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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): April 21, 2000
HYPERTENSION DIAGNOSTICS, INC.
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(Exact name of Registrant as specified in its charter)
Minnesota 0-24635 41-1618036
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
2915 Waters Road, Suite 108
Eagan, Minnesota 55121
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (651) 687-9999
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Items 1, 2, 3, 4, 6, 7 and 8 are not applicable and therefore omitted.
ITEM 5. OTHER EVENTS.
Dennis L. Sellke has resigned, effective April 21, 2000, from the Board of
Directors of the Registrant, and will no longer be serving as its Chief
Executive Officer. Incorporated herein is the attached copy of the related press
release dated April 26, 2000.
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SIGNATURE
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.
HYPERTENSION DIAGNOSTICS, INC.
By /s/ James S. Murphy
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Its Senior Vice President of Finance and
Administration and Chief Financial
Officer
Dated: April 28, 2000
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FOR IMMEDIATE RELEASE
Contact: Greg H. Guettler,
President
651-687-9999
HYPERTENSION DIAGNOSTICS ANNOUNCES RESIGNATION OF DIRECTOR
ST. PAUL, MN, April 26, 2000 - Hypertension Diagnostics, Inc., (Nasdaq: HDII;
HDIIW; HDIIU) announced today that Dennis L. Sellke has resigned as a director
of the Company effective April 21, 2000, and will no longer be serving as its
Chief Executive Officer. "We regretfully accept Dennis' resignation. During his
tenure, the Company has made significant progress. The Company wishes him well
in his future business endeavors," said Melville R. Bois, the Company's
Chairman. The Company also reported that Greg H. Guettler, the Company's
President, would assume most of Mr. Sellke's responsibilities with the
assistance of the other Company officers, Dr. Charles F. Chesney, Executive Vice
President and Chief Technology Officer, and Mr. James S. Murphy, Senior Vice
President of Finance & Administration and Chief Financial Officer.
Hypertension Diagnostics(TM) has developed blood pressure waveform analysis
technology which has been incorporated into the design of HDI/PulseWave(TM) and
CVProfilor(TM) CardioVascular Profiling Systems. These non-invasive Systems are
capable of measuring several hemodynamic parameters including arterial
compliance (that is, the elasticity of an individual's arteries). Such
measurements are useful to clinical researchers studying cardiovascular
interventions in industry (for example, pharmaceutical manufacturers) and in
academic and medical centers. The CardioVascular Profile Reports generated by
the CVProfilor(TM) Systems have a clinical application by determining if
patients have potential underlying vascular disease that might require more
specific diagnostic evaluation by physicians or other health care providers. As
such, the Systems are capable of providing medical information which may prove
invaluable to the early detection of persons at risk for future vascular
disease.
- more -
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Page 2, April 26, 2000
Hypertension Diagnostics, Inc.
Forward-looking statements in this press release are made under the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. The Company
wishes to caution readers not to place undue reliance on any forward-looking
statements and to recognize that the statements are not predictions of actual
future results. Actual results could differ materially from those anticipated in
the forward-looking statements due to the risks and uncertainties set forth in
the Company's 1999 Annual Report on Form 10-KSB under the caption "Risk
Factors," as well as others not now anticipated. These risks and uncertainties
include, without limitation, the Company's ability to receive regulatory
approval for its CVProfilor(TM) DO-2020 System; the availability of third-party
reimbursements; market acceptance of the Company's products; the ability to
operate and maintain the Central Data Management Facility ("CDMF") on a
commercial scale; regulatory restrictions pertaining to data privacy issues in
utilizing the CDMF; the ability of third parties to manufacture the Company's
products on a commercial scale and in compliance with regulatory requirements;
the availability of integral components for the Company's products; the
Company's ability to develop distribution channels; increased competition;
changes in government regulation; health care reform; exposure to potential
product liability; and the Company's ability to protect its proprietary
technology.
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Hypertension Diagnostics(TM), HDI/PulseWave(TM) and CVProfilor(TM) are
trademarks of Hypertension Diagnostics, Inc. All rights reserved.
Internet Website: www.hdi-pulsewave.com
