Sparta moves to acquire Orion's operating assets:
This article was originally published in Clinica
Sparta Surgical has signed a non-binding letter of intent to acquire the operating assets of the privately-held company, Orion. Several conditions, including approval by Sparta's board of directors, must be met before the acquisition is complete, probably toward the end of December. The purchase price - for Orion Life Systems and its subsidiary, Orion Medical - will be about $3 million. Orion manufactures disposable products for urological, respiratory and IV therapy applications as well as undertaking contract manufacturing. The company had sales of $5.5 million in 1995.