FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 5, 1996
EDITEK, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
1-11394 95-3863205
(Commission File Number) (IRS Employer Identification No.)
1238 Anthony Road
Burlington, North Carolina 27215
(Address of principal executive offices) (Zip Code)
(910) 226-6311
(Registrant's telephone number, including area code)
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Item 5. Other Events.
On March 7, 1996, the Registrant announced today that it will
consolidate all laboratory testing services into the recently acquired
MEDTOX laboratory in St. Paul, Minnesota.
The laboratory services in New Jersey will be discontinued and
sample testing will be transitioned to MEDTOX during the next four weeks.
The Company will maintain client services, the courier network and certain
sales/administrative functions in a reduced New Jersey facility. A
comprehensive program has been implemented to ensure a smooth conversion.
As a result of this consolidation of laboratory operations, EDITEK
will take a one time charge against the operating results for 1995 of
approximately $3.8 million or $0.41 per share. This charge is primarily
for a write-off of goodwill of approximately $3.1 million associated with
the acquisition of PDLA and for expected restructuring costs of
approximately $700,000.
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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 hereunto duly authorized.
EDITEK, INC.
Date: March 11, 1996 By: /s/ Peter J. Heath
Name: Peter J. Heath
Title: Vice President of Finance
and Chief Financial Officer
