Printer Friendly

CBL MEDICAL ANNOUNCES $4 MILLION INCREASE IN CREDIT

 LOS ANGELES, March 30 /PRNewswire/ -- CBL Medical Inc. (NASDAQ: CBLM) announced today its affiliated Physician Groups' accounts receivable financing institution approved a $4 million increase in its revolving line of credit, bringing the total line to $14 million.
 Robert B. Mishkin, president and chief executive officer, stated, "The $4 million increase in the line of credit is a significant element of our 1993 financial strategy. This, coupled with expense reductions associated with the planned selling or closing the less profitable Medical Centers, should allow CBL to reach its goals of generating positive cash flow from operations while at the same time maintaining acceptable profit margins.
 "In addition, in early March 1993, CBL subcontracted the collections function to our lender. This move is expected to increase the rate of collections and reduce the cost of collecting for CBL."
 CBL Medical Inc. currently manages 10 medical centers, four Work Simulation Centers and one Centers for Vocational Rehabilitation Services.
 -0- 3/30/93
 /CONTACT: Bill Roberts of CBL Medical, 513-891-1818/
 (CBLM)


CO: CBL Medical Inc. ST: California IN: MTC SU:

MS-JL -- LA006 -- 0882 03/30/93 09:02 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 30, 1993
Words:186
Previous Article:C.H. HEIST, LTD. AWARDED $2.3 MILLION ONTARIO BLUE WATER BRIDGE PAINTING CONTRACT
Next Article:PAUL KAZARIAN REMOVED FROM BOARD OF SUNBEAM-OSTER COMPANY, INC.
Topics:


Related Articles
CBL MEDICAL INC. ANNOUNCES JOINT VENTURE TO ESTABLISH CENTERS FOR VOCATIONAL REHABILITATION SERVICES INC.
CBL MEDICAL REPORTS SECOND QUARTER RESULTS
CBL MEDICAL ANNOUNCES IT AND ITS AFFILIATED PHYSICIAN GROUPS UNIT HAVE ENTERED INTO AN AGREEMENT WITH HELLER FINANCIAL
CBL MEDICAL ANNOUNCES IT AND ITS AFFILIATED PHYSICIAN GROUPS UNIT HAVE ENTERED INTO AN AGREEMENT WITH HELLER FINANCIAL
CBL MEDICAL ANNOUNCES IT AND ITS AFFILIATED PHYSICIAN GROUPS UNIT HAVE ENTERED INTO AN AGREEMENT WITH HELLER FINANCIAL
PROJECTED EARNINGS ON TARGET; PROPOSED WORKERS' COMP CHANGES WOULD NOT HAVE MATERIALLY ADVERSE EFFECT
PROJECTED EARNINGS ON TARGET; PROPOSED WORKERS' COMP CHANGES WOULD NOT HAVE MATERIALLY ADVERSE EFFECT
CBL MEDICAL REPORTS FIRST QUARTER RESULTS
IRS PROPOSES CBL MEDICAL CHANGE TAX METHOD
CBL MEDICAL REPORTS PROGRESS IN CHAPTER 11 FILING

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters