SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) December 19, 1997
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Bio-Imaging Technologies, Inc.
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(Exact Name of Registrant as Specified in Charter)
Delaware 1-11182 11-2872047
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction Identification No.)
of Incorporation)
830 Bear Tavern Road, West Trenton, New Jersey 08628-1020
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(Address of Principal Executive Offices) (Zip Code)
(609) 883-2000
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(Registrant's telephone
number, including area code)
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
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Corporate Restructuring
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On December 19, 1997, the Company announced a comprehensive corporate
restructuring. In the last year, the Company had pursued a diversification
strategy intended to expand the business beyond its traditional clinical trials
service business, which included the establishment of two new divisions in
October 1996 - the Marketing Information Services Division ("MISD") and the Data
Management and Information Systems Division ("DMISD"). The MISD and DMISD have
not met the Company's expectations and the Company believes that its resources
are better focused on its core business. Accordingly, effective immediately, the
Company will cease the separate operation and funding of the MISD and DMISD.
Management Changes
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On December 19, 1997, Donald W. Lohin and Dr. James J. Conklin resigned
from their positions on the Board of Directors and as officers and employees of
the Company. Immediately prior to the resignations, Donald W. Lohin was the
Company's Chairman, President and Chief Executive Officer. Dr. James J. Conklin
was Chairman Emeritus and Chief Scientific Officer of the Company. The Company
expects that Dr. Conklin will continue to be available to the Company on a
consulting basis.
The Company named Mark L. Weinstein as interim Chief Executive Officer.
In connection with the corporate restructuring announced on December 19,
1997, Anthony P. Nowicki is no longer an officer and employee of the Company.
Mr. Nowicki was the Senior Vice President and General Manager of the MISD.
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SIGNATURES
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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.
Bio-Imaging Technologies, Inc.
By: /s/Robert J. Phillips
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Robert J. Phillips, Vice President
and Chief Financial Officer
(Principal Financial and
Accounting Officer)
Date: December 24, 1997
