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NEUROMEDICAL TECHNOLOGIES, INC. ENTERS INTO JOINT VENTURES TO DEVELOP REFERENCE LABORATORY BUSINESS

 NEUROMEDICAL TECHNOLOGIES, INC. ENTERS INTO JOINT VENTURES
 TO DEVELOP REFERENCE LABORATORY BUSINESS
 HERNDON, Va., Oct. 23 /PRNewswire/ -- Neuromedical Technologies, Inc. (NASDAQ: NMTI) has negotiated contracts with several individuals to develop hospital-based reference laboratories, announced President Phillip D. Green.
 The agreements allow for Neuromedical Technologies to develop and market joint ventures with hospitals that have an interest in starting or enlarging their reference laboratory business.
 According to Green, Neuromedical Technologies has obtained a loan in the amount of $820,000 to provide funding for the business venture. The loan is payable within two years at a rate of prime plus four percent.
 The development of the patented medical technology, Neurotherapy, continues to be NMTI's core business designed to generate the company's first significant revenues. NMTI is funded by borrowings from a major stockholder and other sources.
 -0- 10/23/92
 /CONTACT: Lisa Falk or Jim O'Connell of Hank Meyer Associates, 305-576-5700, for Neuromedical Technologies, Inc./
 (NMTI) CO: Neuromedical Technologies, Inc. ST: Florida IN: HEA SU: JVN


JB-AW -- FL005 -- 4214 10/23/92 13:56 EDT
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Publication:PR Newswire
Date:Oct 23, 1992
Words:174
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