SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): APRIL 15, 2002
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BIO-IMAGING TECHNOLOGIES, INC.
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(Exact Name of Registrant as Specified in Charter)
DELAWARE 1-11182 11-2872047
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(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
826 NEWTOWN-YARDLEY ROAD, NEWTOWN PA 18940
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(Address of Principal Executive Offices) (Zip Code)
(267) 757-1360
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(Registrant's telephone number,
including area code)
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On April 15, 2002, Bio-Imaging Technologies, Inc. (the "Company")
determined to dismiss its independent auditors, Arthur Andersen LLP ("Arthur
Andersen") and to engage the services of PricewaterhouseCoopers LLP ("PWC") as
its new independent auditors. The change in auditors will be effective April 15,
2002. This determination followed the Company's decision to seek proposals from
independent accountants to audit the financial statements of the Company, and
was approved by the Company's Board of Directors upon the recommendation of its
audit committee. PWC will audit the financial statements of the Company for the
fiscal year ending December 31, 2002, and for the transition period from October
1, 2001 to December 31, 2001.
During the two most recent fiscal years of the Company ended September 30,
2001, and the subsequent interim period through April 15, 2002, there were no
disagreements between the Company and Arthur Andersen on any matter of
accounting principles or practices, financial disclosure, or auditing scope or
procedure, which disagreements, if not resolved to Arthur Andersen's
satisfaction, would have caused Arthur Andersen to make reference to the subject
matter of the disagreement in connection with its reports. Arthur Andersen's
prior audit report on the Company's financial statements for each of the two
most recent fiscal years in the period ended September 30, 2001 contained no
adverse opinion or disclaimer of opinion and was not modified or qualified as to
uncertainty, audit scope, or accounting principles. A letter from Arthur
Andersen addressed to the Securities and Exchange Commission stating their
agreement with the above statements is attached as Exhibit 16.
During the two most recent fiscal years of the Company ended September 30,
2001, and the subsequent interim period through April 15, 2002, the Company did
not consult with PWC regarding any of the matters or events set forth in Item
304(a)(2)(i) or (ii) of Regulation S-B.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits.
Exhibit No. Description of Exhibits
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16.1 Letter from Arthur Andersen LLP regarding change
in certifying accountant.
99.1 Press Release disclosing change in certifying
accountant issued April 16, 2002.
SIGNATURES
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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.
BIO-IMAGING TECHNOLOGIES, INC.
By: /s/ Mark L. Weinstein
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Mark L. Weinstein, President,
Chief Executive Officer and
Chief Financial Officer
Date: April 17, 2002