UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 10-Q

(Mark One)

[ X ]  QUARTERLY  REPORT  PURSUANT  TO  SECTION  13  OR  15(d) OF THE SECURITIES
       EXCHANGE ACT OF 1934

For the quarterly period ended             March 31, 1997
                                 -----------------------------------------------

                                       or

[   ] TRANSITION  REPORT  PURSUANT  TO  SECTION  13  OR  15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934

For the transition period from _______________________  to  ____________________

Commission File Number:  0-21214

                                ORTHOLOGIC CORP.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

  Delaware                                                86-0585310
--------------------------------------------------------------------------------
(State of other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)

  2850 S. 36th Street, #16, Phoenix, Arizona                            85034
--------------------------------------------------------------------------------
(Address of principal executive offices)                              (Zip Code)

                                 (602) 437-5520
--------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)


--------------------------------------------------------------------------------
(Former  name,  former  address and former  fiscal year,  if changed  since last
report)

   Indicate  by check mark  whether  the  registrant  (1) has filed all  reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days.
                                                          [X] Yes    [ ] No


                      APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date.

       25,069,346 shares of common stock outstanding as of April 30, 1997
<PAGE>
                                ORTHOLOGIC CORP.



                                      INDEX

                                                                        Page No.


Part I      Financial Information

            Item 1.   Financial Statements

            Condensed Consolidated Balance Sheets----------------------------- 1
               March 31, 1997 and December 31, 1996

            Consolidated Statements of Operation-------------------------------2
               Three Months ended March 31, 1997 and 1996

            Consolidated Statements of Cash Flows------------------------------3
               Three Months ended March 31, 1997 and 1996

            Notes to Consolidated Financial Statements-------------------- 4 - 5

            Item 2.  Management's Discussion and Analysis of Financial---- 6 - 8
                      Condition and Results of Operations


Part II     Other Information

            Item 1.   Legal Proceedings--------------------------------------- 9

            Item 2.   Changes in Securities----------------------------------- 9

            Item 6.   Exhibits and Reports on Form 8-K------------------------ 9
<PAGE>
                                OrthoLogic Corp.
                      Condensed Consolidated Balance Sheets
<TABLE>
<CAPTION>
                                                            March 31,        December 31,
                                                              1997               1996
                                                          -------------      -------------
                                                           (Unaudited)
<S>                                                       <C>                <C>          
ASSETS                                                     


Cash and cash equivalents                                 $  11,729,634      $  13,493,853
Short-term investments                                       16,642,730         35,306,989
Accounts receivable                                          32,578,196         26,856,144
Inventory                                                     9,544,447          6,551,382
Prepaids and other current assets                             1,944,915          1,194,679
Deferred income taxes                                         2,568,411          2,401,000
                                                          -------------      -------------
   Total current assets                                      75,008,333         85,804,047

Furniture, rental fleet and equipment                        13,526,994         11,364,295
Accumulated depreciation                                     (3,029,253)        (2,282,292)
                                                          -------------      -------------
  Furniture and equipment, net                               10,497,741          9,082,003

Intangibles, net                                             29,794,125         17,846,540
Deposits and other assets                                        91,045             93,112
Note receivable - Officer                                       200,000            200,000
                                                          -------------      -------------

   Total Assets                                           $ 115,591,244      $ 113,025,702
                                                          =============      =============

LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities

Accounts payable                                          $   3,628,786      $   2,041,943
Loan payable - current portion                                  500,000               --
Accrued liabilities                                           8,530,759          8,776,896
                                                          -------------      -------------
   Total current liabilities                                 12,659,545         10,818,839

Deferred rent and capital lease obligation                      300,945            279,929
Loan payable - long term portion                                875,000               --

Stockholders' Equity

Common stock                                                     12,533             12,509
Additional paid-in capital                                  118,944,618        118,832,041
Accumulated deficit                                         (17,201,397)       (16,917,616)
                                                          -------------      -------------
   Total stockholders' equity                               101,755,754        101,926,934
                                                          -------------      -------------

