MINNEAPOLIS, Nov. 26 /PRNewswire-FirstCall/ -- Sterion Incorporated , a Minneapolis-based developer, manufacturer and marketer of medical products, today announced that its newly-formed subsidiary, LifeSafe Services, Inc., has completed the acquisition of substantially all the assets of Jacksonville, Florida-based SOS International, Inc. a subsidiary of Cleveland-based Complient Corporation. Specific terms of the cash transaction were not disclosed. SOS International is one of the nation's leading providers of emergency oxygen units to the commercial marketplace. SOSI currently serves over 4,000 corporate and government customers with over 9,000 leased oxygen units.
Kenneth Brimmer, CEO of Sterion said, "This acquisition represents an excellent opportunity to build on a track record of over 20 years of service to an outstanding base of blue-chip customers. We look forward to growing the business which we expect will be an immediate contributor to our positive cash flow."
Sterion Incorporated, headquartered in Minnesota, develops, manufactures, assembles and markets single-use disposable medical supplies and medical surgical devices. The company also provides contract manufacturing services under an exclusive contract to produce surgical instrument sterilization containers and related disposable supplies.
Sterion's common stock is traded on the Nasdaq SmallCap Market under the symbol "STEN." More information about Sterion is available on the Company's website at http://www.sterion.com/ .
Except for historical information contained herein, the disclosures in this news release are forward-looking statements which could be affected by certain risks and uncertainties, and actual results may differ materially, depending on a variety of factors. These risks are described in the Company's Annual Report on Form 10-KSB for the year ended September 30, 2002.
CONTACT: Kenneth Brimmer, CEO of Sterion Incorporated, +1-763-755-9516