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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K/A
AMENDMENT NO. 1
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) October 3, 1996
RAYTEL MEDICAL CORPORATION
(Exact name of registrant as specified in charter)
Delaware 0-27186 94-2787342
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2755 CAMPUS DRIVE, SUITE 200, SAN MATEO, CA 94403
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (415) 349-0800
(Former name or former address, if changed since last report)
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired.
In its original filing on Form 8-K, filed on or about October 3, 1996,
the Company indicated that it was impracticable to provide the audited
financial statements of the SETCA Practice for the periods required at
the date of the report. The Company further indicated that it intended
to file such financial statements as soon as they become available and
in any event not later than December 2, 1996.
Since the date of the original filing on Form 8-K, the Commission has
promulgated Release Nos. 33-7355; 34-37802; International Series No.
1021 pursuant to which the Commission adopted revisions to its rules
that streamline requirements with respect to financial statements of
significant business acquisitions in filings made under the Securities
Act of 1933 and the Securities Exchange Act of 1934. The amendments
affected Rule 3-05 of Regulation S-X, Item 310 of Regulation S-B, Item
17 of Form S-4, Item 17 of Form F-4, and General Instructions and Item
7 of Form 8-K. The latter two are relevant to the Company's filing.
The amendment to the General Instructions and Item 7 of Form 8-K raises
the thresholds at which an acquired business will be considered
significant enough to require the provision of its audited financial
statements in filings made under either the Exchange Act or the
Securities Act. The amended rules provide that audited financial
statements of an acquired business should be furnished for the most
recent fiscal year if the significance of the acquiree exceeds 20
percent. No financial statements will be required for acquisitions
below the 20 percent significance threshold.
The Company's acquisition of the SETCA Practice occurred prior to the
adoption of the amendment to the General Instructions and Item 7 of
Form 8-K. However, the due date for the filing of the supplemental
financial information falls after the effective date of the amendment.
The Company believes that it is not required to file the supplemental
financial information because the acquisition of the SETCA Practice is
below the revised 20 percent threshold and audited financial statements
were not readily available at the time of the initial report.
Therefore, the Company believes that its interpretation is in keeping
with the intent of the amendment to reduce the burden of providing
audited financial statements of the acquired business, especially which
the cost of doing so would be unduly burdensome to the Company.
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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 thereunto duly authorized.
RAYTEL MEDICAL CORPORATION
Dated: November 22, 1996 By: /s/ Richard F. Bader
______________________________
Richard F. Bader
Chairman and Chief Executive Officer
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