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ASSOCIATED HEALTHCARE INDUSTRIES, INC. AND CONTOUR FABRICATORS, INC. ANNOUNCE COMPLETION OF MERGER

 CLEARWATER, Fla., May 6 /PRNewswire/ -- Associated Healthcare Industries, Inc. (OTC Bulletin Board: AHII) and Contour Fabricators, Inc. announce the completion of their merger. The merger is deemed a reverse acquisition of AHII by the Contour Group. The Contour Group represents Contour Fabricators, Inc. of Michigan and Contour Fabricators of Florida. (Jointly CFI) The CFI companies are manufacturers of disposable medical products and had combined sales of approximately $4 million in 1992 with adjusted net pre-tax profits of approximately $1 million. The acquisition terms include $2 million in cash and $6 million AHII Preferred Stock. The two CFI operations will be maintained as wholly owned subsidiaries of AHII.
 The CFI management has assumed control of the board of directors of Associated Healthcare Industries, Inc. and will continue management of daily operations. Management intends to continue to develop new marketing approaches for its current line of products which are primarily focused on the hospital markets. New product development is underway and will focus on the high growth nursing home and home health care markets. The expanded product lines and additional marketing are expected to generate higher sales and profits in 1993.
 AHII has secured a $6 million firm Commitment Letter of Intent with VTR Capital of Denver. A registration statement for this secondary offering is expected to be filed within 45 days. AHII is filing the required 8-K report with the SEC detailing the acquisition terms under the completed agreement. All required SEC filings for 1992 and 1993 are expected to be filed in the near term bringing AHII into compliance with their SEC reporting requirements.
 -0- 5/6/93
 /CONTACT: Joseph L. DuRant of Associated Healthcare Industries, 813-573-3312/
 (AHII)


CO: Associated Healthcare Industries, Inc.; Contour Fabricators, Inc. ST: Florida, Michigan IN: HEA SU: TNM

JB-AW -- FL011 -- 5515 05/06/93 13:46 EDT
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Publication:PR Newswire
Date:May 6, 1993
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