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U.S. 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): May 12, 1997
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Vital Images, Inc.
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(Exact name of registrant as specified in its charter)
Minnesota 0-22229 42-1321776
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
3100 West Lake Street, Suite 100
Minneapolis, Minnesota 55416
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(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code: (612) 915-8000
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Not applicable
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(Former name or former address, if changed since last report.)
(The remainder of this page was intentionally left blank.)
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Item 5. Other Events.
On May 12, 1997, Bio-Vascular, Inc. ("Bio-Vascular") completed a
distribution of the outstanding shares of common stock of Vital Images, Inc.
(the "Registrant") to the shareholders of Bio-Vascular. The distribution
resulted in the separation of Bio-Vascular's medical visualization business from
its surgical business. Following the distribution, the Registrant will continue
the medical visualization business as a separate, stand-alone company.
The distribution was effected as a special dividend of one share of the
Registrant's common stock for every two shares of common stock of Bio-Vascular
held of record as of the close of business on May 5, 1997. As a result of the
distribution, 100% of the outstanding shares of the Registrant's common stock
have been distributed to the shareholders of Bio-Vascular. Certificates for the
Registrant's common stock will be mailed to holders of Bio-Vascular's common
stock on or about May 13, 1997.
The information set forth in the Company's press release attached hereto as
Exhibit 99.1 is hereby incorporated by reference herein.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Businesses Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits.
Exhibit 99.1 Press Release of Vital Images, Inc. dated May 12, 1997.
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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.
Vital Images, Inc.
Date: May 14, 1997. By /s/ Andrew M. Weiss
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Andrew M. Weiss
President and Chief Executive Officer
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Exhibit 99.1
FOR IMMEDIATE RELEASE
VITAL IMAGES ANNOUNCES COMPLETION OF SPIN-OFF FROM BIO-VASCULAR
MINNEAPOLIS, Minnesota -- May 12 -- Vital Images, Inc., (OTC/BB:VTAL) today
announced that Bio-Vascular, Inc., (Nasdaq:BVAS) has completed a distribution of
the outstanding common stock of Vital Images to the shareholders of Bio-
Vascular, Inc. The distribution was effected as a special dividend of one share
of Vital Images common stock for every two shares of Bio-Vascular common stock
held of record on May 5, 1997.
As a result of the distribution, all of the outstanding shares of Vital
Images common stock have been distributed to Bio-Vascular shareholders, and
Vital Images is conducting its visualization business as a stand-alone,
independent company.
Vital Images common stock is expected to begin trading in the over-the-
counter market on the OTC Bulletin Board, under the symbol VTAL. However, Vital
Images intends to seek listing of its common stock on the Nasdaq SmallCap Market
at some future date.
Vital Images, Inc., with offices in Minneapolis and Fairfield, Iowa, is a
leading developer of visualization software and workstations for medical
research, clinical diagnosis, and surgical planning and navigation, based on 2D
and 3D medical images. The company's systems provide interactive visualization,
analysis and animation, as well as network communication based on DICOM and
Internet protocols. The company's systems and technology are marketed to
healthcare providers and to manufacturers of diagnostic imaging systems. Press
releases and other corporate information are available at
http://www.vitalimages.com.
5/12/97
