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MEDIQ EXTENDS DEADLINE FOR CONSENTS

 PENNSAUKEN, N.J., July 1 /PRNewswire/ -- MEDIQ Incorporated (AMEX: MED) extended the deadline from July 1, 1993, to July 15, 1993, for consents on a proposed amendment to the indenture.
 MEDIQ had previously distributed to the holders of its 7-1/4 percent subordinated convertible debentures due 2006 a consent solicitation to amend the indenture. The amendment is sought in connection with the previously announced distribution of 100 percent of the stock of Mental Health Management, Inc. to MEDIQ stockholders on the basis of one share of Mental Health Management, Inc. stock for each eight shares of MEDIQ common or preferred stock.
 The proposed amendment would reduce the conversion price for MEDIQ common stock from $10.55 per share to $7.50 or less based upon the formula contained in the indenture. The proposed amendment would also clarify a provision of the indenture relating to the amount of dividends which may be paid by the company to permit the distribution of the stock of Mental Health Management, Inc.
 MEDIQ provides products and services to hospitals, nursing homes, healthcare professionals and consumers. Its principal activities are the rental of critical care and life support equipment to hospitals, nursing homes and sub-acute care providers and providing mobile ultrasound and nuclear medicine services to physicians and small hospitals and portable x-ray services to nursing homes. MEDIQ's common stock (MED), preferred stock (MED.pr) and convertible debentures (MED.C) trade on the American Stock Exchange.
 Mental Health Management, Inc. is a leader in the development and management of mental healthcare programs for general acute care hospitals.
 /delval/
 -0- 7/1/93
 /CONTACT: Michael F. Sandler, senior vp-finance of MEDIQ, 609-665-9399/
 (MED)


CO: MEDIQ Incorporated; Mental Health Management, Inc. ST: New Jersey IN: HEA SU:

JM-CC -- PH040 -- 7954 07/01/93 17:13 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
Words:298
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