<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>October 3, 2012</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Date of earliest event reported)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>ERBA Diagnostics, Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">1-14798</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">11-3500746</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">incorporation or organization)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: windowtext 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2140 North Miami Avenue</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Miami, Florida</B></P></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">33127</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of principal executive<BR>
offices)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>(305) 324-2300</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Not Applicable</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Pre-commencement
communications pursuant to Rule 13e4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item&nbsp;1.01 &ndash; Entry into a Material Definitive
Agreement </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 3, 2012 (the &ldquo;Effective
Date&rdquo;), ERBA Diagnostics, Inc., a Delaware corporation (&ldquo;ERBA&rdquo; or the &ldquo;Registrant&rdquo;), acquired all
of the issued and outstanding shares (the &ldquo;Shares&rdquo;) of capital stock of Drew Scientific, Inc., a Delaware corporation
(together with its subsidiaries, &ldquo;Drew Scientific&rdquo; or the &ldquo;Company&rdquo;), from Drew Scientific Inc., a Texas
corporation (the &ldquo;Seller&rdquo;), a subsidiary of Escalon Medical Corp., a Pennsylvania corporation (&ldquo;Escalon&rdquo;),
pursuant to a Stock Purchase Agreement dated the Effective Date as entered into by and among, ERBA, Seller and Escalon (the &ldquo;Stock
Purchase Agreement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The purchase price paid by the Registrant
for the Shares (the &ldquo;Purchase Price&rdquo;) was $6.5 million, which was funded through the purchase by ERBA Diagnostics Mannheim
GmbH (&ldquo;ERBA Mannheim&rdquo;) from the Registrant of 8,666,667 shares of the Registrant&rsquo;s common stock at a purchase
price of $0.75 per share pursuant to the terms of that certain Stock Purchase Agreement, dated April 8, 2011, by and between the
Registrant and ERBA Mannheim, as amended on December 29, 2011 and October 3, 2012. Such Stock Purchase Agreement, as amended on
December 29, 2011, is hereinafter referred to as the &ldquo;ERBA Mannheim Stock Purchase Agreement,&rdquo; and the October 3, 2012
amendment to the ERBA Mannheim Stock Purchase Agreement, the terms of which are discussed below, is hereinafter referred to as
the &ldquo;Second Amendment.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As previously disclosed, pursuant to the
ERBA Mannheim Stock Purchase Agreement, the Registrant agreed to sell and issue to ERBA Mannheim, and ERBA Mannheim agreed to purchase
from the Registrant, a total of 20,000,000 shares of the Registrant&rsquo;s common stock at a purchase price of $0.75 per share
for an aggregate purchase price of $15,000,000 in the following manner: (i) 6,666,667 shares of the Registrant&rsquo;s common stock
for an aggregate purchase price of $5,000,000, upon the initial consummation of the Investment, which occurred on July 1, 2011
(the &ldquo;Initial Closing&rdquo;); (ii) 6,666,667 shares of the Registrant&rsquo;s common stock for an aggregate purchase price
of $5,000,000, after the Initial Closing and on the date that is 60 days after the date on which a majority of the independent
directors on the Registrant&rsquo;s Board of Directors determines by vote or written consent that the closing shall occur and causes
the Registrant to provide notice thereof to ERBA Mannheim (the &ldquo;Second Closing&rdquo;); and (iii) 6,666,666 shares of the
Registrant&rsquo;s common stock for an aggregate purchase price of $5,000,000, after or simultaneously with the Second Closing
and on the date that is 60 days after the date on which a majority of the independent directors on the Registrant&rsquo;s Board
of Directors determines by vote or written consent that the closing shall occur and causes the Registrant to provide notice thereof
to ERBA Mannheim (the &ldquo;Final Closing&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the ERBA Mannheim Stock Purchase
Agreement, the Registrant also issued to ERBA Mannheim warrants to purchase an additional 20,000,000 shares of the Registrant&rsquo;s
common stock (the &ldquo;Warrant&rdquo;) at an exercise price of $0.75 per share. During April 2012, ERBA Mannheim exercised, in
part, the Warrant by paying an aggregate exercise price of $450,000 to the Registrant and, in connection therewith, the Registrant
issued to ERBA Mannheim 600,000 shares of the Registrant&rsquo;s common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Second Amendment, which was unanimously
approved by the independent directors on the Registrant&rsquo;s Board of Directors, amended the Stock Purchase Agreement to increase
the number of shares of the Registrant&rsquo;s common stock issued and sold to ERBA Mannheim at the Second Closing and decrease
