SECURITIES AND EXCHANGE COMMISSION
              Washington, D.C.  20549

                    FORM 10-QSB
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
    OF THE SECURITIES EXCHANGE ACT OF 1934

          For the quarterly period ended
                 September 30, 2001
or

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR
     15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
     For the transition period from   to

          Commission file number    0-29695

            CALIPER ACQUISITION CORPORATION
        (Exact name of registrant as specified
                 in its charter)

Delaware                      52-2217568
(State or other jurisdiction   (I.R.S. Employer of
incorporation organization)     Or Identification No.)

      1504 R Street, N.W., Washington, D.C. 20009
(Address of principal executive offices  (zip code)

                    202/387-5400
(Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1)
filed all reports required to be filed by Section 13
or 15(d) of the Securities Exchange Act of 1934 during
the last 12 months (or for such shorter period that
the registrant was required to file such reports), and
(2) has been subject to such filing requirements for
the past 90 days.
                    Yes   X                  No

Indicate the number of shares outstanding of each of
the issuer's classes of common equity, as of the
latest practicable date.

Class             Outstanding at September 30, 2001
Common Stock,
par value $0.0001           5,000,000

                   PART I -- FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS

            CALIPER ACQUISITION CORPORATION
             (A Development Stage Company)
                As of September 30, 2001
                      (Unaudited)

<TABLE>
<CAPTION>
                         ASSETS

<S>                               <C>
Cash
                               $ 500
                                   -------
TOTAL ASSETS                      $ 500
                                   =======

LIABILITIES AND STOCKHOLDER'S EQUITY

LIABILITIES                       $  -
                                    -------
STOCKHOLDER'S EQUITY

Preferred Stock, $.0001 par value,
20,000,000 shares authorized,
none issued and outstanding           -
Common Stock, $.0001 par value,
100,000,000 shares authorized,
5,000,000 issued and outstanding     500
Additional paid-in capital           535
Deficit accumulated during
development stage                   (535)
                                     -------
Total Stockholder's Equity           500
                                     -------
TOTAL LIABILITIES AND
   STOCKHOLDER'S EQUITY              $500
                                  =======
</TABLE>
See accompanying notes to financial statements

<PAGE>

               CALIPER ACQUISITION CORPORATION
                (A Development Stage Company)
                   Statement of Operations
                         (Unaudited)
<TABLE>
<CAPTION>
             For the      For the      For the     For the    March24,
             Nine Months  Nine Months  3-Months    3-Months   1999
             Ended        Ended        Ended       Ended      (Inception)
             Sept 30,     Sept 30,     Sept 30,    Sept 30,   to Sept 30,
             2001         2000         2001        2000       2001

<S>          <C>          <C>          <C>         <C>        <C>
Income       $    -       $  -         $  -        $  -       $  -

Expenses
  Organization
    expense       -          -            -           -          535
               -------     -------     -------     -------     -------

Total expenses    -          -            -           -          535
               -------     -------     -------     -------     -------
NET LOSS          -          -            -           -         (535)
               =======     =======     =======     =======     =======
</TABLE>

                See accompanying notes to financial statements


<PAGE>

                        CALIPER ACQUISITION CORPORATION
                         (A Development Stage Company)
                 Statement of Changes in Stockholder's Equity
                For the Period From March 24, 1999 (Inception)
                             To September 30, 2001
                                 (Unaudited)
<TABLE>
<CAPTION>
<S>                 <C>         <C>        <C>         <C>             <C>
                                                       Deficit
                                                       Accumulated
                   Common Stock           Additional   During
                   Issued                 Paid-In      Development
                   Shares       Amount    Capital      Stage          Total

Common Stock
  Issuance         5,000,000    $ 500     $  -         $   -          $ 500

Fair value of
expenses contributed   -           -         535           -            535

Net loss for the periods ended:

December 31, 1999      -           -          -           (535)        (535)
December 31, 2000      -           -          -             -            -
September 30, 2001     -           -          -             -            -

BALANCE AT
Sept 30, 2001      5,000,000     $ 500      $535        $ (535)        $ 500
</TABLE>
             See accompanying notes to financial statements

