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GERIATRIC & MEDICAL COMPANIES, INC. ANNOUNCES COMPLETION OF $25 MILLION FUNDING FACILITY

 PHILADELPHIA, Nov. 4 /PRNewswire/ -- Geriatric & Medical Companies, Inc. (NASDAQ: GEMC) reported the completion of a $25 million accounts receivable funding facility, replacing the existing program prior to a January 31, 1994 expiration.
 Daniel Veloric, Chairman of the Board and President, stated, "The availability of a working capital source for a three year term has enabled the Company to avert a previously reported potential liquidity crisis. This will also support our efforts to reestablish relationships with various banks who are currently considering the Company's capital requirements and should have a positive effect on growth efforts by providing flexibility for future financing alternatives."
 Geriatric & Medical Companies, Inc., headquartered in Philadelphia, is a leading health care company providing pharmacy services, rehabilitation therapies, ambulance transportation, nursing home contract management and home health care services which include infusion, respiratory and medical equipment, to hospitals, HMOs, physician groups and long-term care facilities.
 -0- 11/4/93
 /CONTACT: James J. O'Malley, vice president and CFO, 215-748-8852 or Stan Froelich of Cameron Associates, 212-644-9560/
 (GEMC)


CO: Geriatric & Medical Companies, Inc. ST: Pennsylvania IN: HEA SU:

LG -- NY026 -- 0566 11/04/93 09:28 EST
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Publication:PR Newswire
Date:Nov 4, 1993
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