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ASSOCIATED HEALTHCARE INDUSTRIES REACHES AGREEMENT WITH BIMECO

 ASSOCIATED HEALTHCARE INDUSTRIES REACHES AGREEMENT WITH BIMECO
 CLEARWATER, Fla., June 2 /PRNewswire/ Associated Healthcare Industries, Inc. (OTC Bulletin Board: AHII) today announced an agreement has been reached with Bimeco, Inc. The binding letter of intent was signed May 21, 1992 and is expected to be followed by a formal contract within 30 days. This letter of intent is for a three-year period and represents a two-part agreement which covers a mutually exclusive arrangement between Bimeco and Associated for marketing and manufacturing. Associated, a specialty medical product manufacturer and testings services company, will become the exclusive manufacturer for all of Bimeco's specialty product lines. The primary products will be a variety of disposable medical kits which are used within the nursing home, hospital and home health care markets. In addition, Bimeco will become the exclusive marketing representative for Zygiene Medical Technology (a wholly owned subsidiary of Associated), a manufacturer and distributor of a patented prefilled syringe product line. Associated estimates revenues from this agreement will be $4 million to $5 million annually.
 Bimeco, Inc. is a multi-service provider of health delivery systems operating in a six state Southeastern region. Bimeco represents the leading edge in specialty medical products and brings to Associated over 1,700 established medical clients. These customers are serviced by a substantial sales force with over 15 years of experience in the specialty medical products field. Bimeco is a private company with sales in excess of $27 million annually.
 -0- 6/2/92 R
 /CONTACT: Robert James, vice president of investor relations of Associated Healthcare Industries, 813-573-3312/
 (AHII) CO: Associated Healthcare Industries, Inc.; Bimeco, Inc. ST: Florida IN: HEA SU:


JB -- FL012X -- 6534 06/03/92 09:53 EDT
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Publication:PR Newswire
Date:Jun 3, 1992
Words:281
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