U.S. 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): November 14, 1997
BSD MEDICAL CORPORATION
Commission file number 0-10783
DELAWARE 75-1590407
(State of Incorporation) (IRS Employer Identification Number)
2188 West 2200 South
Salt Lake City, Utah 84119
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (801) 972-5555
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CURRENT EVENTS ON FORM 8-K
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On November 18, 1997, BSD Medical Corporation issued the
attached press release.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits:
No exhibits are being filed with this Form 8-K.
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BSD MEDICAL CORPORATION Telephone: (801) 972-5555
2188 West 2200 South Facsimile: (801) 972-5930
Salt Lake City, Utah 84119-1326 Email: [email protected]
Contact: Dixie Toolson Sells NASD: BSDM
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For Immediate Release
BSD Medical and Oracle Strategic Partners Form TherMatrx
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SALT LAKE CITY, Utah, November 18, 1997 -- On November 14,
1997, BSD signed an agreement with Oracle Strategic Partners
(OSP) to form TherMatrx, Inc., a jointly-owned company which
will initially focus on minimally invasive treatments of
urological diseases, specifically Benign Prostatic Hyperplasia
(BPH). The BPH market is currently estimated to be over $3
billion annually in the U.S. alone. Oracle Strategic Partners
is a private investment firm specializing in public securities
investing and merchant banking in the health care, bioscience
and related industries.
TherMatrx will be capitalized by the contribution of certain
assets of BSD which have applicability in the urology market
and a $6 million investment by OSP. OSP's investment is
milestone-based with an initial $3 million investment on
closing and $3 million contingent on the achievement of
certain milestone parameters. Assuming completion of the
milestone funding, BSD will retain a 30% interest on a fully
diluted basis. As part of the agreement, BSD plans to provide
certain manufacturing and consulting services, for which
TherMatrx will compensate the Company. TherMatrx' corporate
offices will be located in Chicago, Illinois. The President
and CEO will be Charles Manker. Dr. Gerhard Sennewald has
been appointed by BSD's Board to serve as BSD's representative
on the Board of Directors of TherMatrx.
This transaction is consistent with the strategy of the BSD
Board of Directors to enhance shareholder value. BSD will
continue to focus its resources on the cancer treatment
market, including a concentration on the areas of deep
regional hyperthermia and the treatment of prostatic
carcinoma.
BSD pioneered the commercial field of heat therapy for the
treatment of disease in 1978 and the non-surgical treatment of
benign diseases of the prostate using microwave energy in
1986. BSD Medical Corporation is the leading developer and
manufacturer of hyperthermia systems for cancer therapy.
BSD's stock is traded on the NASD Bulletin Board under the
symbol BSDM. The statements in this news release may contain
forward looking information that involves risk and
uncertainties and thus may not be indicative of actual
results.
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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.
BSD MEDICAL CORPORATION
Date: November 18, 1997 By: /s/ Paul F. Turner
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Paul F. Turner
Chairman of the Board, Acting
President, and Senior Vice
President of Research
