Medical Industries of America's acquisition of Florida Physicians Internet to equal over $4.6 million in revenues.

BOYNTON BEACH, Fla.--(BUSINESS WIRE)--Nov. 4, 1996--As previously announced, Medical Industries of America Inc. (NASDAQ:MIOA,MIOAW) completed its acquisition of Florida Physicians Internet Inc. (FPII), a multi-group specialty medical practice located in Central Florida, and looks to realize a substantial increase in both revenue and earnings in the coming 12 months.

Currently, the practice as it stands will generate $2.4 million in revenue and $1 million in income. Dr. A. Razzak Tai, MD FACCP, ACCP, MRCP practices all aspects of Non-Invasive and Diagnostic Cardiology, Angiography, Nuclear and Internal Medicine. Moreover, he is Board Certified in Internal Medicine and Cardiovascular Diseases, a Fellow of the American College of Cardiology, a Fellow of the American College of Angiology and a Fellow of the Clinical Council of Cardiology of the American Heart Association. Known by his patients and the local press as "The Medicine Man," Tai's distinguished medical career spans nearly 30 years. His research papers have been extensively published in medical journals, and he also authored "The Heart Doctor's Heart Book," a book which received national acclaim in the 70's.

Arriving in Central Florida in 1977 from Connecticut, where he served as chief of Cardiology at St. Joseph Hospital, Tai opened his first Florida practice in Kissimmee and then expanded into Orlando. Tai's practice then multiplied to presently include seven offices located in Orange, Lake, Polk and Osceola counties and serves as a primary provider for the following managed care companies: PCA, Aetna, Champus Wellcare, Principal, One Source, Florida's Medipass program, and many others.

Now a wholly owned subsidiary of Medical Industries of America Inc., FPII plans to continue aggressively expanding operations through the addition of new physicians to the staff. Ron Riewold, VP of Medical Acquisitions, is currently meeting with over 40 doctors who have expressed a sincere interest in joining this already profitable group. Riewold stated, "We are very excited about the overwhelming interest that has come from local doctors and expect to sign a minimum of five additional doctors by the end of this year to work with Dr. Tai, our Medical Director, in the already existing clinics."

Harry Kobrin, president of Medical Industries of America stated that as part of the completed acquisition, FPII anticipates 1,000 cardiac cath procedures to be done in the company's new mobile cath lab due for delivery to FPII in Orlando by March 1997. Dr. Tai completed over 400 procedures himself during that last 12 months and has already added one additional Cardiologist to assist with the overflow of patients.

According to Robert Segarra, vice president of Operations of Medical Industries: "This is the first step towards the expansion of the mobile cardiac catheterization business, in that it marks the initial `marriage' between cath lab and a purchased physician practice. Based on the 1,000 procedures per year expected from the acquisition of FPII, the company will receive a minimum of $2.2 million in annual gross revenue and income of $1 million per year on Cath Lab No. 3."

Medical Industries of America Inc. provides diagnostic and therapeutic healthcare services to the surgical and medical community. The company supplies mobile cardiac catheterization services to hospitals, primarily in the State of Florida. Through its wholly owned subsidiaries, Florida Physicians Internet Inc. and Essential Care Medical Centers, the company operates multi-specialty medical group practices.

CONTACT: Medical Industries of America Inc.

Linda Moore, Senior Vice President

561/737-2227

or

Continental Capital & Equity Corp.

Dodi Zirkle, 407/875-1110