Baxter Healthcare Corporation v. O.R. Concepts, Inc.
Court of Appeals for the Seventh Circuit
1Opinion of the Court
CUMMINGS, Circuit Judge.
In early 1992, Baxter Healthcare Corporation (“Baxter”) and O.R. Concepts, Inc. (“O.R.”) entered into an agreement that obligated Baxter to purchase from O.R. at least $3 million of Thermadrape over a 27-month period. Later that year the president of O.R. and others sold 95% of O.R.’s stock to Vital Signs, Inc. (“Vital Signs”), a competitor of Baxter.
On May 10, 1994, Baxter brought suit against O.R. seeking a declaratory judgment that, because of the sale of O.R. stock and the sale of Thermadrape to other purchasers, O.R. had (1) breached its contract with Baxter; (2)…
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