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ABBEY HEALTHCARE GROUP INCORPORATED REPURCHASES COMMON STOCK FROM NWE CAPITAL CORP. AND SUBSIDIARIES

 COSTA MESA, Calif., Dec. 28 /PRNewswire/ -- Abbey Healthcare Group Incorporated (NASDAQ-NMS: ABBY) announced today that the company has repurchased 1,105,558 shares of its common stock from NWE Capital Corp. (formerly VenTech Healthcare Corporation Inc.) and two of its subsidiaries at $10.50 per share. The aggregate purchase price amounted to approximately $11.6 million. These shares represent all of the common stock of the company owned by NWE Capital Corp. (formerly VenTech Healthcare Corporation Inc.) and its subsidiaries. The transaction was financed by the company with a portion of the proceeds from the recently completed 6.5 percent convertible subordinated debenture offering.
 Abbey is one of the largest national providers of home healthcare services and products, providing a broad range of respiratory therapy services, home medical rehabilitation equipment and infusion therapy services.
 -0- 12/28/92
 /CONTACT: Richard Rapp, VP and CFO of Abbey Healthcare Group Incorporated, 714-957-2000; or Bill Coffin of Financial Relations Board, 818-783-2400, for Abbey Healthcare/
 (ABBY)


CO: Abbey Healthcare Group Incorporated; NWE Capital Inc. ST: California IN: HEA SU:

EH -- LA016 -- 9985 12/28/92 09:37 EST
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Publication:PR Newswire
Date:Dec 28, 1992
Words:184
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