     Total Liabilities and Stockholders' Equity           $ 115,591,244      $ 113,025,702
                                                          =============      =============
</TABLE>
See notes to consolidated financial statements 
                                                                          Page 1
<PAGE>
                                OrthoLogic Corp.
                      Consolidated Statements of Operations
                                    Unaudited
<TABLE>
<CAPTION>
                                                            Three months ended
                                                                 March 31,
                                                            1997              1996
                                                       ------------      ------------
<S>                                                    <C>               <C>          
REVENUES
  Net sales                                            $  9,571,673      $  6,759,732 
  Net rentals                                             7,730,042              --   
                                                       ------------      ------------ 
    Total Revenues                                       17,301,715         6,759,732 
                                                       ------------      ------------ 
                                                                                      
COST OF REVENUES                                                                      
  Cost of goods sold                                      2,714,037         1,122,279 
  Cost of rentals                                         2,031,331              --   
                                                       ------------      ------------ 
    Total Cost of Revenues                                4,745,368         1,122,279 
                                                                                      
GROSS PROFIT                                             12,556,347         5,637,453 
                                                                                      
OPERATING EXPENSES                                                                    
  Selling, general and administrative                    12,889,498         4,424,148 
  Research and development                                  576,056           551,611 
                                                       ------------      ------------ 
   Total Operating Expenses                              13,465,554         4,975,759 
                                                       ------------      ------------ 
                                                                                      
OPERATING INCOME (LOSS)                                    (909,207)          661,694 
                                                                                      
OTHER INCOME (EXPENSE)                                                                
  Grant revenue                                              73,681            49,400 
  Interest Income                                           567,836           238,533 
  Interest expense                                           (5,400)             --   
                                                       ------------      ------------ 
    Total Other Income                                      636,117           287,933 
                                                       ------------      ------------ 
                                                                                      
INCOME (LOSS) BEFORE INCOME TAXES                          (273,090)          949,627 
                                                                                      
Provision for income taxes                                     --             (15,000)
                                                       ------------      ------------ 
                                                                                      
NET INCOME (LOSS)                                      $   (273,090)     $    934,627 
                                                       ============      ============ 
                                                                                      
NET INCOME (LOSS) PER COMMON SHARE                     $      (0.01)     $       0.04 
                                                       ============      ============ 
                                                                                      
WEIGHTED AVERAGE NUMBER OF                                                            
COMMON SHARES OUTSTANDING                                25,037,890        20,796,198 
                                                       ============      ============ 
</TABLE>
See notes to consolidated financial statements.
                                                                          Page 2
<PAGE>
                                OrthoLogic Corp.
                      Consolidated Statements of Cash Flows
                                    Unaudited
<TABLE>
<CAPTION>
                                                                           Three months ended
                                                                                March 31,
                                                                           1997             1996
                                                                      ------------      ------------
<S>                                                                   <C>               <C>         
OPERATING ACTIVITIES
   Net Earnings (Loss)                                             $   (273,090)     $    934,627
   Noncash items:
           Depreciation and amortization                              1,320,697            79,835
           Other                                                        (10,692)             --

   Net change in Other Operating items:
           Accounts receivable                                         (826,466)       (2,797,352)
           Inventory                                                   (418,821)         (380,204)
           Prepaids and other current assets                           (834,509)         (355,463)
           Deposits and other assets                                      2,068             7,200
           Accounts payable                                              39,927           367,075
           Accrued liabilities                                         (335,495)          189,036
                                                                   ------------      ------------

           Cash Flows used in Operating Activities                   (1,336,381)       (1,955,246)


INVESTING ACTIVITIES
          Purchase of fixed assets, net                               (532,026)         (177,889)
          Cash paid for acquisitions, net of other effects         (18,210,269)
          Purchases (Sales) of short term investments               18,664,259        (2,060,305)
          Intangible from dealer transactions                         (462,403)             --
                                                                   ------------      ------------

                      Cash Flows used in Investing Activities         (540,439)       (2,238,194)


FINANCING ACTIVITIES
          Net proceeds from stock option exercises                     112,601           475,329
                                                                   ------------      ------------

                      Cash Flows from Financing Activities             112,601           475,329


          Net Decrease in Cash & Cash Equivalents                   (1,764,219)       (3,718,111)
          Cash & Cash Equivalents, Beginning of Period              13,493,853         8,830,514
                                                                   ------------      ------------
          Cash & Cash Equivalents, End of Period                  $ 11,729,634      $  5,112,403
                                                                  ============      ============
</TABLE>
See notes to consolidated financial statements.
                                                                          Page 3
<PAGE>
                                ORTHOLOGIC CORP.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


1.    Financial Statement Presentation
      --------------------------------

      The  consolidated  financial  statements  have been prepared in accordance
      with generally accepted accounting  principles and include the accounts of
      the Company and its subsidiaries.  All significant  intercompany  accounts
      and transactions have been eliminated.

