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HENLEY INTERNATIONAL ANNOUNCES PROPOSED ACQUISITION OF KIRSCHNER MEDICAL

HENLEY INTERNATIONAL ANNOUNCES PROPOSED ACQUISITION OF KIRSCHNER MEDICAL
 SUGAR LAND, Texas, June 11 /PRNewswire/ -- Henley International, Inc. (AMEX: HEN) announced today that on June 10, 1992 it entered into a letter of intent to merge Kirschner Medical Corporation (NASDAQ: KMDC) into Henley or a subsidiary in exchange for the issuance to Kirschner shareholders of 0.92 shares of Henley common stock for each share of Kirschner stock. There are approximately 2,493,000 shares of Kirschner common stock outstanding, and options and warrants to purchase approximately 440,000 shares.
 Consummation of the merger is subject to, among other contingencies, negotiation of a definitive merger agreement on or prior to June 25, 1992, ongoing due diligence, approval by the board of directors and shareholders of each company and the principal lender of Kirschner, and registration with the Securities and Exchange Commission of the shares to be issued to Kirschner shareholders.
 Kirschner Medical Corporation designs, develops, manufactures and markets a broad range of orthopedic products and video endoscopy systems used for minimally invasive surgical procedures.
 Henley International, Inc. develops, manufactures and markets a diversified range of specialty hospital products and physical medicine products.
 -0- 6/11/92
 /CONTACT: Lynn Morgen or Robert Borchert of Morgen-Walke Associates, 212-986-5900, for Henley/
 (HEN KMDC) CO: Henley International, Inc.; Kirschner Medical Corp. ST: Texas IN: HEA SU: TNM


GK-TS -- NY009 -- 9085 06/11/92 08:36 EDT
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Publication:PR Newswire
Date:Jun 11, 1992
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