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): December 28, 2004 ----------------- I-TRAX, INC. ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 001-31584 23-3057155 ---------------------- ------------------------ ---------------- (State or other jurisdiction of (Commission File Number) (IRS Employer incorporation) Identification No.) 4 Hillman Drive, Suite 130 Chadds Ford, Pennsylvania 19317 ---------------------------------------- ---------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (610) 459-2405 One Logan Square 130 N. 18th St., Suite 2615 Philadelphia, Pennsylvania 19103 ----------------------------------------------------- (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: [ ] 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)) Item 7.01 Regulation FD Disclosure. The following is I-trax, Inc.'s quarterly pro forma earnings before interest, taxes, depreciation and amortization, or EBITDA, information for the fiscal year ended December 31, 2003 and the nine month period ended September 30, 2004. The table provides a quarterly reconciliation of pro forma EBITDA to pro forma operating income for applicable periods. The EBITDA and operating income information gives effect to I-trax's acquisition of CHD Meridian Healthcare as though the transaction had occurred on January 1, 2003. The pro forma information excludes transaction costs of $1,938,000 and transaction related bonuses and termination pay of $832,000 included in CHD Meridian Healthcare's and I-trax's statements of operations, respectively. The pro forma results also include adjustments to amortization expense associated with the intangibles acquired and interest expense related to I-trax's credit facility obtained in connection with the acquisition. 2003 ------------------------------------------------------------------------ 31-Mar 30-Jun 30-Sep 31-Dec Total Consolidated ---------------------------------- Operating Income 573,000 (1,273,000) (370,000) (1,425,000) (2,495,000) Dep and Amort 1,254,000 1,283,000 1,211,000 1,155,000 4,903,000 ------------------------------------------------------------------------ EBITDA 1,827,000 10,000 841,000 (270,000) 2,408,000 Health Management Services (I-trax's historic business) ---------------------------------- Operating Income (821,000) (2,343,000) (1,540,000) (2,352,000) (7,056,000) Dep and Amort 872,000 876,000 875,000 819,000 3,442,000 ------------------------------------------------------------------------ EBITDA 51,000 (1,467,000) (665,000) (1,533,000) (3,614,000) On-Site Services (CHD Meridian's historic business) ---------------------------------- Operating Income 1,394,000 1,070,000 1,170,000 927,000 4,561,000 Dep and Amort 382,000 407,000 336,000 336,000 1,461,000 ------------------------------------------------------------------------ EBITDA 1,776,000 1,477,000 1,506,000 1,263,000 6,022,000 2004 ------------------------------------------------------- 31-Mar 30-Jun 30-Sep Total Consolidated ---------------------------------- Operating Income (264,000) (741,000) (447,000) (1,452,000) Dep and Amort 1,258,000 1,357,000 1,097,000 3,712,000 ------------------------------------------------------- EBITDA 994,000 616,000 650,000 2,260,000 Health Management Services (I-trax's historic business) ---------------------------------- Operating Income (1,309,000) (2,385,000) (2,500,000) (6,194,000) Dep and Amort 870,000 887,000 693,000 2,450,000 ------------------------------------------------------- EBITDA (439,000) (1,498,000) (1,807,000) (3,744,000) On-Site Services (CHD Meridian's historic business) ---------------------------------- Operating Income 1,045,000 1,644,000 2,053,000 4,742,000 Dep and Amort 388,000 470,000 404,000 1,262,000 ------------------------------------------------------- EBITDA 1,433,000 2,114,000 2,457,000 6,004,000 SIGNATURES Pursuant to requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. I-TRAX, INC. Date: December 28, 2004 By: /s/ Frank A. Martin ------------------------------------- Name: Frank A. Martin Title: Chief Executive Officer