<PAGE>

<TABLE>
<CAPTION>
                    CALIPER ACQUISITION CORPORATION
                     (A Development Stage Company)
                        Statements of Cash Flows
                               Unaudited

                           January 1, 2001     January 1, 2000    March 24, 1999
                           to                  to                 (Inception) to
                           Sept 30, 2001       Sept 30, 2000      Sept 30, 2001
<S>                        <C>                 <C>                 <C>

CASH FLOWS FROM OPERATING
    ACTIVITIES:
Net loss                    $      -             $  -                $    (535)
 Adjustment to reconcile net
 loss to net cash
 used by operating activities

 Contributed expenses              -                 -                     535
                              ----------          ------------        ----------
 Net cash used in operating
  activities                        -                 -                        -
                              ----------          ------------        ----------
CASH FLOWS FROM INVESTING
 ACTIVITIES                         -                 -                        -
                              ----------           ------------       ----------
CASH FLOWS FROM FINANCING  ACTIVITIES:

Proceeds from issuance of
 common stock                       -                  -                    500
                             ----------             ------------       ----------
Net cash provided by
 financing activities               -                   -                   500
                             ----------             ------------       ----------
INCREASE IN CASH AND CASH
 EQUIVALENTS                        -                   -                   500
CASH AND CASH EQUIVALENTS
 BEGINNING OF PERIOD              500                   500                 -
                             ----------              -----------       ----------
CASH AND CASH EQUIVALENTS
  END OF PERIOD               $   500                   500              $  500
                             ==========               ==========       ===========

</TABLE>
            See accompanying notes to financial statement.

<PAGE>

NOTE 1  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A.  Organization and Business Operations

     Caliper Acquisition Corporation (a development
stage company) ("the Company") was incorporated in
Delaware on March 24, 1999 to serve as a vehicle to
effect a merger, exchange of capital stock, asset
acquisition or other business combination with a
domestic or foreign private business. At September
30, 2001 the Company had not yet commenced any formal
business operations, and all activity to date relates
to the Company's formation.  The Company's fiscal
year end is December 31.

     The Company's ability to commence operations is
contingent upon its ability to enter into a business
combination with a prospective target business. [See
Note 5.]

B.  Use of Estimates

     The preparation of the financial statements
requires management to make estimates and assumptions
that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements
and the reported amounts of revenues and expenses
during the reporting period. Actual results could
differ from those estimates.

C.  Cash and Cash Equivalents

     For purposes of the statement of cash flows, the
Company considers all highly liquid investments
purchased with an original maturity of three months
or less to be cash equivalents.

D.  Income Taxes

     The Company accounts for income taxes under the
Financial Accounting Standards Board of Financial
Accounting Standards No. 109, "Accounting for Income
Taxes" ("Statement 109"). Under Statement 109,
deferred tax assets and liabilities are recognized
for the future tax consequences attributable to
differences between the financial statement carrying
amounts of existing assets and liabilities and their
respective tax basis. Deferred tax assets and
liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in
which those temporary differences are expected to be
recovered or settled.  Under Statement 109, the
effect on deferred tax assets and liabilities of a
change in tax rates is recognized in income in the
period that includes the enactment date. There were
no current or deferred income tax expense or benefits
due to the Company not having any material operations
for the period ending September 30, 2001.

NOTE 2  STOCKHOLDER'S EQUITY

        A.  Preferred Stock

     The Company is authorized to issue 20,000,000
shares of preferred stock at $.0001 par value, with
such designations, voting and other rights and
preferences as may be determined from time to time by
the Board of Directors.

        B.  Common Stock

     The Company is authorized to issue 100,000,000
shares of common stock at $.0001 par value.  At
inception, the Company issued 5,000,000 shares of its
common stock to TPG Capital Corporation ("TPG")
pursuant to Rule 506 for an aggregate consideration
of $500.

