UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
[X] CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Original Report: DECEMBER 3, 1997 Commission File Number 0-9860
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BIOSEARCH MEDICAL PRODUCTS, INC.
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(Exact name of registrant as specified in its charter)
NEW JERSEY 22-2090421
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
35 INDUSTRIAL PARKWAY, SOMERVILLE, NEW JERSEY 08876-1276
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(Address of principal executive offices) (Zip Code + 4)
Registrant's telephone number, including area code: (908) 722-5000
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Item 1: N/A
Item 2: N/A
Item 3: N/A
Item 4: N/A
Item 5: OTHER EVENTS
On November 24, 1997 the Company entered into a contract of sale with
T.M.B. Associates, L.L.C. to sell its 25,000 sq. ft. real estate holdings at 35
Industrial Parkway, Somerville, N.J. The purchase price is to be $900,000 in
cash payable at closing and a rent free three year lease back of 17,000 sq. ft.
which the Company estimates the value to be approximately $357,000. The buyer
has deposited $100,000 in an escrow account. The proceeds will be used to pay
off the existing mortgage the Company has with Summit Bank. The buyer and seller
have set the closing to take place in February of 1998.
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The contract is subject to a mortgage contingency, environmental
inspections and filings and a favorable engineering report. While the Company
believes that the contingencies are not unduly burdensome, there are no
assurances that the closing will take place if an unforeseen matter develops
while the buyer is conducting its due diligence.
Item 6: N/A
Item 7: N/A
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BIOSEARCH MEDICAL PRODUCTS, INC.
By: /s/ ROBERT C. KELLER
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Robert C. Keller
Treasurer and Chief Accounting Officer
Attested
By: /s/ ROBERT J. MORAVSIK
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Robert J. Moravsik
Vice President,
General Counsel and Secretary
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