the number of shares of the Registrant&rsquo;s common stock to be issued and sold to ERBA Mannheim at the Final Closing. Specifically,
pursuant to the Second Amendment, the Registrant and ERBA Mannheim agreed that the Registrant would sell and issue to ERBA Mannheim,
and ERBA Mannheim would purchase from the Registrant: (i) 8,666,667 shares of the Registrant&rsquo;s common stock at the Second
Closing for an aggregate purchase price of $6,500,000, or $0.75 per share; and (ii) 4,666,666 shares of the Registrant&rsquo;s
common stock at the Final Closing for an aggregate purchase price of $3,500,000, or $0.75 per share. In addition, each of the Registrant
and ERBA Mannheim agreed in the Second Amendment to hold the Second Closing as promptly as practicable and, in connection therewith,
waive the above-described requirement that the Second Closing occur on the date that is 60 days after the date on which a majority
of the independent directors on the Registrant&rsquo;s Board of Directors determines by vote or written consent that the Second
Closing shall occur and causes the Registrant to provide notice thereof to ERBA Mannheim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Second Closing was held on October 3,
2012, at which time ERBA Mannheim paid the $6,500,000 aggregate purchase price to the Registrant and, in connection therewith,
the Registrant issued to ERBA Mannheim 8,666,667 shares of the Registrant&rsquo;s common stock. As described above, the Registrant
used all of the proceeds of the Second Closing to purchase the Shares of capital stock of Drew Scientific.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After giving effect to its purchase of the
shares of the Registrant&rsquo;s common stock at the Second Closing, ERBA Mannheim now owns, directly or indirectly, 35,959,647
shares of the Registrant&rsquo;s common stock, or approximately 82.4% of the issued and outstanding shares of such stock. Assuming
the purchase of the 4,666,666 shares of the Registrant&rsquo;s common stock at the Final Closing and the full exercise of the Warrant
to purchase the remaining 19,400,000 shares of the Registrant&rsquo;s common stock which may be purchased thereunder, ERBA Mannheim
would beneficially own, directly or indirectly, 60,034,713 shares of the Registrant&rsquo;s common stock, which would represent
approximately 88.7% of the issued and outstanding shares of such stock based on the number of shares currently outstanding and
the shares to be issued at the Final Closing and upon full exercise of the Warrant. As also previously disclosed, Suresh Vazirani,
executive Chairman of the Board of Directors of the Registrant, is the Chief Executive Officer and Managing Director of ERBA Mannheim,
and Kishore &ldquo;Kris&rdquo; Dudani, a member of the Registrant&rsquo;s Board of Directors, serves as the Marketing and Business
Development Representative &ndash; South, Central and Latin America of ERBA Mannheim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing description of the Stock Purchase
Agreement and the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the full text
of each exhibit filed herewith and incorporated herein by reference. Capitalized terms used in this Report but not defined herein
shall have the respective meanings assigned thereto in the Stock Purchase Agreement. The Stock Purchase Agreement and the Second
Amendment have been included to provide investors and stockholders with information regarding its terms. It is not intended to
provide any other factual information about the Company. The representations, warranties and covenants contained in the Stock Purchase
Agreement and the Second Amendment were made only for purposes of that agreement and as of specific dates, were solely for the
benefit of the parties thereto and may be subject to limitations agreed upon by the contracting parties, including qualification
by confidential disclosures exchanged between the parties in connection with the execution thereof. The representations and warranties
may have been made for the purposes of allocating contractual risk between the parties to the Stock Purchase Agreement and the
Second Amendment instead of establishing these matters as facts, and may be subject to contractual standards of &ldquo;materiality&rdquo;
and &ldquo;material adverse effect&rdquo; applicable to the contracting parties that differ from those applicable to investors
or under applicable securities laws. Investors are not third party beneficiaries under the Stock Purchase Agreement and the Second
Amendment and should not rely on the representations, warranties and covenants, or any descriptions thereof, as characterizations
of the actual state of facts or condition of the Company or any of its subsidiaries or affiliates. Moreover, information concerning
the subject matter of the representations, warranties and covenants may change after the date of the Stock Purchase Agreement and
the Second Amendment, which subsequent information may or may not be fully reflected in the Company&rsquo;s public disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item&nbsp;2.01 &ndash; Completion of Acquisition or Disposition