      The consolidated  balance sheet as of March 31, 1997, and the consolidated
      statements of  operations  and cash flows for the three months ended March
      31, 1997 and 1996 are  unaudited  however,  in the opinion of  management,
      include all adjustments  (consisting only of normal recurring adjustments)
      necessary  for a fair  presentation  of  financial  position,  results  of
      operations  and cash  flows.  The  results of  operations  for the interim
      periods are not  necessarily  indicative of the results to be expected for
      the complete fiscal year.

      Certain  information  and  footnote   disclosures   normally  included  in
      financial  statements  prepared  in  accordance  with  generally  accepted
      accounting principles have been condensed or omitted. It is suggested that
      these  financial  statements  be read in  conjunction  with the  financial
      statements and notes thereto included in the Company's 1996 Annual Report.

 2.   Earnings (Loss) Per Share
      --------------------------

      In February 1997, the Financial Accounting Standards Board ("FASB") issued
      Statement of Financial  Accounting  Standards  ("SFAS") No. 128, "Earnings
      per Share",  effective  for both interim and annual  periods  ending after
      December 15, 1997. This statement specifies the computation,  presentation
      and  disclosure  of earnings per share for  entities  with  publicly  held
      common  stock or  potential  common  stock.  The Company  will provide the
      required disclosures in their year-end report. The effect on the Company's
      earnings per share disclosure is not material for the periods presented.

3.    Preferred Stock Purchase Rights
      -------------------------------

      On February 25, 1997 the Company  declared a dividend  distribution of one
      Preferred Stock Purchase Right (the "Rights") for each  outstanding  share
      of the Company's common stock, payable March 12, 1997 to holders of record
      on that date. The Rights will expire on March 11, 2007.

      Each Right will entitle  shareholders  to buy 1/100 of a share of Series A
      Preferred Stock at an exercise price of $25.00.

      Initially, no separate Rights certificates will be distributed; the Rights
      will trade with the  Company's  common  stock and will not be  exercisable
      until the earlier of 10 business days following the  acquisition of 15% or
      more of the  Company's  common  stock by a person or group or 15  business
      days following the  commencement  of a tender offer for 20% or more of the
      Company's common stock.
                                                                          Page 4
<PAGE>
                                ORTHOLOGIC CORP.
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)


3.    Preferred Stock Purchase Rights (continued)
      -------------------------------------------

      At the discretion of the Board of Directors of the Company, the Rights can
      be  redeemed  at any time  prior to the  10th day  following  the date the
      Rights  become  exercisable.  If the Rights are not redeemed by the Board,
      and  the  Company  is  acquired,  holders  of the  Rights  (other  than an
      "acquiring  person")  will be entitled to  purchase  additional  shares of
      common stock of either the Company or the acquiring corporation (whichever
      survives) at one-half the market price.

 4.   Acquisitions
      ------------

      On March 3, 1997 and March 12, 1997, the Company  acquired  certain assets
      and assumed  certain  liabilities of Toronto  Medical Corp.  (Toronto) and
      Danninger  Medical  Technology,  Inc. (DMTI).  After paying certain of the
      assumed  liabilities,  the net cash outlay was approximately  $7.2 million
      for Toronto  and $11 million  for DMTI. Both  acquisitions  were accounted
      for as a purchase which resulted in goodwill of $4 million for Toronto and
      $7.7 million for DMTI. The goodwill is being amortized over 20 years.

      Management   plans  to  restructure   the  operations   related  to  these
      acquisitions  during the second and third quarter of 1997  including,  but
      not limited to, closing and/or  relocating  facilities and  terminating or
      relocating  certain  employees.  The  Restructuring  Plan will include the
      integration  of these  acquisitions.  Once the estimated  costs related to
      these  activities  are  determined,  they will be accrued and reflected as
      additional acquisition costs in the allocation of purchase price.

