SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of report (Date of earliest event reported) October 10, 1997
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OrthoLogic Corp.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-21214 86-0585310
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(Commission File Number) (I.R.S. Employer Identification No.)
2850 South 36th Street, Phoenix, Arizona 85034
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(Address of Principal Executive Offices) (Zip Code)
(602) 437-5520
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(Registrant's Telephone Number, Including Area Code)
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Item 5. Other Events.
On October 10, 1997, OrthoLogic Corp. announced the appointment of Thomas R.
Trotter, 49, to the position of president and CEO. He will join the company on
October 20 and will be appointed a member of the Board of Directors.
Trotter, formerly president, critical care division, of St. Louis-based
Mallinckrodt, Inc., brings a 20-year career in the medical-device industry to
OrthoLogic, as well as extensive expertise in sales and marketing.
"With this announcement, OrthoLogic reinforces its corporate philosophy of
focusing on innovation, integrity and initiative," said Dr. Allan M. Weinstein,
OrthoLogic's founder and former chairman and CEO, who last month assumed the
title of vice chairman. "Tom is an extremely capable, action-oriented individual
with an outstanding record of success in various size companies ranging from
venture start-ups to billion-dollar multinationals. In handing over the reins to
Tom Trotter, I'm confident he is the man to take us to the next level of growth
and profitability."
John M. Holliman III, OrthoLogic's chairman and a founding institutional
investor, added, "We couldn't be more delighted that Tom has joined us. We fully
expect that Tom's leadership will enable us to continue bringing innovative,
quality products to market, reinforce our existing product line, and add
sustained value for our shareholders."
Prior to his most recent post, Trotter held various other positions with
Mallinckrodt, including senior vice president, U.S. markets; group vice
president, anesthesiology and critical care division; and vice president and
general manager, critical care division. Before joining Mallinckrodt in 1988,
Trotter was president and CEO of Diamond Sensor Systems, a successful Ann Arbor,
Mich.-based venture start-up and held senior general management positions with
Shiley, Inc., Irvine, Calif., then a division of Pfizer, Inc.
"I look forward to leading OrthoLogic into a new era of growth," said Trotter.
"As a key part of my initial charter, I plan to focus on sales and marketing to
accelerate the growth of innovative products in continuous passive motion and
bone-growth stimulation as well as build sales of exciting new products such as
Hyalgan."
Trotter replaces Dr. Frank Magee, who served as acting president and oversaw
day-to-day operations of the company during the recruitment process. Dr. Magee
will assume the position of executive vice president. Dr. Weinstein will
continue to focus his activities exclusively on strategic business opportunities
and will remain a member of the Board of Directors.
OrthoLogic, founded in 1987, develops, manufactures and markets proprietary
technologically advanced orthopedic devices designed to promote the healing of
musculoskeletal tissue.
The statements in this report regarding growth, sales and profitability of the
company are forward-looking statements, which are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve risks and uncertainties that could cause
actual results to differ materially. Factors that could cause or contribute to
such differences include, but are not limited to, the acceptance and
effectiveness of new management, potential costs and delays in integrating the
direct sales force, potential costs and delays in integrating acquisitions, and
the company's dependence for sales on approval by third-party payers. The
forward-looking statements should be considered in light of these risks and
uncertainties.
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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.
ORTHOLOGIC CORP.
(Registrant)
October 10, 1997 By /s/ Allen R. Dunaway
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Allen R. Dunaway
Chief Financial Officer
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