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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
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PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: April 5, 1999
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(DATE OF EARLIEST EVENT REPORTED)
STERILE RECOVERIES, INC.
(Exact name of Registrant as specified in its Charter)
FLORIDA 000-20997 59-3252632
(State or other juris- (Commission File (I. R. S. Employer
diction of incorporation) Number) Identification No.)
28100 U.S. HIGHWAY 19 NORTH, SUITE 201
CLEARWATER, FLORIDA 33761
(Address of Principal Executive Offices)
(727) 726-4421
(Registrant's Telephone Number, including area code)
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ITEM 4. Changes in Registrant's Certifying Accountant
On April 5, 1999, the Board of Directors of Sterile Recoveries, Inc.
("the Company"), with the approval of the Company's Audit Committee, elected to
appoint Ernst & Young LLP ("Ernst & Young") as the Company's independent
accountants, effective immediately. Ernst & Young replaces Grant Thornton LLP
("Grant Thornton"), which previously served as the Company's auditor and
provided excellent service to the Company during the period that included its
initial public offering.
Grant Thornton's reports on the Company's financial statements for the
Company's two most recent fiscal years ending December 31, 1998 contained no
adverse opinion or disclaimer of opinion, nor were they qualified or modified
as to uncertainty, audit scope, or accounting principles.
During the Company's two most recent fiscal years ending December 31,
1998, and through April 5, 1999, there were no disagreements with Grant
Thornton on any matter of accounting principles or practices, financial
statement disclosure, auditing scope or procedure which disagreements, if not
resolved to the satisfaction of Grant Thornton, would have caused it to make
reference to the subject matter of the disagreement in connection with its
reports.
During the Company's two most recent fiscal years ending December 31,
1998, and through April 5, 1999, there have been no reportable events with
Grant Thornton required to be disclosed by Item 304 (a) (1)(v) of Regulation
S-K.
Effective April 5, 1999, the Company engaged Ernst & Young as its
principal accountants to audit the Company's financial statements. During the
Company's two most recent fiscal years ending December 31, 1998, and through
April 5, 1999, the Company has not consulted with Ernst & Young on items which
(1) concerned the application of accounting principles to a specified
transaction, either completed or proposed, or the type of audit opinion that
might be rendered on the Company's financial statements or (2) concerned the
subject matter of a disagreement or reportable event with Grant Thornton.
The Company has requested Grant Thornton to furnish it with a letter
addressed to the Securities and Exchange Commission stating whether Grant
Thornton agrees with the statements contained in the second, third and fourth
paragraphs above. A copy of the letter from Grant Thornton to the Securities
and Exchange Commission is filed as an exhibit to this report.
ITEM 7. Financial Statements and Exhibits
99.1 Letter from Grant Thornton to the Securities and Exchange
Commission dated April 9, 1999.
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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.
STERILE RECOVERIES, INC.
(Registrant)
Dated: April 9, 1999 /s/ Richard T. Isel
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Richard T. Isel
Chairman of the Board & Chief
Executive Officer
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EXHIBIT 99.1
[Letterhead of Grant Thornton LLP]
April 9, 1999
Securities and Exchange Commission
Washington, D.C. 20549
RE: Sterile Recoveries, Inc.
File No. 0-20997
Dear Sir or Madam:
We have read Item 4 of the Form 8-K of Sterile Recoveries, Inc. dated April 9,
1999 and agree with the statements contained therein.
Very truly yours,
/s/ GRANT THORNTON LLP
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Grant Thornton LLP
