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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: February 14, 2000
LanVision Systems, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-28132 31-1455414
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
4700 Duke Drive, Suite 170, Mason , OH, 45040-9374
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(Address of principal executive offices)
Registrant's telephone number, including area code (513) 459-5000
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Item 1. Changes in Control of Registrant.
Item 2. Acquisition or Disposition of Assets.
Item 3. Bankruptcy or Receivership.
Item 4. Changes in Registrant's Certifying Accountant.
Item 5. Other Events.
The Company has previously reported that it was engaged in arbitration
proceedings with The Detroit Medical Center ("the Customer") arising from the
Company's claim that the Customer was not permitted to terminate its agreement
with the Company pursuant to the terms of that contract. Effective as of January
31, 2000, the parties have executed a settlement agreement which amicably
resolves all pending and future legal proceedings by the parties, and all claims
that the parties have asserted or could assert in the future, relating to the
termination of the agreement.
The Company and the Customer mutually believe that the terms of the
settlement are fair and in furtherance of their respective objectives. As a
result of this settlement, the Company will be paid its outstanding receivables
and certain other amounts due under the contract during the first quarter of
fiscal 2000. As a condition to the execution of, and by the terms of, the
settlement agreement, the specific terms and conditions of the settlement are
confidential.
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The Company will include approximately $1 million in other income in
the Company's financial statements for its fiscal quarter ended January 31,
2000.
Forward Looking Statements
This Form 8-K contains forward-looking statements. The forward-looking
statements contained herein are subject to certain risks and uncertainties that
could cause actual results to differ materially from those reflected in the
forward-looking statements included herein. These risks and uncertainties
include, but are not limited to, the impact of competitive products and pricing,
product demand and market acceptance, new product development, key strategic
alliances with vendors that resell LanVision products, the ability of the
Company to control costs, availability of products from third party vendors, the
healthcare regulatory environment, healthcare information systems budgets,
availability of healthcare information systems trained personnel for
implementation of new systems, as well as maintenance of legacy systems, Year
2000 Compliance priorities, fluctuations in operating results and other risks
detailed from time to time in the LanVision Systems, Inc. filings with the
Securities and Exchange Commission. Readers are cautioned not to place undue
reliance on these forward-looking statements, which reflect management's
analysis only as of the date hereof. The Company undertakes no obligation to
publicly release the results of any revision to these forward-looking
statements, which may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
Item 6. Resignations of Registrant's Directors.
Item 7. Financial Statements and Exhibits.
Item 8. Change in Fiscal Year
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
LanVision Systems, Inc.
Date: February 14, 2000 By: /s/ J. Brian Patsy
J. Brian Patsy
Chief Executive Officer
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