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DIAMETRICS MEDICAL, INC., ANNOUNCES INITIAL PUBLIC OFFERING OF 2.3 MILLION SHARES OF COMMON STOCK

 ST. PAUL, Minn., Aug. 5 /PRNewswire/ -- Diametrics Medical, Inc.,(TM) announced today the initial public offering of 2.3 million shares of common stock at a price of $13 per share. All of the shares offered were sold by the company. Hambrecht & Quist Incorporated and Vector Securities International, Inc., are the lead underwriters.
 Net proceeds to the company from the offering will be used to increase manufacturing capacity; expand the sales and marketing organization; and fund new product research and development.
 Diametrics Medical, Inc. which began operating in 1990 is engaged in the development, manufacturing and marketing of a proprietary blood chemistry testing system that provides immediate diagnostic results at the patient point of care. The Company's IRMATM (Immediate Response Mobile Analysis) System performs three of the most frequently ordered blood chemistry tests for critical care patients -- the measurement of oxygen, carbon dioxide and acidity (pH) (the "blood gases").
 -0- 8/05/93
 /CONTACT: Michael F. Connoy, president & CEO, or Walter L. Sembrowich, Ph.D., co-chairman of the board, or David W. Deetz, co-chairman of the board, 612-639-8035, all of Diametrics Medical; Nancy Johnson, or John Mackay, 612-871-8877, both of Padilla Speer Beardsley, for Diametrics Medical/


CO: Diametrics Medical, Inc. ST: Minnesota IN: MTC SU: OFR

DB -- MN005 -- 9873 08/05/93 12:06 EDT
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Publication:PR Newswire
Date:Aug 5, 1993
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