UNITED STATES
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 2, 2017
 
DYNATRONICS CORPORATION
(Exact name of registrant as specified in its charter)
 
Utah
0-12697
87-0398434
(State or Other Jurisdiction of Incorporation)
Commission File Number
(IRS Employer Identification Number)
 
7030 Park Centre Dr., Cottonwood Heights, Utah
84121
(Address of principal executive offices)
(Zip Code)
 
Registrant's telephone number, including area code: (801) 568-7000
 
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:
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01  Other Events.
On October 2, 2017, Dynatronics Corporation issued a press release announcing the closing of its acquisition of Bird & Cronin, Inc., a Minnesota-based manufacturer of orthopedic soft goods and medical supplies effective October 2, 2017, a copy of which is attached hereto as Exhibit 99.1 and is hereby incorporated in this Current Report by reference.

Item 9.01
Financial Statements and Exhibits.
 
 
(d)
Exhibits.
99.1—Press Release of Dynatronics Corporation dated October 2, 2017.

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.
 
 
DYNATRONICS CORPORATION
 
 
 
By:   /s/ Kelvyn H. Cullimore, Jr.
 
Kelvyn H. Cullimore, Jr.
 
Chairman and President
 
Date: October 2 , 2017
 
 

Exhibit 99.1



NEWS RELEASE

Contact: Jim Ogilvie, 800-874-6251 or 801-568-7000
Dynatronics Completes Acquisition of
Bird & Cronin, Inc.

COTTONWOOD HEIGHTS, UT (October 2, 2017) – Dynatronics Corporation (NASDAQ: DYNT), today announced that it successfully closed the acquisition of substantially all of the assets of Bird & Cronin, Inc., a manufacturer of orthopedic soft goods and specialty patient care products located in Minneapolis, Minnesota.  The company announced the signing of the purchase agreement on September 27, 2017.
"The addition of Bird & Cronin adds tremendous strength to our business," said Kelvyn Cullimore, Jr., Dynatronics' Chairman and CEO.  "Following closely behind the recent acquisition of Hausmann Industries, this transaction further diversifies and broadens our market position.  We believe the combined business will create value for both our investors and the customers we serve."
Dynatronics expects the financial contribution of Bird & Cronin to be material to the company's combined operating results during the coming 12 months, and will provide further information regarding the transaction during its first fiscal quarter earnings call in mid-November.
About Dynatronics
Dynatronics designs, manufactures, and distributes advanced-technology therapeutic devices, medical and athletic training treatment tables, rehabilitation equipment, institutional cabinetry, orthopedic soft goods, and specialty patient care products and supplies.  Through its various distribution channels, the company markets and sells its products to physical therapists, chiropractors, orthopedists, athletic trainers, sports medicine practitioners, and other medical professionals and institutions.  More information is available at www.dynatronics.com .
About Bird & Cronin
Bird & Cronin manufactures, designs and distributes a full range of orthopedic soft goods and specialty patient care products to hospitals, orthopedic specialists, universities, research facilities, and other customers across the medical universe.  More information is available at www.birdcronin.com .
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements.  Those statements include references to the company's expectations and similar statements.  Forward-looking statements in this press release include statements regarding the company's expectations of the financial contribution of Bird & Cronin on the company's combined operating results in the next 12 months.  Actual results may vary from the views expressed in the forward-looking statements contained in this release.  The business of the company, including the development, manufacture, and sale of the company's products are subject to a number of risks and uncertainties, including, but not limited to, changes in the regulatory environment, competitive factors, inventory risks due to shifts in market demand, market demand for the company's products, availability of financing at cost-effective rates, risks associated with the integration of acquired businesses, and the risk factors listed from time to time in the company's SEC reports.