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CBL MEDICAL ANNOUNCES IT AND ITS AFFILIATED PHYSICIAN GROUPS UNIT HAVE ENTERED INTO AN AGREEMENT WITH HELLER FINANCIAL

CBL MEDICAL ANNOUNCES IT AND ITS AFFILIATED PHYSICIAN GROUPS UNIT
 HAVE ENTERED INTO AN AGREEMENT WITH HELLER FINANCIAL
 LOS ANGELES, July 28 /PRNewswire/ -- CBL Medical Inc. (NASDAQ: CBLM, CBLMW) announced today it and its affiliated Physician Groups have entered into an agreement with the Health Care Financial Services Division of Heller Financial Inc. for a $10 million revolving line of credit secured by their accounts receivable. The revolver will be used to liquidate the existing credit facility and provide CBL and its affiliated Physician Groups with substantially increased working capital.
 Robert Mishkin, CBL's chief executive officer, stated, "The interest rate on the new line is tied to prime and will provide substantial savings to the company. Also, the additional working capital should enable us to finance our growth. In addition to the financing, Heller is providing an advanced receivables management system and other support which will enable us to more efficiently manage our operations and allow for growth without a commensurate increase in staff."
 CBL manages 10 medical centers, four Work Simulation Centers and one Center for Vocational Rehabilitation Services.
 -0- 7/28/92
 /CONTACT: Daryl L. Salrin of CBL Medical, 310-788-5845/
 (CBLM CBLMW) CO: CBL Medical Inc.; Heller Financial Inc. ST: California IN: HEA SU:


EH-JL -- LA015 -- 3954 07/28/92 10:00 EDT
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Publication:PR Newswire
Date:Jul 28, 1992
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