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/C L A R I F I C A T I O N -- GERANT INDUSTRIES/

 In LA009, "Gerant Industries Inc. Completes the Acquisition of American Blood Institute Taking 63 Percent Control," moved earlier today, we are advised by the company of changes to the news release. A new version follows:
 GERANT INDUSTRIES INC. COMPLETES THE ACQUISITION OF
 AMERICAN BLOOD INSTITUTE TAKING 63 PERCENT CONTROL
 LOS ANGELES, Jan. 13 /PRNewswire/ -- Gerant Industries Inc. (NASDAQ: GENT) announced today the completion of the acquisition of American Blood Institute Inc., a privately held company. The funding requirements were completed with venture capital partners, Essex Capital Partners Ltd., Appex Capital Partners Ltd., The Peers Group, London and others.
 American Blood Institute is involved in the collection of, and creation of, human blood products servicing the hospital and managed- care markets in California. Currently, ABI sales are at $8.5 million. ABI has a strong management team with extensive experience in health care. Current projections indicate volume moving to the $11 million range and profitable, in the words of Dr. Joseph Stone, chief executive officer, "The management of GENT has already given us sufficient guidance and brought management skills through the introduction of consultants, to turn around and grow the company."
 Daniel Lezak, president of GENT, indicates that this acquisition places the company into a large, and, for the most part, non- competitive market, with a great deal of potential. The company said it believes the inevitability of privatization in the blood services industry to be imminent with government looking to lessen its capital exposure to non-profit organizations. In a time when government is looking to the private sector as the natural progression to take an inefficient market (non-profit) and make it efficient.
 ABI's growth will not only be domestic in nature, but also include growth abroad. In fact, ABI has agreements in place for establishing similar blood-product sourcing clinics in the Ukraine. Lezak further indicated that the professionally staffed company will now avail itself of growth financing utilizing the public market place.
 -0- 1/13/93 C LA009
 /CONTACT: Daniel Lezak, president of Gerant Industries, 310-277-8942/
 /PRNewswire -- Jan. 13/
 (GENT)


CO: Gerant Industries Inc.; American Blood Institute ST: California IN: MTC SU: TNM

JL-EH -- LA009X -- 4502 01/13/93 14:43 EST
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Publication:PR Newswire
Date:Jan 13, 1993
Words:362
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