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GERIATRIC & MEDICAL COMPANIES, INC. TRANSFERS MANAGEMENT RESPONSIBILITIES OF THE COBBS CREEK NURSING CENTER

 PHILADELPHIA, Feb. 11 /PRNewswire/ -- Geriatric & Medical Companies, Inc. (NASDAQ: GEMC), today announced that Presbyterian Medical Center Foundation has reached an agreement with the owner of Cobbs Creek Nursing Center to manage the facility and ultimately arrange a purchase.
 GMS Management, Inc., a subsidiary of Geriatric & Medical Companies, Inc., assisted the facility's owner and Presbyterian by cooperating with the Pennsylvania Department of Health to develop and implement a plan which would avoid a threatened cut-off of federal funds. The Foundation, at its discretion, will continue the services of other subsidiaries of Geriatric & Medical Companies, Inc.
 During the past several months, GMS Management, Inc., a subsidiary of Geriatric & Medical Companies, Inc., has been the subject of an investigation by the Commonwealth of Pennsylvania Attorney General. As a result, there has been a high level of media attention to charges raised concerning the Cobbs Creek Nursing Center and the Care Pavilion of Walnut Park, two facilities not owned by the company but managed by GMS Management, Inc.
 Management of Geriatric & Medical Companies, Inc., said it is duly concerned about the allegations but noted that the company is confident it has committed no crimes and that any adverse findings in the two cases will not have a material impact on the company or its subsidiaries.
 Geriatric & Medical Companies, Inc.'s GeriMed Services Group and United Health Care Services Group are leading providers of health care products and services to hospitals, HMO's, physician groups and long- term care facilities.
 -0- 2/11/93
 /CONTACT: James J. Wankmiller, Esq., of Geriatric & Medical Companies, 215-748-8823; or Stan Froelich of Cameron Associates, 212-644-9560, for Geriatric & Medical Companies/
 (GEMC)


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

GK-LR -- NY058 -- 5757 02/11/93 13:44 EST
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Publication:PR Newswire
Date:Feb 11, 1993
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