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\ue000
SECURITIES\ue000 AND\ue000 EXCHANGE\ue000 COMMISSION
WASHINGTON,\ue000 D.C.\ue000 20549
_________________
FORM\ue000 8-K
CURRENT\ue000 REPORT
Pursuant\ue000 to\ue000 Section\ue000 13\ue000 or\ue000 15(d)\ue000 of\ue000 the
Securities\ue000 Exchange\ue000 Act\ue000 of\ue000 1934
Date\ue000 of\ue000 report\ue000 (Date\ue000 of\ue000 earliest\ue000 event\ue000 reported):\ue000 \ue000 February\ue000 20,\ue000 2009
OPHTHALMIC\ue000 IMAGING\ue000 SYSTEMS
(Exact\ue000 Name\ue000 of\ue000 Registrant\ue000 as\ue000 Specified\ue000 in\ue000 its\ue000 Charter)
CALIFORNIA
1-11140
94-3035367
(State\ue000 or\ue000 Other\ue000 Jurisdiction\ue000 of
(Commission\ue000 File\ue000 Number)
(I.R.S.\ue000 Employer\ue000 Identification\ue000 No.)
Incorporation)
221\ue000 Lathrop\ue000 Way,\ue000 Suite\ue000 I
Sacramento,\ue000 California
\ue000
95815
(Address\ue000 of\ue000 Principal\ue000 Executive)
(Zip\ue000 Code)
(Registrant's\ue000 telephone\ue000 number,\ue000 including\ue000 area\ue000 code):\ue000 (916)\ue000 646-2020
\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000Not\ue000 Applicable\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000
(Former\ue000 Name\ue000 or\ue000 Former\ue000 Address,\ue000 if\ue000 Changed\ue000 Since\ue000 Last\ue000 Report)
\ue000
\ue000 Check\ue000 the\ue000 appropriate\ue000 box\ue000 below\ue000 if\ue000 the\ue000 Form\ue000 8-K\ue000 filing\ue000 is\ue000 intended\ue000 to\ue000 simultaneously\ue000 satisfy\ue000 the\ue000 filing\ue000 obligation\ue000 of\ue000 the\ue000 registrant\ue000 under
any\ue000 of\ue000 the\ue000 following\ue000 provisions\ue000 (see\ue000 General\ue000 Instruction\ue000 A.2.\ue000 below):
o
\ue000 Written\ue000 communications\ue000 pursuant\ue000 to\ue000 Rule\ue000 425\ue000 under\ue000 the\ue000 Securities\ue000 Act\ue000 (17\ue000 CFR\ue000 230.425)
o
\ue000 Soliciting\ue000 material\ue000 pursuant\ue000 to\ue000 Rule\ue000 14a-12\ue000 under\ue000 the\ue000 Exchange\ue000 Act\ue000 (17\ue000 CFR\ue000 240.14a-12)
o
\ue000 Pre-commencement\ue000 communications\ue000 pursuant\ue000 to\ue000 Rule\ue000 14d-2(b)\ue000 under\ue000 the\ue000 Exchange\ue000 Act\ue000 (17\ue000 CFR\ue000 240.14d-2(b))
o
\ue000 Pre-commencement\ue000 communications\ue000 pursuant\ue000 to\ue000 Rule\ue000 13e-4(c)\ue000 under\ue000 the\ue000 Exchange\ue000 Act\ue000 (17\ue000 CFR\ue000 240.13e-4(c))
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Item\ue000 7.01.
\ue000Regulation\ue000 FD\ue000 Disclosure
\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000On\ue000 February\ue000 20,\ue000 2009,\ue000 the\ue000 Registrant\ue000 issued\ue000 the\ue000 press\ue000 release\ue000 attached\ue000 hereto\ue000 as\ue000 Exhibit\ue000 99.1.
Item\ue000 9.01.
\ue000Financial\ue000 Statements\ue000 and\ue000 Exhibits.
(d)
\ue000 Exhibits
\ue000
Exhibit\ue000 Number
\ue000 Description
\ue000
99.1
\ue000Press\ue000 Release\ue000 of\ue000 the\ue000 Registrant\ue000 dated\ue000 February\ue000 20,\ue000 2009.
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SIGNATURES
\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000Pursuant\ue000 to\ue000 the\ue000 requirements\ue000 of\ue000 the\ue000 Securities\ue000 Exchange\ue000 Act\ue000 of\ue000 1934,\ue000 as\ue000 amended,\ue000 the\ue000 Registrant\ue000 has\ue000 duly\ue000 caused\ue000 this\ue000 report\ue000 to\ue000 be\ue000 signed
on\ue000 its\ue000 behalf\ue000 by\ue000 the\ue000 undersigned\ue000 hereunto\ue000 duly\ue000 authorized.
Date:\ue000 February\ue000 23,\ue000 2009
OPHTHALMIC\ue000 IMAGING\ue000 SYSTEMS

By:\ue000 \ue000 /s/\ue000 Ariel\ue000 Shenhar\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000
Name:\ue000 Ariel\ue000 Shenhar
Title:\ue000 \ue000 \ue000 Chief\ue000 Financial\ue000 Officer