      Had the  Toronto  and DMTI  acquisitions  occurred  on  January  1,  1996,
      combined  unaudited pro forma results for the three months ended March 31,
      1997 and  1996, would have  been: net  revenues - $20.5 and $11.2 million;
      net earnings (loss) - $(336,000)  and $348,000;  net  earnings  (loss) per
      common share - $(0.01) and $0.02.

      The pro forma  amounts  disclosed  above  include  revenue  and net income
      derived from product sales to competing independent dealers of orthopaedic
      rehabilitation  products.  Subsequent  to  the  acquisition,  the  Company
      discontinued  selling  products  to these  dealers.  Excluding  the dealer
      product sales,  combined  unaudited pro forma results for the three months
      ended March 31, 1997 and 1996,  would have been:  net revenues-  $19.2 and
      $9.6 million; net earnings (loss) - $(764,000) and $121,000;  net earnings
      (loss) per common share - $(0.03) and $0.01.
                                                                          Page 5
<PAGE>
         MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                             RESULTS OF OPERATIONS


Results of Operations

              OrthoLogic has completed  three recent  acquisitions  which affect
              the  year-to-year  comparability  of  its  consolidated  financial
              position  and results of  operations:  the  acquisition  of Sutter
              Corporation  (Sutter)  on August 30, 1996 and the  acquisition  of
              certain  assets and the  assumption of certain  liabilities of two
              other orthopaedic rehabilitation related companies in March 1997.

              Revenues

              OrthoLogic's revenue increased 156% from $6.8 million in the first
              quarter  of 1996 to  $17.3  in the  first  quarter  of  1997.  The
              increase  in revenue was due  primarily  to growth in sales of the
              OrthoLogic  1000 product and to first  quarter sales in Sutter ($9
              million)  and the recently  acquired  operations  ($900,000).  The
              Company believes that revenues for its orthopaedic  rehabilitation
              products may be seasonal,  with the strongest  sales  occurring in
              the fourth quarter.

              Gross Profit

              Gross profit  increased  from $5.6 million in the first quarter of
              1996 to $12.6 million in the first  quarter of 1997.  Gross profit
              as a  percentage  of revenue  was 73% for the three  months  ended
              March 31, 1997  compared to 83% for the  comparable  period during
              1996. The overall gross profit percentage  declined as a result of
              the recently acquired orthopaedic  rehabilitation operations which
              have a lower gross profit  percentage than the Company's  fracture
              healing products.

              Selling, General and Administrative Expenses

              Selling, general and administrative (S,G&A) expenses for the first
              quarter  of 1997 were  $12.9  million,  up $8.5  million  from the
              comparable  1996 period.  The increase from 1996 is due to in part
              to the variable  costs  (commissions,  bad debts,  and  royalties)
              associated with the increased  revenue.  The first quarter of 1997
              also included the Sutter S,G&A,  which is a significant  component
              of total  S,G&A.  During late 1996,  the fixed  component of S,G&A
              increased due to the addition of employees,  including salespeople
              added to support the Company's transition to a direct sales force,
              and other  infrastructure  required  to support  the  growing  and
              projected revenue volume.

              OrthoLogic is currently  consolidating  facilities and eliminating
              expenses  from   redundant   operations   from  within  the  three
              businesses that were recently acquired.
                                                                          Page 6
<PAGE>
         MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                       RESULTS OF OPERATIONS (continued)


              Research  and Development

              Research and  development  (R&D)  expenses  were  $576,000 for the
              first quarter of 1997 compared to $552,000 for the comparable 1996
              period.  The  increase  in  R&D  expenses  was  due  to  the  1997
              acquisitions.

              Other Income

              Other Income of $636,000 for the first  quarter of 1997  consisted
              of interest income of $568,000 and grant revenue of $74,000 offset
              by interest  expense of $5,400.  Other  income for the  comparable
              1996 period  consisted  of interest  income of $239,000  and grant
              revenue of $49,400.  The 138% increase in interest  income was due
              to the  investment  of the $74  million in net  proceeds  from the
              Company's  April  1996  public  offering  of common  stock.  Grant
              revenue increased 51% because the Company was participating in two
              research  grant  projects in the first quarter of 1997 compared to
              only one project in the first quarter of 1996.

