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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): August 31, 1999
US DIAGNOSTIC INC.
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(Exact name of registrant as specified in its charter)
DELAWARE
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(State or other jurisdiction of incorporation)
1-13392 11-3164389
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(Commission File Number) (IRS Employer Identification No.)
777 South Flagler Drive, Suite 1201, East Tower,
West Palm Beach, Florida 33401
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(Address of principal executive offices) (Zip Code)
Registrant's telephone no. including area code: (561) 832-0006
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ITEM 5. OTHER EVENTS
On August 31, 1999 the Company announced that its Board of Directors has
authorized the Company to repurchase up to 10% of the Company's outstanding
common stock (or approximately 2.3 million shares) from time to time on the open
market.
The Board's action provides flexibility for management to undertake such a
program at its discretion. The Board indicated that at current stock price
levels it was in the best interests of the stockholders for management to have
the flexibility to repurchase shares as market conditions warrant.
Separately, the Company announced that it has retained Lehman Brothers to assist
the Company in evaluating its strategic alternatives to maximize shareholder
value including but not limited to, a possible acquisition, merger or other
business combination.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
US DIAGNOSTIC INC.
Dated: September 1, 1999
By: /s/ Joseph A. Paul
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Joseph A. Paul
President and Chief Executive
Officer
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