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1992 HEALTHCARE EARNINGS GROWTH TUMBLES 35 PERCENT OVER '91 -- STOCKS DOWN 10 PERCENT FOR '92

 HILTON HEAD, S.C., Jan. 18 /PRNewswire/ -- In a report released today by WDI Capital Markets, the year to date earnings of over 550 healthcare companies reported through this date increased 9 percent. WDI's published 1992 Healthcare Industry Report, which is divided into six major groups and 33 market segments, reported the earnings growth rate considerably off 1991's 13.9 percent gain and 1990's exceptional 30.5 percent increase. Revenues increased 14 percent over 1991, but trailed 1990's growth by 17 percent.
 Healthcare Industry Share Prices declined 10.6 percent with almost across the board declines for the majority of segments. As a comparison, the Nasdaq composite gained 15.5 percent, S&P 500 4.5 percent and the Dow Jones Industrial Average 4.2 percent.
 WDI's Medical Device Group, consisting of 13 segments, experienced strong growth with earnings up 28 percent and revenues up 17 percent. However, for 1992, Group Share Prices declined 9.0 percent, with 9 of 13 segments experiencing declines.
 WDI's Hospital Products and Supplies Group had earnings growth of 14 percent on a revenue increase of 11 percent. Share prices rose a modest 3.2
percent. Earnings for WDI's Providers Group, consisting of nine segments, declined 8 percent on a 17 percent increase in revenues. Share prices rose .2 percent in 1992. Managed Care led all segments in 1992 with a 60.3 percent increase for the year. Hospital stocks lost 6.4 percent with Out-Patient companies declining 33.1 percent. The Home Health Segment dropped 30 percent due to the home infusion markets battle with pricing pressures.
 Share prices for the Pharmaceutical Segment, one of the industry mainstays, declined 17.2 percent on earnings growth of 7 percent, compared with 1991's earnings growth of 12.1 percent and 1990's 33.2 percent growth. Biotechnology stocks slid 30 percent.
 WDI's Major Healthcare Groups include: Hospital Products and Supplies, Medical Devices, Providers, Services, Pharmaceuticals and the Biotechnology Group.
 WDI's Healthcare Industry Report analyzes the four year financial performance of the Industry from 1988 to 1991 and provides reported 1992 fiscal year to date revenues/earnings and share price performance through 12/31/92.
 WDI Capital Markets is a specialized investment banking firm exclusively serving the healthcare industry with offices in the United States and Europe.
 To obtain more information on WDI Capital Markets 1992 Healthcare Industry Report contact: John W. Cumming, President, Telephone 803-363-2088; Telefax 803-363-2089.
 -0- 1/18/93
 /CONTACT: John W. Cumming, WDI Capital Markets, 803-363-2088/


CO: WDI Capital Markets ST: South Carolina IN: HEA SU: ERN

MM -- CH004 -- 5833 01/18/93 10:47 EST
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Date:Jan 18, 1993
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