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GV MEDICAL REPORTS 1991 RESULTS

 GV MEDICAL REPORTS 1991 RESULTS
 MINNEAPOLIS, March 4 /PRNewswire/ -- GV Medical, Inc.,


(NASDAQ: GVMI) today reported revenue of $866,019 for the year ended Dec. 31, 1991, down from $1,733,383 in the previous year. The company recorded a loss of $3,893,276, equal to 75 cents per share, compared with a loss in 1990 of $7,972,101, equal to $1.55 per share.
 For the fourth quarter, the company reported revenue of $49,618, compared with $143,741 in the final quarter of 1990. The net loss in the 1991 quarter was $1,144,188, equal to 22 cents per share, compared with a loss of $3,235,254, equal to 63 cents per share, in the 1990 fourth quarter.
 The 1990 year and fourth quarter contained special charges of $2,419,931 and $1,859,834, respectively, related to the company's decision to reduce its work force and concentrate its resources on the development of a new-generation laser system.
 "Losses were essentially cut in half during 1991 as a result of cost control and our decision to focus on the new system," said James R. Grabek, president and CEO. "With our recent infusion of new funding, we plan to move ahead as quickly as possible with continued clinical trials of the new system at the Cleveland Clinic."
 Grabek said doctors have completed 14 procedures in which the new system, which incorporates both diagnostic and therapeutic features, has performed as designed. "We are encouraged by results so far," Grabek said. "We have proved that the system's diagnostic features work, and that it will remove plaque from clogged arteries. Now, we're in the process of collecting data to determine whether it also has a positive effect on restenosis -- the tendency of cleared arteries to develop new blockages -- which is the leading problem in angioplasty today."
 GV Medical, based in Minneapolis, is currently working with the Massachusetts Institute of Technology and the Cleveland Clinic to develop a new laser system that incorporates both diagnostic and therapeutic features to remove plaque from blocked coronary arteries. The company's existing LASTAC(R) laser system is awaiting approval from the U.S. Food and Drug Administration for use in coronary arteries and already has been approved for use in peripheral arteries.
 GV MEDICAL, INC.
 Three months ended Year ended
 12/31/91 12/31/90 12/31/91 12/31/90
 Revenue $49,618 $143,741 $866,019 $1,733,383
 Cost of products
 sold 388,662 376,555 883,286 2,321,845
 Expenses:
 Research and
 development 311,023 712,539 2,100,962 2,487,729
 Selling, general
 and administrative 511,667 503,795 2,013,698 2,927,311
 Special items -- 1,859,834 -- 2,419,931
 Less interest and
 other income (17,546) (73,728) (238,651) (451,332)
 Total expenses 805,144 3,002,440 3,876,009 7,383,639
 Net loss $(1,144,188) $(3,235,254) $(3,893,276) $(7,972,101)
 Net loss per share $(0.22) $(0.63) $(0.75) $(1.55)
 Weighted average
 common shares 5,224,985 5,154,587 5,212,919 5,152,729
 -0- 3/4/92
 /CONTACT: Curt Swenson of Swenson Falker Eilertsen Inc., 612-371-0000 or James R. Grabek of GV Medical, Inc., 612-559-4000/
 (GVMI) CO: GV Mecical, Inc. ST: Minnesota IN: MTC SU: ERN


KH -- MN003 -- 4843 03/04/92 09:47 EST
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Date:Mar 4, 1992
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