        C.  Additional Paid-In Capital

     Additional paid-in capital at September 30, 2001
represents the fair value of the amount of
organization and professional costs incurred by TPG
on behalf of the Company. (See Note 3)

NOTE 3  AGREEMENT

     On March 24, 1999, the Company signed an
agreement with TPG, a related entity (See Note 4).
The agreement calls for TPG to provide the following
services, without reimbursement from the Company,
until the Company enters into a business combination
as described in Note 1A:

        1.  Preparation and filing of required
documents with the Securities and Exchange
Commission.

       2.  Location and review of potential target
companies. [See Note 5.]

       3.  Payment of all corporate, organizational,
and other costs  incurred by the Company.

NOTE 4  RELATED PARTIES

     Legal counsel to the Company is a firm owned by
a  director of the Company who also owns a
controlling interest in the outstanding stock of TPG.
(See Note 3)

NOTE 5 POTENTIAL TARGET COMPANY

      The Company is in discussions concerning the
acquisition of a controlling interest in the equity
of a medical technology company.  The Company cannot
foresee what the final results of the discussions
will be and whether, in fact, this transaction will
be effected.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
    FINANCIAL CONDITION AND  RESULTS OF OPERATIONS

     The Company will attempt to locate and
negotiate with a business entity for the
combination of that target company with the
Company.  The combination will normally take the
form of a merger, stock-for-stock exchange or
stock-for-assets exchange (the "business
combination").  In most instances the target
company will wish to structure the business
combination to be within the definition of a
tax-free reorganization under Section 351 or
Section 368 of the Internal Revenue Code of 1986,
as amended.  No assurances can be given that the
Company will be successful in locating or
negotiating with any target business.

     The Company has not restricted its search for
any specific kind of businesses, and it may acquire
a business which is in its preliminary or
development stage, which is already in operation,
or in essentially any stage of its business life.
It is impossible to predict the status of any
business in which the Company may become engaged,
in that such business may need to seek additional
capital, may desire to have its shares publicly
traded, or may seek other perceived advantages
which the Company may offer.

     In implementing a structure for a particular
business acquisition, the Company may become a
party to a merger, consolidation, reorganization,
joint venture, or licensing agreement with another
corporation or entity.

     It is anticipated that any securities issued
in any such business combination would be issued in
reliance upon exemption from registration under
applicable federal and state securities laws.  In
some circumstances, however, as a negotiated
element of its transaction, the Company may agree
to register all or a part of such securities
immediately after the transaction is consummated or
at specified times thereafter.  If such
registration occurs, it will be undertaken by the
surviving entity after the Company has entered into
an agreement for a business combination or has
consummated a business combination.  The issuance
of additional securities and their potential sale
into any trading market which may develop in the
Company's securities may depress the market value
of the Company's securities in the future if such a
market develops, of which there is no assurance.

     The Company will participate in a business
combination only after the negotiation and
execution of appropriate agreements.  Negotiations
with a target company will likely focus on the
percentage of the Company which the target company
shareholders would acquire in exchange for their
shareholdings.  Although the terms of such
agreements cannot be predicted, generally such
agreements will require certain representations and
warranties of the parties thereto, will specify
certain events of default, will detail the terms of
closing and the conditions which must be satisfied
by the parties prior to and after such closing and
will include miscellaneous other terms.  Any merger
or acquisition effected by the Company can be
expected to have a significant dilutive effect on
the percentage of shares held by the Company's
shareholders at such time.

      The Company is in discussions concerning the
acquisition of a controlling interest in the equity
of a medical technology company.  The Company
cannot foresee what the final results of the
discussions will be and whether, in fact, this
transaction will be effected.


     PART II -- OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

     There are no legal proceedings against the
Company and the Company is unaware of such
proceedings contemplated against it.

ITEM 2.  CHANGES IN SECURITIES

     Not applicable.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

     Not applicable.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF
            SECURITY HOLDERS

     Not applicable.

ITEM 5.  OTHER INFORMATION

     Not applicable.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a)     Exhibits

     (b)     Reports on Form 8-K

     There were no reports on Form 8-K filed by the
Company during the quarter.


                     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.


CALIPER ACQUISITION CORPORATION

By:   /s/ James M. Cassidy
       President

Dated: November 14, 2001