ATRION CORP., FORMERLY ALATENN RESOURCES, STRENGTHENS ITS MEDICAL AND HEALTH CARE PRODUCTS BUSINESSES WITH ACQUISITION OF HALKEY-ROBERTS CORP.

FLORENCE, Ala.--(BUSINESS WIRE)--May 21, 1996--ATRION Corporation (Nasdaq/NM - ATRI) today announced that it has acquired Halkey-Roberts Corporation, a company that designs, manufactures and markets proprietary medical components, among other products, from Fenway Partners, Inc., a New York based private investment firm. This acquisition is another step in ATRION Corporation's strategy for growth and complements the Company's existing medical and health care products businesses. Since early 1994, ATRION Corporation (formerly known as AlaTenn Resources, Inc.) has purchased a company that designs and manufactures innovative medical devices and has formed a company to market a new less-invasive surgical product line.

The Company purchased all of the outstanding stock of Halkey-Roberts for $12 million in cash, subject to certain adjustments in the future. Halkey-Roberts, which is based in St. Petersburg, Florida, reported sales of $14.5 million for its most recent fiscal year ended September 30, 1995. For the year ended December 31, 1995, ATRION Corporation reported consolidated revenues of $80.4 million.

Jerry A. Howard, Chairman of the Board, President and Chief Executive Officer of ATRION Corporation noted that, "We are committed to pursuing opportunities for internal and external growth. Our acquisition of Halkey-Roberts represents one more step in fulfilling those goals. We anticipate that our existing health care and medical products businesses will benefit from the association with Halkey-Roberts and its strong presence in the medical components market."

Founded in 1941, Halkey-Roberts, a leader in all of its major markets, sells its proprietary components worldwide, with international sales accounting for approximately 25% of its total sales. Medical products developed and manufactured by Halkey-Roberts include valves, tubing clamps, closures and hand pumps which are all used to control the flow of fluids. In addition, Halkey-Roberts is the major supplier of inflators and valves used in life vests, rafts and other similar devices to the aviation and marine industries.

"Like Ryder International, one of our health care and medical products units, Halkey-Roberts works closely with its customers to produce innovative components," Howard continued. "Halkey-Roberts has a strong record of successfully capturing market share with its many and diverse products. Several new products which build on the company's proprietary technology are currently being developed. We believe that Halkey-Roberts represents a good strategic fit with our existing medical and health care products businesses and provides additional opportunities for growth for ATRION Corporation."

ATRION Corporation is a diversified holding company supplying its customers with innovative medical and health care products, pipeline and energy services and, with the acquisition of Halkey-Roberts, proprietary components for industrial markets.

CONTACT: ATRION Corp., Florence

George G. Petty, 205/383-3631