Liquidity and Capital Resources

              At March 31, 1997,  the Company had cash and  investments of $28.4
              million  compared to $48.8  million at December 31, 1996.  Working
              capital  decreased  from $75 million at December 31, 1996 to $62.3
              million at March 31, 1997. The decrease in cash and investments is
              primarily  the  result  of cash  used  for  acquisitions  of $18.2
              million.  Other uses of cash  included  $1.4 million for operating
              activities  and  $532,000  for the  purchase of fixed  assets.  In
              addition, the Company paid $462,000 to a former independent dealer
              for  the  return  of  territory  rights,  rights  to  hire  former
              independent  dealer sales  representatives  and  convenants not to
              compete, as the Company completes its transition to a direct sales
              force.

              The Company  currently  believes that cash  generated from product
              sales  and  rentals  and  its  available  cash  resources  will be
              sufficient to meet it current operating  requirements and internal
              development  and  integration   initiatives  for  the  foreseeable
              future. There can be no assurance,  however, that the Company will
              not require  additional  financing  in the future.  If the Company
              were required to obtain additional  financing in the future, there
              can be no assurance that such sources of capital will be available
              on terms favorable to the Company, if at all.

              The Company plans to relocate its corporate  offices in the fourth
              quarter of 1997. No lease has been signed related to this move.

              There are currently no other material  definitive  commitments for
              future use of the Company's  available  cash  resources;  however,
              management  continually  evaluates  opportunities  to  expand  its
              operations,  which includes  internal  development of new products
              and may include additional acquisitions.
                                                                          Page 7
<PAGE>
         MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                       RESULTS OF OPERATIONS (continued)


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

              Certain of the statements  contained in this document that are not
              historical facts,  including,  without  limitation,  statements of
              future  expectations,  projections  of results of  operations  and
              financial condition, statements of future economic performance and
              other forward-looking statements within the meaning of the Private
              Securities Litigation Reform Act of 1995, are subject to known and
              unknown risks, uncertainties and other factors which may cause the
              actual  results,  performance  or  achievements  of the Company to
              differ materially from those contemplated in such  forward-looking
              statements.  In  addition  to the  specific  matters  referred  to
              herein, important factors which may cause actual results to differ
              from  those  contemplated  in  such   forward-looking   statements
              include: (i) the results of the Company's efforts to implement its
              business strategy;  (ii) actions of the Company's  competitors and
              the Company's ability to respond to such actions; (iii) changes in
              governmental regulation, tax rates and similar matters; (iv) other
              risks detailed in the Company's other filings with the Commission;
              and (v) the costs and results of pending litigation.
                                                                          Page 8
<PAGE>
PART II - OTHER INFORMATION


Item 1.        Legal Proceedings

               See the information under the caption "Item 3 Legal  Proceedings"
               of the  Company's  10-K for the fiscal  year ended  December  31,
               1996.

Item 2.        Changes in Securities

               On February 21, 1997, the Company's Board of Directors declared a
               dividend  distribution of one Right for each outstanding share of
               Common Stock, par value $.0005 per share (a "Common  Share"),  of
               the Company to stockholders of record at the close of business on
               March 12, 1997, all as described in detail in the Company's Forms
               8-A and 8-K filed with the Securities and Exchange  Commission on
               March 6, 1997 which are  incorporated  herein by  reference.  The
               description  and  terms of the  Rights  are set forth in a Rights
               Agreement (the "Rights  Agreement")  between the Company and Bank
               of New York, as Rights  Agent.  Except as set forth in the Rights
               Agreement,  each Right entitles the registered holder to purchase
               from  the  Company  one  one-hundredth  of a share  of  Series  A
               Preferred Stock, par value $.0005 per share at a price of $25.00,
               subject to adjustment. The Purchase Price shall be paid in cash.

Item 6.        Exhibits and Reports on Form 8-K

                    (a)     See Exhibit Index following the signature page which
                            is incorporated herein by reference.

