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UNITY HEALTHCARE HOLDING COMPANY FILES FOR REORGANIZATION

 UNITY HEALTHCARE HOLDING COMPANY FILES FOR REORGANIZATION
 NEW YORK, Jan. 30 /PRNewswire/ -- Unity Healthcare Holding Company, Inc. (NASDAQ: UNTYZ) today announced that it and a subsidiary, Unity Care Services, Inc., have filed for reorganization under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York.
 The company also reported the execution of agreements to sell substantially all of the assets of its operating subsidiaries (excluding cash and accounts receivable) for $850,000 and the obtaining of interim financing from North Fork Bank & Trust Company. Those agreements and arrangements are subject to Bankruptcy Court and certain regulatory approvals.
 The company estimates that the realizable value of its assets plus its accounts receivable are approximately $1.7 million. The company has liabilities exceeding $2. million.
 The company is principally engaged in providing temporary healthcare personnel, including registered and licensed practical nurses and respiratory therapists to hospitals, nursing homes, extended care facilities and in-home patients. Unity also operates a home health care Medicare agency in Florida through another wholly owned subsidiary, Unity Home care of Florida, Inc.
 -0- 1/30/92
 /CONTACT: Fred Nicholas, president, or Jesse Ulezalka, chief financial officer of Unity Healthcare Holding Company, 212-687-5060/
 (UNTYZ) CO: Unity Healthcare Holding Company, Inc. ST: New York, Florida IN: HEA SU: BCY


CK-OS -- NY100 -- 5383 01/30/92 15:38 EST
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Publication:PR Newswire
Date:Jan 30, 1992
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