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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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 17, 1998
Atrion Corporation
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(Exact name of registrant as specified in its charter)
Delaware 0-10763 63-0821819
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(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) File Number) Identification No.)
One Allentown Parkway, Allen, Texas 75002
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including area code: (972) 390-9800
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ITEM 5. OTHER EVENTS.
On November 17, 1998 the Registrant issued a press release announcing that it
plans to acquire its headquarters building and adjacent property. A copy of the
press release is attached hereto as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits. The following exhibit is included herewith.
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Exhibit
No. Description Page No.
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99 Press Release of the Registrant dated 4
November 17, 1998
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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 thereunto duly authorized.
ATRION CORPORATION
By: /s/ Emile A. Battat
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Its: Chairman, President and
Chief Executive Officer
Date: November 18, 1998
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EXHIBIT 99
FOR IMMEDIATE RELEASE
ATRION TO PURCHASE HEADQUARTERS
FACILITY
ALLEN, Texas (November 17, 1998) -- Atrion Corporation (Nasdaq/NM-ATRI) today
announced that it plans to purchase its headquarters facility and adjacent
property in Allen, Texas in early 1999. The Company is presently leasing the
facility from Advanced Neuromodulation Systems, Inc., which is also currently
using the facility, under an arrangement that was entered into when the Company
purchased certain product lines from Advanced Neuromodulation Systems (then
known as Quest Medical, Inc.) on January 30, 1998. As previously announced, at
the time the Company purchased those product lines it obtained an option to
purchase the Allen property, which includes a 108,000 square foot office,
manufacturing and warehouse building situated on approximately 14.8 acres and
4.3 acres adjacent to such property which are unimproved, for $6.5 million.
Subsequently, the Company moved its headquarters to the facility, which also
serves as the manufacturing and distribution facility for the Company's Quest
Medical unit.
"Over the past several months, the Company has conducted an in-depth analysis to
determine whether to exercise our option to purchase the Allen facility," said
Emile A. Battat, Chairman and President. "We have concluded that purchasing the
facility and adjacent property under the option agreement is in the best
interest of the Company and its stockholders. We are continuing to explore our
alternatives following the closing of the purchase, which is currently planned
for February 1, 1999. These would include the continued occupation of a
substantial portion of the facility and the possible sale and leaseback of the
Allen property. The Company expects to finance a significant part of the
purchase price under its existing credit facility and/or through a conventional
mortgage."
Contact: Jeffery Strickland
Vice President and Chief Financial Officer
(972) 390-9800
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