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UNITED STATES
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 (Date of earliest event reported) August 2, 1999
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SABRATEK CORPORATION
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(Exact Name of Registrant as Specified in Its Charter)
Delaware 1-11831 36-3700639
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
8111 North St. Louis, Skokie, Illinois 60076
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(Address of Principal Executive Offices) (Zip Code)
(847) 720-2400
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5: OTHER EVENTS.
Sabratek Corporation ("Sabratek") announced that its second-quarter
earnings are expected to be significantly lower than the consensus Wall Street
estimate of $.07 per share. Sabratek expects to release its second quarter
results on or about August 12, 1999.
In addition, Sabratek announced that its Board of Directors is
reviewing, and is prepared to implement, strategic options, which may include a
rights offering and an initial public offering, in order to realize the full
value of Sabratek's newly-acquired subsidiary, Unitron Medical Communications,
Inc., also known as OneMedPlace.com. Sabratek is engaging investment bankers to
advise it on such options.
Finally, Sabratek announced that its Board of Directors had approved a
broad reorganization of its operations to reflect its increasing focus on
products and services related to clinical connectivity. As part of the
reorganization, Sabratek will be divided into three operating divisions, each
headed by a group president reporting to a new corporate office of the
president. The three divisions will be medical devices and related supplies,
services and the Company's Internet portal site, OneMedPlace.com. In connection
with the reorganization, Sabratek stated that it had reviewed Corporate wide
policies and procedures to ensure uniformity among the operating divisions.
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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 hereunto duly authorized.
Date: August 2, 1999 By: /s/ John Reilly
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John Reilly, Chief Financial Officer
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