                    (b)     Reports on Form 8-K

                            1)  On March 6, 1997,  the  Company  filed a Current
                                Report on Form 8-K dated  February  21,  1997 to
                                report in Item 5, the Board's  declaration  of a
                                dividend  distribution  of Rights  described  in
                                Item 2 above.

                            2) On March 18,  1997,  the Company  filed a Current
                               Report on Form 8-K dated March 3, 1997, to report
                               in Item 2, the consummation of its acquisition of
                               substantially all the assets and business and the
                               assumption   of   substantially    all   of   the
                               liabilities of Toronto  Medical Corp., an Ontario
                               corporation,  pursuant  to a  Purchase  and  Sale
                               Agreement dated as of December 30, 1996.

                            3) On March 27,  1997,  the Company  filed a Current
                               Report on Form 8-K dated March 12, 1997 to report
                               in Item 2, the consummation of its acquisition of
                               certain  assets  and the  assumption  of  certain
                               liabilities   of   each  of   Danninger   Medical
                               Technology,    Inc.,   a   Delaware   corporation
                               ("DMTI"), and Danninger Healthcare, Inc., an Ohio
                               corporation and a wholly-owned subsidiary of DMTI
                               ("DHI,  and  together  with  DMTI,  "Danninger"),
                               pursuant to an Asset Purchase Sale Agreement (the
                               "Agreement") dated March 12, 1997.
                                                                          Page 9
<PAGE>
                                   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 thereunto duly authorized.


<TABLE>
<CAPTION>
Signature                                     Title                                Date
---------                                     -----                                ----



<S>                            <C>                                                <C> 
/s/ Allan M. Weinstein         Chairman of the Board of Directors and             May 15, 1997
----------------------         Chief Executive Officer      
Allan M. Weinstein             (Principal Executive Officer)
                               



/s/ Allen R. Dunaway           Vice-President and Chief Financial Officer         May 15, 1997
--------------------           (Principal Financial and Accounting Officer)
Allen R. Dunaway               
</TABLE>
                                                                         page 10
<PAGE>
                                ORTHOLOGIC CORP.
                 EXHIBIT INDEX TO QUARTERLY REPORT ON FORM 10-Q
                  FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1997
<TABLE>
<CAPTION>
   Exhibit                                                                          Incorporated by                    Filed
     No.                             Description                                     Reference to:                   Herewith
     ---                             -----------                                     -------------                   --------

<S>              <C>                                                    <C>                                              <C>
     2.1         Stock Purchase Agreement dated August 30, 1996 by       Exhibit 2.1 to the Company's Current
                 and among the Company, Sutter Corporation and Smith     Report on Form 8-K filed on September
                 Laboratories, Inc.                                      13, 1996

     2.2         Purchase and Sale Agreement dated as of December        Exhibit 2.1 to the Company's  
                 30, 1996 by and among the Company and                   Current Report on Form 8-K filed
                 Toronto Medical Corp., an Ontario                       on March 18, 1997 ("March 18, 
                 corporation                                             1997 8-K")

     2.3         Amendment to Purchase and Sale Agreement dated as       Exhibit 2.2 to March 18, 1997 8-K
                 of January 13, 1997 by and among the Company and
                 Toronto Medical Corp., an Ontario corporation

     2.4         Second Amendment to Purchase and Sale Agreement         Exhibit 2.3 to March 18, 1997 8-K
                 dated as of March 1, 1997 by and among the Company
                 and Toronto Medical Corp., an Ontario corporation

     2.5         Assignment of Purchase and Sale Agreement dated as      Exhibit 2.4 to March 18, 1997 8-K
                 of March 1, 1997 by and among the Company, Toronto
                 Medical Orthopaedics Ltd., a Canada corporation and
                 Toronto Medical Corp., an Ontario corporation

     2.6         Asset Purchase Agreement dated March 12, 1997 by        Exhibit 2.1 to the Company's 
                 and among the Company,  Danninger Medical               Current Report on Form 8-K filed 
                 Technology, Inc., a Delaware corporation,               on March  27,  1997
                 and Danninger Healthcare,  Inc., an
                 Ohio corporation

     3.1         Composite Certificate of Incorporation of the                                                           X
                 Company, as amended, including Certificate of 
                 Designation in respect of Series A Preferred
                 Stock

