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ALCO HEALTH SERVICES ANNOUNCES FILING FOR PUBLIC OFFERING BY ALCO HEALTH DISTRIBUTION CORPORATION

 ALCO HEALTH SERVICES ANNOUNCES FILING
 FOR PUBLIC OFFERING BY ALCO HEALTH DISTRIBUTION CORPORATION
 MALVERN, Pa., April 10 /PRNewswire/ -- Alco Health Services Corporation has announced the filing by Alco Health Distribution Corporation of a registration statement on April 8, 1992, with the Securities and Exchange Commission for a proposed initial public offering of 7.5 million shares of Class A common stock of Alco Health Distribution Corporation.
 Alco Health Services Corporation is the wholly owned subsidiary of Alco Health Distribution Corporation.
 According to John McNamara, chairman, president and chief executive officer of Alco Health Services Corporation, "The offering price of the common stock is expected to be between $13 and $16 a share." Smith Barney Harris Upham & Co. Incorporated, Lazard Freres & Co., and Morgan Stanley & Co. Incorporated will managed the underwriting group.
 The net proceeds from the sale of the common stock will be used to retire debt, pay down borrowing under the company's credit facility and for working capital and other general corporate purposes, including capital expenditures and acquisitions.
 Alco Health Services Corporation, formed in 1985, is one of the four largest full-service drug wholesalers in the United States, currently operating 16 full-service drug wholesale facilities. Alco Health currently serves more than 16,000 customers in 35 states. Substantially all of Alco Health's facilities are located east of the Missouri River and many operating units have more than 100 years of history in the business.
 Alco Health Services Corporation is headquartered in Valley Forge, Pa.
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 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 /delval/
 -0- 4/10/92
 /CONTACT: Teresa T. Ciccotelli of Alco Health Services, 215-296-4480/
 (ASN) CO: Alco Health Services Corporation; Alco Health Distribution
 Corporation ST: Pennsylvania IN: SU: OFR


JS-LJ -- PH010 -- 7169 04/10/92 11:04 EDT
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Publication:PR Newswire
Date:Apr 10, 1992
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