SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
THE SECURITIES EXCHANGE ACT OF 1934
August 31, 1999 (August 31, 1999)(Date
of Report (Date of earliest event reported))
ALARIS MEDICAL, INC.
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(Exact name of registrant as specified in charter)
Delaware
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(State or other jurisdiction of incorporation)
33-26398
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(Commission File Number)
13-3492624
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(IRS Employer Identification No.)
10221 Wateridge Circle
San Diego, CA 92121
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(Address of principal executive officers)
(619) 458-7000
(Registrant's telephone number, including area code)
Exhibit Index is on Page __
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ITEM 5. OTHER EVENTS
On August 31, 1999, ALARIS Medical, Inc., (the "Registrant") issued a
press release regarding the Registrant's operating company, ALARIS Medical
Systems,Inc. receiving a paid-up patent license and settling a lawsuit filed in
June 1996 by Sherwood Medical Company against IVAC Corporation which alleged
infringement of two patents by reason of certain activities including the sale
by IVAC Corporation of disposable probe covers for use with the Registrant's
infrared tympanic thermometers.
Under terms of the settlement, the Registrant will pay to Tyco
Healthcare Group LP $3,950,000 and receive a paid-up license to certain patents
relating to disposable probe covers for use with the Registrant's infrared
tympanic thermometers.
The press release is attached as Exhibit 1 to this Form 8-K filing.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibit 1 - Press Release dated August 31, 1999
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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.
ALARIS MEDICAL, INC.
(Registrant)
Date: August 31, 1999 By: /s/ William C. Bopp
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Vice President and Chief Financial Officer
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EXHIBIT INDEX
Exhibit Material to be Filed Page
Number as Exhibits Number
Exhibit 1 Press Release
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Exhibit 1
FOR IMMEDIATE RELEASE
August 31, 1999
TYCO HEALTHCARE GROUP GRANTS ALARIS MEDICAL A PAID-UP LICENSE;
COMPANIES SETTLE PATENT LITIGATION
MANSFIELD, MA AND SAN DIEGO, CA, August 31, 1999 - Tyco Healthcare Group LP and
ALARIS Medical, Inc.(NASDAQ:ALRS) today reported that they have entered into an
agreement under which Tyco Healthcare Group LP grants ALARIS Medical a paid-up
license to certain patents. The agreement also settles a patent infringement
lawsuit relating to disposable probe covers for use with the Company's infrared
tympanic thermometers.
The lawsuit was filed in 1996 by Sherwood Medical Company, which is now a unit
of Tyco Healthcare Group. Terms of the settlement were not disclosed.
ALARIS Medical CEO William J. Mercer said, "We are pleased to have this action
behind us and to have the license to use this technology in the future. This
settlement eliminates any possibility of disruption of supply to our customers
and strengthens an important ALARIS Medical franchise product going forward."
ALARIS indicated that a portion of the settlement will be treated as a prepaid
license with the remainder being taken in the third quarter against previously
established reserves. Under the agreement, ALARIS Medical will not be required
to pay any future royalties on patents covered by the agreement.
ALARIS Medical, Inc., through its operating company, ALARIS Medical Systems,
Inc., is known for its IMED(R) and IVAC(R) brand names of intravenous infusion
therapy systems and Instromedix(R) cardiac event recorders and pacemaker
follow-up systems. The Company's principal line of business is the design,
manufacture and marketing of intravenous infusion therapy products, patient
monitoring instruments and related disposables. The Company's products are
distributed to more than 120 countries worldwide. In addition to its San Diego
world headquarters and manufacturing facility, the Company also operates
manufacturing facilities in Creedmoor, NC; Basingstoke, Hampshire, UK; and
Tijuana, Mexico. Additional information on ALARIS Medical can be found at
www.alarismed.com
Tyco Healthcare Group LP manufactures and sells a broad range of medical
supplies and innovative instruments to the medical community worldwide. Tyco
Healthcare's GENIUS(R) tympanic thermometer is part of a complete line of
thermometry products offered through the Kendall operating unit. For additional
information, contact Kendall's website at kendallhq.com.
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This news release contains forward-looking statements which are based largely
upon the Company's expectations for demand and acceptance of new and existing
products, technologies and opportunities, regulatory approvals and market and
industry segment growth. Actual results could vary materially from these
expected results due to a variety of factors, including, without limitation,
changes in the market, competition, government regulation and foreign
operations. Such risk factors are detailed in the Securities and Exchange
Commission filings of ALARIS Medical, Inc. including Form 10-K for the year
ended December 31, 1998.
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