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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES ACT OF 1934
DATE OF REPORT: SEPTEMBER 30, 1998
COLORADO MEDTECH, INC.
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(Exact name of registrant as specified in its charter)
Colorado 000-12471 84-0731006
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(State or other jurisdiction (Commission File I.R.S. Employer
of incorporation) Number) Identification No.)
6175 Longbow Drive
Boulder, Colorado 80301
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(Address, including zip code, of principal executive offices)
(303) 530-2660
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(Registrant's telephone number,
including area code)
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ITEM 5. OTHER EVENTS.
Colorado MEDtech, Inc. (the "Company") issued a press release regarding the
filing of a Form S-3 Registration Statement on September 29, 1998. The text
of the press release is attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENT AND EXHIBITS.
(c) EXHIBITS.
NO. DESCRIPTION
99.1 Press release dated September 30, 1998
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 hereunto duly authorized.
DATED, this 30th day of September, 1998.
COLORADO MEDTECH, INC.
By: /s/ John V. Atanasoff
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John V. Atanasoff, II
Chief Executive Officer
2
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Exhibit 99.1
FOR IMMEDIATE RELEASE: NEWS
September 30, 1998 NASDAQ-CMED
COLORADO MEDTECH, INC. ANNOUNCES REGISTRATION OF
COMMON SHARES BY SHAREHOLDER
Boulder, Colorado--Colorado MEDtech, Inc. (NASDAQ:CMED) today announced the
filing of a registration statement for the sale of common shares of CMED by
Vencor, Inc. Vencor, CMED's largest shareholder, with approximately 3.5
million shares, intends to offer for sale its shares, with the cooperation of
CMED, to institutional investors in privately negotiated transactions.
As part of the sale, institutional buyers have expressed an interest to
purchase approximately 2.5 to 3.5 million shares of Vencor's holdings,
subject to certain conditions. "As has been previously announced, Vencor has
been focusing on its core business and liquidating certain non-strategic
assets. We view this transaction as an opportunity to assist Vencor in
raising capital by selling its shares in a controlled, private environment to
value-oriented institutional investors," said John V. Atanasoff, President
and Chief Executive Officer of CMED. "The investors with whom we are working
understand the value in CMED's shares. We see the diversification of CMED's
shareholder base as a benefit to all our shareholders," added Atanasoff.
CMED has indicated it may offer to repurchase up to 1.0 million shares of
Vencor's holdings. "As we have previously announced, we believe CMED's shares
represent an excellent value and a good use of our resources," said
Atanasoff. "This gives us the opportunity to repurchase the shares we desire
in a single transaction."
It is anticipated that CMED and Vencor will continue to work closely together
to explore business opportunities that are beneficial to both organizations.
"Vencor has been and continues to be a key supporter and customer of CMED
through the various program initiatives we have in process," said W. Bruce
Lunsford, Chairman and Chief Executive Officer of Vencor.
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Colorado MEDtech, Inc. is a leading full-service provider of advanced medical
products and comprehensive outsourcing services.
The statements contained in this press release which are not historical facts
are forward-looking statements that are subject to risks and uncertainties
that could cause actual results to differ materially from those set forth in
or implied by forward-looking statements including, but not limited to the
possibility that Vencor may sell none of the shares registered, the risk that
institutional buyers or CMED may fail to purchase any registered shares, and
the risk that Vencor may not continue program initiatives with CMED due to
economic or other factors.
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CONTACTS:
Colorado MEDtech, Inc.
John V. Atanasoff, President and CEO Telephone: (303) 530-2660
Bruce L. Arfmann, CFO Fax: (303) 581-1010
Website: www.cmed.com E-mail:[email protected]