\ue000
\ue000
\ue000
OPHTHALMIC\ue000 IMAGING\ue000 SYST EMS
\ue000
\ue000
221\ue000LATHROP\ue000WAY,\ue000SUITE\ue000I
\ue000
\ue000
SACRAMENTO,\ue000 CA\ue000 95815
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OPHTHALMIC\ue000 IMAGING\ue000 SYSTEMS\ue000 COMMENTS\ue000 ON\ue000 POTENTIAL\ue000 IMPACT\ue000 OF
U.S.\ue000 GOVERNMENT\u2019S\ue000 STIMULUS\ue000 PACKAGE\ue000 ON\ue000 ELECTRONIC\ue000 HEALTH\ue000 RECORDS\ue000 MARKET
-\ue000 -\ue000 -
\ue000
SACRAMENTO,\ue000 Calif.,\ue000 February\ue000 20,\ue000 2009\ue000--\ue000 Ophthalmic\ue000 Imaging\ue000 Systems\ue000 (OIS)\ue000 (OTC\ue000 BB:\ue000 OISI)\ue000 and\ue000 Abraxas\ue000 Medical\ue000 Solutions,\ue000 Inc.,\ue000 a

wholly-owned\ue000 subsidiary\ue000 of\ue000 OIS\ue000 and\ue000 a\ue000 provider\ue000 of\ue000 state\ue000 of\ue000 the\ue000 art\ue000 Electronic\ue000 Health\ue000 Record\ue000 (EHR)\ue000 solution,\ue000 commented\ue000 on\ue000 a\ue000 portion\ue000 of\ue000 the American\ue000 Recovery\ue000 and\ue000 Reinvestment\ue000 Act\ue000 of\ue000 2009,\ue000 the\ue000 U.S.\ue000 Government\u2019s\ue000 stimulus\ue000 package\ue000 (the\ue000 \u201cStimulus\ue000 Package\u201d),\ue000 that\ue000 pertains\ue000 to healthcare\ue000 IT.

\ue000

Estimates\ue000 released\ue000 by\ue000 the\ue000 Congressional\ue000 Budget\ue000 Office\ue000 on\ue000 February\ue000 13,\ue000 project\ue000 that\ue000 over\ue000 $20\ue000 billion\ue000 will\ue000 be\ue000 spent\ue000 on\ue000 financial\ue000 incentives\ue000 for doctors\ue000 who\ue000 become\ue000 meaningful\ue000 users\ue000 of\ue000 a\ue000 certified\ue000 EHR\ue000 solution\ue000 by\ue000 2015\ue000 (see\ue000 http://www.oisi.com/HR1/CBO.pdf\ue000 for\ue000 more\ue000 information). Physicians\ue000 who\ue000 implement\ue000 a\ue000 solution\ue000 and\ue000 become\ue000 meaningful\ue000 users\ue000 between\ue000 2010\ue000 and\ue000 2012\ue000 will\ue000 be\ue000 eligible\ue000 for\ue000 $44,000\ue000 each\ue000 in\ue000 incentive payments,\ue000 and\ue000 physicians\ue000 who\ue000 become\ue000 meaningful\ue000 users\ue000 between\ue000 2012\ue000 and\ue000 2014\ue000 will\ue000 be\ue000 eligible\ue000 for\ue000 lower\ue000 payments.\ue000 Physicians\ue000 who\ue000 have\ue000 not become\ue000 meaningful\ue000 users\ue000 by\ue000 2014\ue000 will\ue000 not\ue000 qualify\ue000 for\ue000 any\ue000 payments.\ue000 Additional\ue000 information\ue000 on\ue000 this\ue000 portion\ue000 of\ue000 the\ue000 Stimulus\ue000 Plan\ue000 is\ue000 available\ue000 at http://www.oisi.com/HR1/HR1.pdf.

\ue000

\u201cWe\ue000 believe\ue000 the\ue000 portion\ue000 of\ue000 the\ue000 Stimulus\ue000 Package\ue000 that\ue000 offers\ue000 incentives\ue000 to\ue000 users\ue000 for\ue000 utilizing\ue000 a\ue000 certified\ue000 EHR\ue000 solution\ue000 has\ue000 tremendous\ue000 potential to\ue000 rapidly\ue000 increase\ue000 the\ue000 user\ue000 base\ue000 of\ue000 EHR\ue000 solutions\ue000 and\ue000 improve\ue000 the\ue000 quality\ue000 of\ue000 care\ue000 and\ue000 efficiency\ue000 of\ue000 our\ue000 healthcare\ue000 system.\ue000 While\ue000 many medical\ue000 professionals\ue000 recognize\ue000 the\ue000 advantages\ue000 that\ue000 EHR\ue000 solutions\ue000 offer\ue000 their\ue000 businesses\ue000 and\ue000 patients,\ue000 the\ue000 market\u2019s\ue000 adoption\ue000 of\ue000 these solutions\ue000 has\ue000 been\ue000 slow,\u201d\ue000 stated\ue000 Gil\ue000 Allon,\ue000 CEO\ue000 of\ue000 Ophthalmic\ue000 Imaging\ue000 Systems.\ue000 \u201cWe\ue000 are\ue000 pleased\ue000 that\ue000 the\ue000 Stimulus\ue000 Package\ue000 requires professionals\ue000 to\ue000 be\ue000 meaningful\ue000 users\ue000 of\ue000 an\ue000 EHR\ue000 solution\ue000 within\ue000 the\ue000 next\ue000 five\ue000 years\ue000 and\ue000 that\ue000 the\ue000 solutions\ue000 must\ue000 be\ue000 certified.\ue000 We\ue000 believe\ue000 that these\ue000 requirements\ue000 will\ue000 ensure\ue000 that\ue000 our\ue000 health\ue000 system\ue000 will\ue000 receive\ue000 the\ue000 biggest\ue000 gains\ue000 in\ue000 efficiency\ue000 through\ue000 guaranteed\ue000 interoperability\ue000 and system\ue000 use.\u201d

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