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):
March 12, 1997
SPARTA SURGICAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-11047 22-2870438
(State or other juris- (Commission (I.R.S. Employer
diction of incorporation) File Number) ID. Number)
Bernal Corporate Park
7068 Koll Center Parkway, Pleasanton, CA 94566
(Address of principal executive offices)
Registrant's telephone number, including area code (510)417-8812
not applicable
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
On March 12, 1997, the Registrant settled an arbitration action initiated
by Tecnol Medical Products, Inc. ("Tecnol") before the American Arbitration
Association in San Francisco, California, Case No. 74Y 181 01129 allegedly
involving claims arising out of Tecnol's purchase of the Registrant's medical
product line by Tecnol in December 1995. Under the settlement agreement Tecnol
agreed to pay to Sparta $575,000 in consideration of the cancellation by the
Registrant of a $665,000 note due from Tecnol and the dismissal with prejudice
of the arbitration action by both parties.
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 hereunto duly authorized.
SPARTA SURGICAL CORPORATION
(Registrant)
By: Thomas F. Reiner
Thomas F. Reiner, Chairman of
the Board, President & CEO
Dated: March 25, 1997