ELECTROMEDICS BUYS BACK 180,000 SHARES
ELECTROMEDICS BUYS BACK 180,000 SHARES ENGLEWOOD, Colo., July 8 /PRNewswire/ -- Electromedics Inc.
(NASDAQ: ELMD) today announced that the company purchased 180,000 shares of its outstanding common stock in the open market.
The purchase was based on the board of directors' determination that the stock is currently undervalued, based on the company's increased sales levels and continuing earnings. "The current decrease in stock prices in the medical sector, as well as the decline in Electromedics' share price, provided us with this buying opportunity. The current and long-term prospects for Electromedics remains positive," said F. James Lynch, chairman and chief executive officer of Electromedics. The company is a leader in the autotransfusion segment of the blood processing market with the second largest share, which is over one third of the United States' autotransfusion market. The company also designs and manufactures blood conservation devices and related disposable devices for use in cardiovascular, orthopedic and other medium/high blood loss surgeries. -0- 7/8/92 /CONTACT: F. James Lynch or Richard B. Carlock both of Electromedics, 303-790-8700; or Scott A. Brooks of Carl Thompson Associates, 303-494-5472, for Electromedics/ (ELMD) CO: Electromedics Inc. ST: Colorado IN: MTC SU:
MC -- DV002 -- 7427 07/08/92 12:54 EDT
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|Date:||Jul 8, 1992|
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