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) October 5, 2004
Inverness Medical Innovations, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware | | 001-16789 | | 04-3565120 |
(State or other jurisdiction of
incorporation) | | (Commission file number) | | (IRS Employer Identification
No.) |
| | | | |
51 Sawyer Road, Suite 200, Waltham, Massachusetts 02453 |
(Address of principal executive offices) |
| | | | |
Registrant’s telephone number, including area code: (781) 647-3900 |
| | | | |
Not Applicable |
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.05 COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES
On October 5th and 6th , 2004, Unipath Ltd, a subsidiary of Inverness Medical Innovations, Inc. (the “Company”), notified 18 employees at its manufacturing facility in Bedford, England, that their services were being terminated. The terminations, which result from a process commenced during the Company’s third quarter, are intended to create cost savings of approximately $1.0 million annually, reduce organizational complexity and increase responsiveness and accountability within Unipath’s Bedford manufacturing operation. The Company expects to recognize a charge of approximately $1.7 million in its third quarter 2004 operating results to cover expected severance, early retirement benefits and third party outplacement services and training costs arising from the plan of termination.
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SIGNATURE
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.
| INVERNESS MEDICAL INNOVATIONS, INC. |
| | |
| BY: | /s/ Christopher J. Lindop | |
| | Christopher J. Lindop |
| | Chief Financial Officer |
Dated: October 12, 2004 | | |
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