of Assets </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information included in the first paragraph
of Item 1.01 of this Report is incorporated by reference into this Item 2.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item&nbsp;3.02 &ndash; Unregistered Sales of Equity Securities</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information included in the second through
seventh paragraphs of Item 1.01 of this Report is incorporated by reference into this Item 3.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item&nbsp;9.01 &ndash; Financial Statements and Exhibits</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a) Financial Statements of Businesses Acquired: The financial
statements required to be filed under this Item&nbsp;9 shall be filed by an amendment to this Form 8-K not later than 71 days after
the date of this Current Report on Form 8-K is required to be filed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b) Pro Forma Financial Information: The pro forma financial
information required to be filed under this Item&nbsp;9 shall be filed by an amendment to this Form 8-K not later than 71 days
after the date of this Current Report on Form 8-K is required to be filed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">(d)</TD>
    <TD STYLE="text-decoration: underline"><U>Exhibits</U> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 6%; text-align: center">Exhibit<BR> No.</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 93%; text-align: center">Description</TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center">2.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Stock Purchase Agreement, dated as of October 3, 2012, by and among Escalon medical Corp., Drew Scientific, Inc. and ERBA Diagnostics, Inc.</TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center">10.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Second Amendment to Stock Purchase Agreement, dated as of October 3, 2012, by and between ERBA Diagnostics, Inc. and ERBA Diagnostics Mannheim GmbH</TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center">99.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Press Release, dated October 4, 2012, publicly announcing the actions reported herein</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SIGNATURES</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Date: October 5, 2012&nbsp;</TD>
    <TD STYLE="width: 50%">ERBA Diagnostics, Inc. &nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 50%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 4%">By:</TD>
    <TD NOWRAP STYLE="width: 46%; border-bottom: Black 1pt solid">/s/&nbsp;Kevin D. Clark</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 50%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 4%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 4%">&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;</TD>
    <TD NOWRAP STYLE="width: 42%">Kevin D. Clark,&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;&nbsp;&nbsp;&nbsp;Title:</TD>
    <TD NOWRAP>Chief Executive Officer,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>Chief Operating Officer<BR> and President&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 6; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "v325163_8k.htm", "description": "8-K", "secsgml_size_bytes": 27222}]
{"company-data": {"conformed-name": "ERBA Diagnostics, Inc.", "cik": "0001095858", "assigned-sic": "2834", "irs-number": "113500746", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14798", "film-number": "121131905"}, "business-address": {"street1": "2140 NORTH MIAMI AVENUE", "city": "MIAMI", "state": "FL", "zip": "33127", "phone": "305-324-2300"}, "mail-address": {"street1": "2140 NORTH MIAMI AVENUE", "city": "MIAMI", "state": "FL", "zip": "33127"}, "former-company": [{"former-conformed-name": "IVAX DIAGNOSTICS INC", "date-changed": "20010404"}, {"former-conformed-name": "B2BSTORES COM INC", "date-changed": "19990928"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report
October 3, 2012
(Date of earliest event reported)
ERBA Diagnostics, Inc.
(Exact name of registrant as specified in
its charter)
Delaware
1-14798
11-3500746
(State or other jurisdiction of
(Commission File Number)
(IRS Employer Identification No.)
incorporation or organization)
2140 North Miami Avenue
Miami, Florida
33127
(Address of principal executive
offices)
(Zip Code)
(305) 324-2300
(Registrant's telephone number, including
area code)
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):
¨
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 13e4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 – Entry into a Material Definitive
Agreement
On October 3, 2012 (the "Effective
Date"), ERBA Diagnostics, Inc., a Delaware corporation ("ERBA" or the "Registrant"), acquired all
of the issued and outstanding shares (the "Shares") of capital stock of Drew Scientific, Inc., a Delaware corporation
(together with its subsidiaries, "Drew Scientific" or the "Company"), from Drew Scientific Inc., a Texas
corporation (the "Seller"), a subsidiary of Escalon Medical Corp., a Pennsylvania corporation ("Escalon"),
pursuant to a Stock Purchase Agreement dated the Effective Date as entered into by and among, ERBA, Seller and Escalon (the "Stock
Purchase Agreement").
