NuMED Home Health Care, Inc. reports financial results for first quarter fiscal 1997.

INDEPENDENCE, Ohio--(BUSINESS WIRE)--Aug. 13, 1996--NuMED Home Health Care, Inc. ("NuMED") (Nasdaq/Small Cap: "NUMD" & "NUMDW") announced today its first quarter fiscal 1997 results.

Net revenues for the three months ended June 30, 1996 increased by 16% or $898,000 to $6,424,675 from $5,526,192 in the same period one year ago. Despite the increase in net revenues, the Company experienced a net loss of $154,228, or $.03 per share for the first quarter as compared to net income of $72,794, or $.01 per share, for the same period one year ago.

Commenting on the Company's financial results, Jugal K. Taneja, Chief Executive Officer, stated, "Earnings were primarily impacted by temporarily diminished efficiencies attributable to the Company's rehabilitation therapy operations occurring as a result of the reorganization of existing personnel. In addition, the Company wrote off legal and professional fees incurred as a result of unsuccessful negotiations with CCF Heath Care Ventures, Inc. regarding its proposal to purchase 80% of NuMED which negatively impacted first quarter financial results.

Susan J. Carmichael, NuMED's President, stated that, "The Company has established new managed care relationships for its home health care operations and long-term staffing contracts for NuMED Rehabilitation, Inc. Management is looking forward to these new relationships in addition to the implementation of information management technology in the coming fiscal year. We are looking forward to putting behind us the burden of certain non-recurring items that impacted the Company's first quarter financial performance."

NuMED Home Health Care, Inc. is headquartered in Clearwater, Florida and operates eight wholly-owned subsidiaries providing home health care services and temporary nursing staffing in selected markets in Florida, Ohio, and Pennsylvania and contract rehabilitation staffing of physical and occupational therapists and speech/language pathologists in selected markets in Ohio, Pennsylvania, Illinois, Indiana, Kentucky, Maryland and New Jersey. -0-

              NuMED Home Health Care & Subsidiaries
               Selected Consolidated Financial Data

                         Three Months Ended
                              June 30,
                            (Unaudited)

Operating Data             1996      1995

Net Revenues            $6,424,675  $5,526,192
Net income (loss)        ($154,228)    $72,794
Net income per share         ($.03)       $.01
Shares used in
 per share information   4,967,712   4,885,828

Balance Sheet Data    June 30, 1996   March 31, 1996

Current assets           7,784,609   8,035,053
Total assets            13,177,059  13,521,081
Current liabilities      2,501,651   2,681,275
Total liabilities        3,138,307   3,340,302
Stockholders' equity    10,038,752  10,180,779
Book value per share         $2.02       $2.08
Common Shares Outstanding 4,974,196  4,898,914
(excluding treasury shares)

CONTACT: NuMED Home Health Care, Inc.

Jugal K. Taneja, Chief Executive Officer

Daniel C. Rose, General Counsel

[phone]

Susan J. Carmichael, President, COO

[phone]

or

The Equity Group Inc.

Terry Hosmer [phone]

Robert D. Goldstein [phone]