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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 EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 27, 1995
_____________________________________________________________________
COMMISSION FILE NUMBER 0-17714
_____________________________________________________________________
BIOPOOL INTERNATIONAL, INC.
(Exact name of Registrant as specified in its charter)
DELAWARE 58-1729436
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
6025 NICOLLE STREET
VENTURA, CALIFORNIA 93003
(Address of principal executive offices)
(805) 654-0643
(Registrant's telephone number including area code)
_________________________________________________________________________
_________________________________________________________________________
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ITEM 5. OTHER EVENTS
Reference is made to the two press releases of Registrant, issued on
December 27, 1995, and December 29, 1995, respectively, which contain
information meeting the requirements of this Item 5, and which are
incorporated herein by this reference. Copies of the two press releases
are attached to this Form 8-K as Exhibits "A" and "B," respectively.
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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.
Date: January 5, 1996 BIOPOOL INTERNATIONAL, INC.
___________________________ _________________________________
(Registrant)
Michael D. Bick, Ph.D.
_________________________________
Michael D. Bick, Ph.D.
Chief Executive Officer and
Chairman of the Board
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EXHIBIT INDEX
Exhibit No. Description Page No.
___________ ___________ ________
A Press Release, dated December 27, 1995 5
B Press Release, dated December 29, 1995 7
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EXHIBIT A
CONTACTS: Michael D. Bick, Ph.D.
Chairman and Chief Executive Officer
(805) 654-0643
Lynne P. Farris
Silverman Heller Associates
(310) 208-2550
FOR IMMEDIATE RELEASE
BIOPOOL INTERNATIONAL SETTLES LEGAL ACTIONS
VENTURA, California (December 27, 1995)--Biopool International,
Inc. (Nasdaq:BIPL) today announced that the lawsuit filed by
Medical Analysis Systems, Inc. (MAS) against Biopool and two of
its employees in November 1994, together with the cross-complaint
filed by Biopool against MAS and its chairman and the related
actions between Biopool and its primary insurance carrier, have
been settled.
Under terms of the settlement, Biopool is free to manufacture and
sell its Drugs of Abuse Control products, subject to the payment
of royalties to MAS, and agrees not to sell two products that
have never been commercialized. Biopool will dismiss its
counterclaims against MAS and its chairman and will pay $100,000
to MAS, the total of which will be paid by Biopool's insurance
carriers.
Michael D. Bick, Ph.D., chairman and chief executive officer of
Biopool, stated, "We are very pleased to have come to an
acceptable agreement and to put this matter behind us. The two
products we have agreed not to manufacture have, in fact, never
been commercialized by Biopool, so there is negligible impact on
future revenues. The DOA controls, upon which we will pay a
royalty, represented less than two percent of 1995 revenues, so
any future impact is also considered negligible."
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Biopool International, Inc.
Settles Legal Actions
December 27, 1995
Page 2
The Company's primary insurance carrier has agreed to dismiss its
claim against Biopool and to continue to reimburse Biopool for
approximately 66 percent of its costs of defense in the MAS
litigation. Biopool has agreed to assign its insurance company
all of its rights against its additional insurance carriers in
connection with the reimbursement of its defense costs and could
see additional recovery from its primary insurance carrier if it
is successful in getting those companies to contribute to these
costs.
Dr. Bick continued, "Settlement with our insurance carrier is
also a major milestone. We will continue to have some additional
legal expenses in the fourth quarter, which we currently estimate
will bring our total out-of-pocket costs, net of expected
insurance recovery, to approximately $350,000. Given the amount
of senior management time spent on litigation in the second half
of 1995, I'm pleased we were able to achieve nearly 20-percent
revenue growth for the year."
"Biopool will begin 1996 on a solid foundation, unencumbered by
the time demands and expense exposure of litigation. Going
forward, we are planning for aggressive growth in revenues and
profitability," Dr. Bick concluded.
Founded in 1987, Biopool International develops, manufactures and
markets a full range of test kits to assess and diagnose
disorders of blood coagulation, thrombotic risk factors,
fibrinolysis, platelet function and the vascular system, as well
as specialty chemistry controls and reagents. The Company's
products are sold to hospitals and clinical and reference
laboratories on a worldwide basis through an extensive network of
distributors.
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EXHIBIT B
CONTACTS: Michael D. Bick, Ph.D.
Chairman and Chief Executive Officer
(805) 654-0643
Lynne P. Farris
Silverman Heller Associates
(310) 208-2550
FOR IMMEDIATE RELEASE
BIOPOOL INTERNATIONAL PROMOTES DUANE BOBYK
TO MANAGING DIRECTOR OF CANADIAN SUBSIDIARY
VENTURA, California (December 29, 1995)--Biopool International,
Inc. (Nasdaq:BIPL) today announced that Duane Bobyk has been
promoted to managing director of Biopool Canada, reporting to the
chairman and chief executive officer of Biopool International.
In his new position, he will manage the Canadian subsidiary
of Biopool International and be responsible for all operations.
From 1986 to 1995, Mr. Bobyk served as general manager of Biopool
Canada, formerly Inter-Haematol, Inc., which was acquired by
Biopool International in 1990. In this capacity, he performed
marketing functions, managed the manufacturing facility, and
established financial controls. Mr. Bobyk earned an M.B.A. in
Entrepreneurial Studies from York University in Toronto and a
bachelor of arts degree in Political Science from Wilfrid Laurier
University in Waterloo, Ontario.
Michael D. Bick, Ph.D., chairman and chief executive officer
of Biopool, stated, "This promotion is in recognition of his
contributions to the Company since he joined it in 1986. He
possesses in-depth knowledge of our product line, our customers'
needs, and the Company's operations in Canada. As this
subsidiary continues to grow, it will benefit from Mr. Bobyk's
extensive management experience."
The Company also reported that Andrew Cerskus, Ph.D., has
resigned as president and chief operating officer of the Company,
effective December 31, 1995, to pursue other business interests
outside of clinical diagnostics. He will remain on the Board of
Directors and serve as a consultant to assure the smooth
continuation of Biopool Canada's business.
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Biopool International, Inc.
December 29, 1995
Page 2
Dr. Bick, who will assume the additional role of president
for the time being, commented, "We wish Andrew well in his
exciting new business opportunity. He has served us well as
president of Biopool Canada since Biopool acquired his privately
held company, Inter-Haematol, in 1990, and we will continue to
benefit from his knowledge and expertise as a consultant."
Founded in 1987, Biopool International develops,
manufactures and markets a full range of test kits to assess and
diagnose disorders of blood coagulation, thrombotic risk factors,
fibrinolysis platelet function and the vascular system, as well
as specialty chemistry controls and reagents. The Company's
products are sold to hospitals and clinical and reference
laboratories on a worldwide basis through an extensive network of
distributors.
# # #
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