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GERANT INDUSTRIES INC. COMPLETES THE ACQUISITION OF AMERICAN BLOOD INSTITUTE TAKING 63 PERCENT CONTROL

 LOS ANGELES, Jan. 13 /PRNewswire/ -- Gerant Industries Inc. (NASDAQ: GENT) announced today the completion of the acquisition of American Blood Institute Inc., a privately held company. The funding requirements were completed with venture capital partners, Essex Capital Partners Ltd., Appex Capital Partners Ltd., The Peers Group, London, and others.
 American Blood Institute is involved in the collection of, and creation of, products from human blood. It is presently doing a volume of $8.5 million. It has a strong management team with extensive experience in health care. Current projections indicate volume moving to the $11 million range and profitable, in the words of Dr. Joseph Stone, chief executive officer, "The management of GENT has already given us sufficient guidance and brought management skills through the introduction of consultants, to turn around and grow this company."
 Daniel Lezak, president of GENT, indicates that this acquisition places the company into a large, and, for the most part, non- competitive market, with a great deal of potential. This growth will not be just domestic in nature, but include growth abroad. In fact, contracts are in place for establishing these clinics in the Ukraine. Lezak further indicated that the professionally staffed company will now avail itself of growth financing utilizing the public market place.
 -0- 1/13/93
 /CONTACT: Daniel Lezak, president of Gerant Industries, 310-277-8942/
 (GENT)


CO: Gerant Industries Inc.; American Blood Institute ST: California IN: MTC SU: TNM

MS-JB -- LA009 -- 4345 01/13/93 08:50 EST
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Publication:PR Newswire
Date:Jan 13, 1993
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