,750 D (1) 0 I Petit Grantor Trust Common Stock 05/09/2008   D   73,832 D (1) 0 I Limited Partnership Common Stock 05/09/2008   D   6,720 D (1) 0 I By Spouse Common Stock 05/09/2008   D   90,000 D (1) 0 I Cox Road Partners, LLLP

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option (right to buy)	$ 12.16	05/09/2008		D			3,750	(2)	05/18/2008	Common Stock	3,750	(2)	0	D
Option (right to buy)	$ 11	05/09/2008		D			22,500	(2)	01/19/2009	Common Stock	22,500	(2)	0	D
Option (right to buy)	$ 16	05/09/2008		D			3,750	(2)	07/23/2009	Common Stock	3,750	(2)	0	D
Option (right to buy)	$ 12	05/09/2008		D			3,750	(2)	05/18/2010	Common Stock	3,750	(2)	0	D
Option (right to buy)	$ 9.33	05/09/2008		D			27,011	(2)	10/04/2010	Common Stock	27,011	(2)	0	D
Option (right to buy)	$ 9.75	05/09/2008		D			46,892	(2)	02/16/2011	Common Stock	46,892	(2)	0	D
Option (right to buy)	$ 10.57	05/09/2008		D			300,000	(2)	05/24/2011	Common Stock	300,000	(2)	0	D
Option (right to buy)	$ 12.37	05/09/2008		D			36,503	(2)	02/19/2012	Common Stock	36,503	(2)	0	D
Option (right to buy)	$ 5.84	05/09/2008		D			69,001	(2)	03/12/2013	Common Stock	69,001	(2)	0	D
Option (right to buy)	$ 13.58	05/09/2008		D			58,253	(2)	12/18/2013	Common Stock	58,253	(2)	0	D
Option (right to buy)	$ 16.79	05/09/2008		D			58,126	(2)	08/11/2014	Common Stock	58,126	(2)	0	D
Option (right to buy)	$ 29.97	05/09/2008		D			58,500	(2)	06/08/2015	Common Stock	58,500	(2)	0	D
Option (right to buy)	$ 34.67	05/09/2008		D			150,000	(2)	11/08/2015	Common Stock	150,000	(2)	0	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
PETIT PARKER H 1850 PARKWAY PLACE MARIETTA, GA 30067	X		Chairman of the Board and CEO

Signatures

Roberta L. McCaw as Attorney-in-Fact for Parker H. Petit		05/12/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Disposed of pursuant to the merger agreement among Matria Healthcare, Inc. ("Matria"), Inverness Medical Innovations, Inc. ("Inverness"), Milano MH Acquisition Corp. and Milano Acquisition LLC (the "Merger"). Each share of Matria common stock was exchanged for $6.50 cash and 0.08125 of a share of Series B Convertible Preferred Stock of Inverness having a stated value of $32.50 per share on the effective date of the Merger.
(2)	Assumed by Inverness in the Merger and replaced with a fully vested option to purchase Inverness common stock. The number of shares of Inverness common stock subject to the assumed option is calculated by multiplying the number of shares of Matria common stock subject to the option by 0.68573, rounded down to the nearest whole share. The exercise price of the assumed option is equal to the exercise price of the Matria option divided by 0.68573, rounded up to the nearest whole cent.

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