SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 15, 1998
BIOSOURCE INTERNATIONAL, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 000-21930 77-0340829
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
820 Flynn Road
Camarillo, California 93012
(Address of Principal Executive Offices)
(805) 987-0086
(Registrant's Telephone Number)
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ITEM 5. OTHER EVENTS
Reference is made to the press release of Registrant, issued on December
15, 1998, which contains information meeting the requirements of this Item 5,
and which is incorporated herein by this reference. A copy of the press release
is attached to this Form 8-K as Exhibit 99.1.
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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.
December 30, 1998 BIOSOURCE INTERNATIONAL, INC.
By: /s/ James Chamberlain
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James Chamberlain
Chief Executive Officer
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EXHIBIT INDEX
Exhibits
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99.1 Press Release
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[TYPE] Ex-99.1
BIOSOURCE INTERNATIONAL COMPLETES ACQUISITION OF BIOFIUIDS, INC.
CAMARILLO, Calif., Dec. 15 /PRNewswire/ -- BioSource International, Inc.
(Nasdaq: BIOI), today announced completion of its acquisition of Biofluids, Inc.
of Rockville, Maryland, which was announced on October 28, 1998. Biofluids, Inc.
founded in 1974, is a leader in the manufacture and sale of high quality serum,
media and buffers, serving academic, biotechnology, and pharmaceutical
researchers primarily in the Washington, D.C. area. For the year ended December
31, 1997, Biofluids had net revenues of $2.3 million (unaudited), and for the
nine months ended September 30, 1998, Biofluids had net revenues of $1.7 million
(unaudited).
BioSource paid approximately $2.7 million in cash for substantially all the
assets of Biofluids, and has entered into an eight-month employment agreement
with Dr. Robert Rafajko, the president and founder of Biofluids. The Company
financed the acquisition with cash from operations.
"Biofluids is an excellent and profitable company with a significant
presence in its market," said James H. Chamberlain, President and Chief
Executive Officer of BioSource International, Inc. "Biofluids' high level of
customer service and location on the East Coast provide us with an outstanding
platform to provide additional services to researchers in the area. We firmly
believe that the acquisition of Biofluids is very synergistic and will
contribute to enhanced value for shareholders of BioSource."
BioSource International, Inc. is engaged in the development, manufacture,
marketing and distribution of immunological reagents, test kits and
oligonucleotides used in biomedical research. The types of products supplied by
the Company include a range of bioactive proteins, enzymes, substrates,
antibodies, human and murine cytokines, growth factors and a variety of assay
systems for the detection of biological molecules. These products focus on areas
of research such as immunology, AIDS, and cancer. The Company focuses its sales
efforts on academic, industrial, and governmental laboratories.
This news release may contain forward looking statements that involve risks
and uncertainties including risks described from time to time in reports filed
by BioSource International, Inc. with the Securities and Exchange Commission,
including its most recently filed Annual Report on Form 10-K.
