Lake Forest-based medical device maker I-Flow Corp. said Monday it’s selling its InfuSystem Inc. unit for $140 million to HAPC Inc., a New York-based company that was set up to buy another business.
InfuSystem rents infusion pumps and related products to cancer doctors.
The move frees I-Flow to focus on its main product On-Q, which delivers anesthesia to a targeted area in the days after surgery.
The sale is set to close later this year or in early 2007.
HAPC is a “blank check” company that raised money for investors with the ambition of buying and running another company.
