8-K

                       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): OCTOBER 17, 2002



                                   MEDJET INC.
             (Exact name of registrant as specified in its charter)



   DELAWARE                           1-11765                    22-3283541
(State or other                 (Commission File Number)      (I.R.S. Employee
jurisdiction of incorporation)                            Identification Number)



                     1090 KING GEORGES POST ROAD, SUITE 301
                            EDISON, NEW JERSEY 08837
               (Address of principal executive offices) (Zip Code)




Registrant's telephone number, including area code: 732-738-3990










ITEM 5.    OTHER EVENTS.

         The Registrant hereby incorporates by reference the contents of the
press release of the Registrant dated October 17, 2002, filed herewith as
Exhibit 99.1.

ITEM 7.    FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

           (c) Exhibits.

               99.1   Press Release of Medjet Inc. dated October 17, 2002.



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                                    SIGNATURE


         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.

                                            MEDJET INC.



Date: October 24, 2002               By:    /s/Eugene I. Gordon, Ph.D.
                                            -----------------------------------
                                            Eugene I. Gordon, Ph.D.
                                            Chairman of the Board and Chief
                                                Executive Officer

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                                  EXHIBIT INDEX

99.1              Press Release of Medjet Inc. dated October 17, 2002.


                                       4

EX-99

                                                                    EXHIBIT 99.1



                                                                    NEWS RELEASE



FOR IMMEDIATE RELEASE

              Medjet Announces Extension of R&D Agreement with Visx

                                  PRESS RELEASE

Edison, NJ - October 17, 2002 - Medjet Inc. (BB:MDJT) announced today that VISX,
a Cayman corporation and wholly-owned subsidiary of VISX, Incorporated, has
elected to extend the term of the Research, Development and Experimental Cost
Sharing Agreement by an additional nine month period to July 17, 2003 (although
VISX may terminate such agreement upon fifteen days notice during this nine
month period for any reason or no reason, and there can be no assurance that
VISX will not exercise its right to so terminate), in order to allow Medjet
additional time to pursue the research and development work associated with the
development of waterjet-related technology and products, including a waterjet
microkeratome. As a result of such extension, Medjet will continue to receive
monthly payments of a minimum of $100,000 from VISX while this agreement is in
effect. The election effectively extends to July 17, 2003 VISX's option to
elect to merge Orion Acquisition Corporation, a wholly-owned subsidiary of VISX,
Incorporated with Medjet or to terminate the Agreement and Plan of Merger and
Reorganization executed on August 17, 2001 with Medjet and Orion for any reason
or no reason. If VISX terminates the Research and Development Agreement prior
to July 17, 2003, the Merger Agreement will be deemed to be terminated on the
date of effectiveness of termination of the Research and Development Agreement.

Medjet Inc., located in Edison, New Jersey, is a medical device company with
the goal of developing, licensing, manufacturing and selling new cutting,
drilling, layer removal and shaping instruments for surgical procedures based
on its waterjet technology.

Statements that are not historical facts contained in this release are
forward-looking statements that involve risks and uncertainties. Such statements
include, but are not limited to, statements about the Company's products,
services and technology, and other statements that are not historical facts.
Such statements are based upon the current beliefs and expectations of the
management of the Company, and are subject to significant risks and
uncertainties. Actual results may vary materially from those contained in
forward-looking statements. The Company undertakes no obligation to update any
forward-looking statements.

For further information, contact Eugene Gordon of Medjet Inc., (732) 738-3990,
Ext 17, egordon@medjetinc.com