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GERIATRIC & MEDICAL COMPANIES, INC. ANNOUNCED THE REDEMPTION OF A 16% SUBORDINATE BOND ISSUE

 PHILADELPHIA, Jan. 7 /PRNewswire/ -- Geriatric & Medical Companies, Inc. (NASDAQ-NMS: GEMC) announced its call to redeem all of the $2.8 million outstanding Geriatric & Medical Centers, Inc. 16% Subordinate Debentures due Dec. 31, 1994 on Feb. 1, 1994 at par plus accrued interest to the date of redemption.
 Daniel Veloric, Chairman of the Board and President of the Company, stated, "The elimination of the 16% interest costs prior to Dec. 31, 1994 and that no premium was required for redemption were the incentives for the Company to exercise their call privileges."
 Geriatric & Medical Companies, Inc., headquartered in Philadelphia, is a leading health care company providing pharmacy services, rehabilitation therapies, ambulance transportation nursing home contract services to owned and managed nursing care facilities and home health care which includes infusion, respiratory and medical equipment, to hospitals, HMOs and physician groups.
 -0- 1/7/94
 /CONTACT: James J. O'Malley, vice president and chief financial officer of Geriatric & Medical Centers, 215-748-8852, or Stan Froelich of Cameron Associates, 212-644-9560/
 (GEMC)


CO: Geriatric & Medical Companies, Inc. ST: Pennsylvania IN: HEA SU:

SH-MP -- NY016 -- 0065 01/07/94 10:01 EST
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Publication:PR Newswire
Date:Jan 7, 1994
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