     3.2         Bylaws of the Company                                   Exhibit 3.4 to Company's Amendment
                                                                         No. 2 to Registration Statement on
                                                                         Form S-1 (No. 33-47569) filed with
                                                                         the SEC on January 25, 1993 ("January
                                                                         1993 S-1")
</TABLE>
<PAGE>
                                ORTHOLOGIC CORP.
                 EXHIBIT INDEX TO QUARTERLY REPORT ON FORM 10-Q
            FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1997 (continued)
<TABLE>
<CAPTION>
   Exhibit                                                                          Incorporated by                    Filed
     No.                             Description                                     Reference to:                   Herewith
     ---                             -----------                                     -------------                   --------
<S>              <C>                                                    <C>                                              <C>
     4.1         Articles 5, 9 and 11 of Certificate of                  Exhibit 3.1 above
                 Incorporation of the Company

     4.2         Articles II and III.2(c)(ii) of Bylaws of the           Exhibit 3.4 to January 1993 S-1
                 Company

     4.3         Specimen Common Stock Certificate                       Exhibit 4.1 to January 1993 S-1

     4.4         Stock Option Plan of the Company, as amended and        Incorporated by reference to Exhibit
                 approved by stockholders                                99.1 to the Company's Registration
                                                                         Statement on Form S-8 (No. 333-09785)
                                                                         filed with the SEC on August 8, 1996

     4.5         Stock Purchase Warrant, dated August 18, 1993,          Exhibit 4.6 to the Company's Form
                 issued to CyberLogic, Inc.                              10-K for the fiscal year ended
                                                                         December 31, 1994

     4.6         Stock Purchase Warrant, dated September 20, 1995,       Exhibit 4.6 to Company's Registration
                 issued to Registered Consulting Group, Inc.             Statement on Form S-1 (No. 33-97438)
                                                                         filed with the SEC on September 27,
                                                                         1995

     4.7         Stock Purchase Warrant, dated October 15, 1996,         Exhibit 4.7 to the Company's Form
                 issued to Registered Consulting Group, Inc.             10-K for the fiscal year ended
                                                                         December 31, 1996 ("1996 10-K")

     4.8         Rights Agreement dated as of March 4, 1997              Exhibit 4.1 to the Company's
                 between the Company and Bank of New York,               Registration Statement on Form 8-A
                 and Exhibits A, B and C thereto                         filed with the SEC on March 6, 1997

    10.1         1997 Officer Bonus Plan                                 Exhibit 10.13 to 1996 10-K

    10.2         Lease made March 1997 between Toronto Medical Corp.     Exhibit 10.34 to 1996 10-K
                 and Toronto Medical Orthopaedics Ltd.
</TABLE>
<PAGE>
                                ORTHOLOGIC CORP.
                 EXHIBIT INDEX TO QUARTERLY REPORT ON FORM 10-Q
            FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1997 (continued)
<TABLE>
<CAPTION>
   Exhibit                                                                          Incorporated by                    Filed
     No.                             Description                                     Reference to:                   Herewith
     ---                             -----------                                     -------------                   --------
<S>              <C>                                                    <C>                                              <C>

    10.3         Severance Agreement dated February 18, 1997 by and      Exhibit 10.39 to 1996 10-K
                 between George A. Oram, Jr. and the Company

    10.4         Employment Agreement by and between Allan M.                                                            X
                 Weinstein and the Company effective as of December
                 1, 1996

    10.5         Employment Agreement by and between Frank P. Magee                                                      X
                 and the Company effective as of December 1, 1996

    10.6         Employment Agreement by and between Allen R.                                                            X
                 Dunaway and the Company effective as of December 1,
                 1996

    10.7         Employment Agreement by and between James B.                                                            X
                 Koeneman and the Company effective as of December
                 1, 1996

    10.8         Employment Agreement by and between MaryAnn G.                                                          X
                 Miller and the Company effective as of December 1,
                 1996

    10.9         Employment Agreement by and between Nicholas A.                                                         X
                 Skaff and the Company effective as of December 1,
                 1996


     11          Statement of Computation of Net Income (Loss) per                                                       X
                 Weighted Average Number of Common Shares Outstanding

     27          Financial Data Schedule                                                                                 X
</TABLE>