The purchase price paid by the Registrant
for the Shares (the "Purchase Price") was $6.5 million, which was funded through the purchase by ERBA Diagnostics Mannheim
GmbH ("ERBA Mannheim") from the Registrant of 8,666,667 shares of the Registrant's common stock at a purchase
price of $0.75 per share pursuant to the terms of that certain Stock Purchase Agreement, dated April 8, 2011, by and between the
Registrant and ERBA Mannheim, as amended on December 29, 2011 and October 3, 2012. Such Stock Purchase Agreement, as amended on
December 29, 2011, is hereinafter referred to as the "ERBA Mannheim Stock Purchase Agreement," and the October 3, 2012
amendment to the ERBA Mannheim Stock Purchase Agreement, the terms of which are discussed below, is hereinafter referred to as
the "Second Amendment."
As previously disclosed, pursuant to the
ERBA Mannheim Stock Purchase Agreement, the Registrant agreed to sell and issue to ERBA Mannheim, and ERBA Mannheim agreed to purchase
from the Registrant, a total of 20,000,000 shares of the Registrant's common stock at a purchase price of $0.75 per share
for an aggregate purchase price of $15,000,000 in the following manner: (i) 6,666,667 shares of the Registrant's common stock
for an aggregate purchase price of $5,000,000, upon the initial consummation of the Investment, which occurred on July 1, 2011
(the "Initial Closing"); (ii) 6,666,667 shares of the Registrant's common stock for an aggregate purchase price
of $5,000,000, after the Initial Closing and on the date that is 60 days after the date on which a majority of the independent
directors on the Registrant's Board of Directors determines by vote or written consent that the closing shall occur and causes
the Registrant to provide notice thereof to ERBA Mannheim (the "Second Closing"); and (iii) 6,666,666 shares of the
Registrant's common stock for an aggregate purchase price of $5,000,000, after or simultaneously with the Second Closing
and on the date that is 60 days after the date on which a majority of the independent directors on the Registrant's Board
of Directors determines by vote or written consent that the closing shall occur and causes the Registrant to provide notice thereof
to ERBA Mannheim (the "Final Closing").
Pursuant to the ERBA Mannheim Stock Purchase
Agreement, the Registrant also issued to ERBA Mannheim warrants to purchase an additional 20,000,000 shares of the Registrant's
common stock (the "Warrant") at an exercise price of $0.75 per share. During April 2012, ERBA Mannheim exercised, in
part, the Warrant by paying an aggregate exercise price of $450,000 to the Registrant and, in connection therewith, the Registrant
issued to ERBA Mannheim 600,000 shares of the Registrant's common stock.
The Second Amendment, which was unanimously
approved by the independent directors on the Registrant's Board of Directors, amended the Stock Purchase Agreement to increase
the number of shares of the Registrant's common stock issued and sold to ERBA Mannheim at the Second Closing and decrease
the number of shares of the Registrant's common stock to be issued and sold to ERBA Mannheim at the Final Closing. Specifically,
pursuant to the Second Amendment, the Registrant and ERBA Mannheim agreed that the Registrant would sell and issue to ERBA Mannheim,
and ERBA Mannheim would purchase from the Registrant: (i) 8,666,667 shares of the Registrant's common stock at the Second
Closing for an aggregate purchase price of $6,500,000, or $0.75 per share; and (ii) 4,666,666 shares of the Registrant's
common stock at the Final Closing for an aggregate purchase price of $3,500,000, or $0.75 per share. In addition, each of the Registrant
and ERBA Mannheim agreed in the Second Amendment to hold the Second Closing as promptly as practicable and, in connection therewith,
waive the above-described requirement that the Second Closing occur on the date that is 60 days after the date on which a majority
of the independent directors on the Registrant's Board of Directors determines by vote or written consent that the Second
Closing shall occur and causes the Registrant to provide notice thereof to ERBA Mannheim.
The Second Closing was held on October 3,
2012, at which time ERBA Mannheim paid the $6,500,000 aggregate purchase price to the Registrant and, in connection therewith,
the Registrant issued to ERBA Mannheim 8,666,667 shares of the Registrant's common stock. As described above, the Registrant
used all of the proceeds of the Second Closing to purchase the Shares of capital stock of Drew Scientific.
