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EVEREST MEDICAL CLOSES PRIVATE PLACEMENT WITH MILLER JOHNSON & KUEHN

 MINNEAPOLIS, Sept. 20 /PRNewswire/ -- Everest Medical Corporation (NASDAQ: EVMD) today announced that it has closed a private placement of securities placed through Miller Johnson & Kuehn of Minneapolis. Everest sold 727,273 units in the placement at $2.75 per unit. Each unit consists of one share of Series B eight percent Convertible Preferred Stock and a five-year warrant to purchase one share of common stock at an exercise price of $2.75 per share. The net proceeds of $1,825,000 will be used for general working capital.
 In September the company began shipment of its new product, the EVERSHEARS(TM) curved bipolar scissors. The company has previously announced agreements with Ethicon Endo-Surgery, a subsidiary of Johnson & Johnson, whereby Ethicon will distribute Everest's bipolar forceps and CONMED who will distribute a version of Everest's bipolar scissors.
 John L. Shannon, Jr., Everest's president and CEO, said, "We have taken steps to streamline our operating expenses. We believe these actions coupled with the recently signed supply agreements and this latest round of financing will allow the company to significantly improved operating results."
 Everest Medical is a leading developer, manufacturer and marketer of bipolar electrosurgery products for the minimally invasive surgical markets of laparoscopic surgery and gastrointestinal endoscopy. Everest Medical stock is traded on the NASDAQ over-the-counter market.
 -0- 9/20/93
 /CONTACT: Brian Jackson of Everest Medical, 612-473-6262/
 (EVMD)


CO: Everest Medical Corporation ST: Minnesota IN: MTC SU:

DB-DS -- MN019 -- 3893 09/20/93 17:51 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
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