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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K SB
[X] Current Report Persuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Original Report: June 12, 1998 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: ACQUISITION AND DISPOSITION OF ASSETS
Biosearch Medical Products Inc. announced today, June 12, 1998, it has
sold its property at 35 Industrial Parkway, Branchburg to Hydromer
Inc. for the sum of $850,000 and a prepaid lease back of approximately
two thirds of the building for the three years with a value of
approximately $346,500 bringing the value of the total deal to
$1,196,500. With this transaction Biosearch Medical Products will pay
off Summit Bank and all judgements against it have been dismissed.
Hydromer Inc. is an affiliated party. Manfred F. Dyck is Chairman of
the Board of Directors and Chief Executive Officer of Biosearch
Medical Products Inc. and Director, President and Chief Executive
Officer of Hydromer Inc. He holds a substantial amount of stock in
both companies as noted in the Company's proxy statement and
Hydromer's proxy statement.
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Item 3: N/A
Item 4: N/A
Item 5: N/A
Item 6: N/A
Item 7: N/A
BIOSEARCH MEDICAL PRODUCTS, INC.
By: /s/ Robert C. Keller
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Robert C. Keller
Vice President Finance
Chief Financial Officer
Attested
By: /s/ Robert J. Moravsik
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Robert J. Moravsik
Vice President,
General Counsel and Secretary
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