SECURITIES AND EXCHANGE COMMISSION
Washington, DC
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: December 2, 1999
SPARTA SURGICAL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-11047 22-2870438
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(State of other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
Olsen Centre
2100 Meridian Park Blvd., Concord, CA 94520
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (925) 417-8812
not applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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On November 23, 1999, the Registrant signed a non-binding letter of intent
to purchase all or substantially all of the assets of Home Med-Equip Co. ("Home
Med-Equip") subject to several conditions, including approval by Sparta's Board
of Directors and the determination by Sparta that the results of its due
diligence investigation of Home Med-Equip's business and assets are
satisfactory.
The letter of intent provides for a purchase price of $2,500,000 consisting
of Cash, Note and Common Stock. For the Fiscal Year Ended 7/31/99, Home
Med-Equip reported sales of approximately $2,300,000. Home Med-Equip, a
privately held company, is basin in Concord, California. The Company's Durable
Medical Equipment ("DME") products have been providing service to patients and
referral sources for over 17 years. Home Med-Equip offers a complete line of
Respiratory and Oxygen related products.
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.
Date: December 2, 1999 SPARTA SURGICAL CORPORATION
(Registrant)
By: /s/ Thomas F. Reiner
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Thomas F. Reiner
Chairman of the Board
President & CEO
