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GRACE COMPLETES TENDER OFFER FOR HOME INTENSIVE CARE

 BOCA RATON, Fla., June 2 /PRNewswire/ -- W. R. Grace & Co. (NYSE: GRA) today announced the completion of its offer to purchase the outstanding shares of Home Intensive Care, Inc. (NASDAQ-NMS: HICI) for $6.60 per share in cash. In the offer, which expired at midnight, New York City time, on June 1, 1993, 13,470,863 shares of Home Intensive Care were tendered (including 382,061 shares subject to guarantees of delivery) and accepted for payment. These shares, when combined with the Home Intensive shares already owned by Grace, result in Grace's ownership of 85.8 percent of Home Intensive Care's outstanding shares.
 As previously disclosed, certain directors and officers of Home Intensive Care owning 7.5 percent of its shares were unable to tender their shares in the offer as a result of certain restrictions under the federal securities law. A Grace spokesman said that Grace hopes to acquire these shares for $6.60 per share when the restrictions terminate and that, subject to the terms of its Merger Agreement with Home Intensive Care, Grace plans to complete a merger in July 1993 in which it will acquire the remaining Home Intensive Care shares at the same $6.60 per share cash price.
 Grace also announced that, in connection with the successful completion of its offer, Grace representatives are to be elected to a majority of the positions on Home Intensive Care's Board of Directors.
 Grace is the world's largest specialty chemicals company and holds a leadership position in specialized health care.
 Home Intensive Care is a leading national provider of a full line of sophisticated alternate-site infusion therapy and dialysis health care services. Its operations cover key U.S. metropolitan centers through 35 home infusion regional offices, which include infusion clinics and infusion suites. In addition, it operates 13 dialysis clinics in metropolitan areas.
 -0- 6/2/93
 /CONTACT: Chuck Suits of W. R. Grace, 407-362-2600 or 800-GRACE99/
 (GRA HICI)


CO: W. R. Grace & Co.; Home Intensive Care, Inc. ST: Florida IN: HEA SU: TNM

AW -- FL004 -- 4333 06/02/93 09:24 EDT
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Publication:PR Newswire
Date:Jun 2, 1993
Words:346
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