After giving effect to its purchase of the
shares of the Registrant's common stock at the Second Closing, ERBA Mannheim now owns, directly or indirectly, 35,959,647
shares of the Registrant's common stock, or approximately 82.4% of the issued and outstanding shares of such stock. Assuming
the purchase of the 4,666,666 shares of the Registrant's common stock at the Final Closing and the full exercise of the Warrant
to purchase the remaining 19,400,000 shares of the Registrant's common stock which may be purchased thereunder, ERBA Mannheim
would beneficially own, directly or indirectly, 60,034,713 shares of the Registrant's common stock, which would represent
approximately 88.7% of the issued and outstanding shares of such stock based on the number of shares currently outstanding and
the shares to be issued at the Final Closing and upon full exercise of the Warrant. As also previously disclosed, Suresh Vazirani,
executive Chairman of the Board of Directors of the Registrant, is the Chief Executive Officer and Managing Director of ERBA Mannheim,
and Kishore "Kris" Dudani, a member of the Registrant's Board of Directors, serves as the Marketing and Business
Development Representative – South, Central and Latin America of ERBA Mannheim.
The foregoing description of the Stock Purchase
Agreement and the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the full text
of each exhibit filed herewith and incorporated herein by reference. Capitalized terms used in this Report but not defined herein
shall have the respective meanings assigned thereto in the Stock Purchase Agreement. The Stock Purchase Agreement and the Second
Amendment have been included to provide investors and stockholders with information regarding its terms. It is not intended to
provide any other factual information about the Company. The representations, warranties and covenants contained in the Stock Purchase
Agreement and the Second Amendment were made only for purposes of that agreement and as of specific dates, were solely for the
benefit of the parties thereto and may be subject to limitations agreed upon by the contracting parties, including qualification
by confidential disclosures exchanged between the parties in connection with the execution thereof. The representations and warranties
may have been made for the purposes of allocating contractual risk between the parties to the Stock Purchase Agreement and the
Second Amendment instead of establishing these matters as facts, and may be subject to contractual standards of "materiality"
and "material adverse effect" applicable to the contracting parties that differ from those applicable to investors
or under applicable securities laws. Investors are not third party beneficiaries under the Stock Purchase Agreement and the Second
Amendment and should not rely on the representations, warranties and covenants, or any descriptions thereof, as characterizations
of the actual state of facts or condition of the Company or any of its subsidiaries or affiliates. Moreover, information concerning
the subject matter of the representations, warranties and covenants may change after the date of the Stock Purchase Agreement and
the Second Amendment, which subsequent information may or may not be fully reflected in the Company's public disclosures.
Item 2.01 – Completion of Acquisition or Disposition
of Assets
The information included in the first paragraph
of Item 1.01 of this Report is incorporated by reference into this Item 2.01.
Item 3.02 – Unregistered Sales of Equity Securities
The information included in the second through
seventh paragraphs of Item 1.01 of this Report is incorporated by reference into this Item 3.02.
Item 9.01 – Financial Statements and Exhibits
(a) Financial Statements of Businesses Acquired: The financial
statements required to be filed under this Item 9 shall be filed by an amendment to this Form 8-K not later than 71 days after
the date of this Current Report on Form 8-K is required to be filed.
(b) Pro Forma Financial Information: The pro forma financial
information required to be filed under this Item 9 shall be filed by an amendment to this Form 8-K not later than 71 days
after the date of this Current Report on Form 8-K is required to be filed.
(d)
Exhibits
Exhibit
No.
Description
2.1
Stock Purchase Agreement, dated as of October 3, 2012, by and among Escalon medical Corp., Drew Scientific, Inc. and ERBA Diagnostics, Inc.
10.1
Second Amendment to Stock Purchase Agreement, dated as of October 3, 2012, by and between ERBA Diagnostics, Inc. and ERBA Diagnostics Mannheim GmbH
99.1
Press Release, dated October 4, 2012, publicly announcing the actions reported herein
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.
Date: October 5, 2012
ERBA Diagnostics, Inc.
By:
/s/ Kevin D. Clark
Name:
Kevin D. Clark,
Title:
Chief Executive Officer,
Chief Operating Officer
and President