UNITED STATES 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): February 27, 1997 U.S. MEDICAL PRODUCTS, INC. (Exact name of Registrant as specified in its charter) TEXAS 74-2599718 (State of incorporation) (IRS Employer Identification No.) 1-12954 (Commission File Number) 12201 Technology Boulevard, Suite 100, Austin, Texas (Address of principal executive offices) Registrant's telephone number: (512) 257-8787 This document consists of 3 pages of which this is page 1. Item 1. Changes in Control of Registrant None Item 2. Acquisition or Disposition of Assets None Item 3. Bankruptcy or Receivership Not applicable Item 4. Changes in Registrant's Certifying Accountants None Item 5. Other Events US Medical Products, Inc. ("USMP") (BSE-UMP, USMD, USMD/U, USMD/W), located at 12201 Technology Blvd., Austin, Texas, has entered into negotiations to sell a majority of its assets to Hayes Medical, Inc. (Sacramento, California). These assets include implant and instrument inventories, property and equipment, patents and regulatory approvals. In addition to the assumption of certain liabilities, Hayes Medical will pay USMP using a combination of cash, royalties and a secured note. At the same time, USMP has entered into merger negotiations with Metrax Medical, Inc. (Delaware Corporation), Metrax Medical, Inc. is a privately held company that develops, manufactures and internationally distributes professional medical products and consumer wellness products. Metrax Medical Inc. owns 100% of Metrax GmbH, a 24 year old German based medical products company with annual sales of over $16 million. Metrax Medical Inc. also owns approximately 80% of the outstanding common stock of USMP. Item 6. Resignations of Registrant's Directors None Item 7. Financial Statements and Exhibits None Item 8. Changes in Fiscal Year Not Applicable 2 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. U.S. Medical Products, Inc. Registrant /s/ Fred Mindermann --------------------------------- Fred Mindermann Acting Chief Executive Officer 3