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Diagnostic Health Systems, a Comprehensive Medical Diagnostic Group Company Closes Financing.

Business Editors

JENKINTOWN, PA.--(BUSINESS WIRE)--Aug. 20, 2001

Comprehensive Medical Diagnostic Group Inc. (OTC BB:CMDI) CMDI, a leading provider of mobile diagnostic services and health and wellness programs, has arranged for its wholly owned subsidiary, Diagnostic Health Systems, Inc., to obtain working capital financing from The Pennsylvania Business Bank.

ZA Consulting acted as CMDI's financial advisor. Greg Lentz, a Managing Director at ZAC stated, "Closing this deal for financing with The Pennsylvania Business Bank will provide DHS with a strong banking relationship needed as they work toward achieving expansive growth."

Diagnostic Health Systems, Inc. (DHS), the headquarters of the diagnostic division of CMDI is located in Lakewood, New Jersey. DHS is a leading provider of mobile diagnostic services to long-term care and correctional facilities in New York, New Jersey, Pennsylvania, Tennessee, North Carolina, Texas and Illinois.

Frederic Brotz, President of Diagnostic Health Systems states, "We are very excited about obtaining these funds which will enable us to fortify the infrastructure and allow us to continue our pursuit in achieving a national presence in the mobile diagnostic industry".

About CMDI

Comprehensive Medical Diagnostics Group, Inc. was formed as a holding company for the purpose of acquiring other operating healthcare service businesses. The Company is a provider of medical treatment, diagnostic testing and ancillary services to the long-term health care business sector and the medical community at large.

Presently, the Company conducts its operations through its subsidiaries including Comprehensive Medical Group, Ltd., Diagnostic Management Group Holdings, Inc., and Diagnostic Health Systems, Inc.

Continuing its focus on mobile and ground based telemedicine technology, CMDI has become a leader in the long distance telemonitoring and diagnostic industry thus facilitating the delivery of rapid diagnostics and treatment data to the facilities and patients that use their services.

Statements regarding financial matter in this press release other than historical facts are "forward looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1995.

The company intends that such statements are about the Company's future expectations, including future revenues and earnings, an all other forward-looking statements are subject to the safe harbors created thereby.

Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, The Company's actual results may offer materially from expected results.
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Publication:Business Wire
Date:Aug 20, 2001
Words:391
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