Printer Friendly

GRAHAM-FIELD HEALTH PRODUCTS COMPLETES SALE OF $20 MILLION IN LONG-TERM NOTES

 GRAHAM-FIELD HEALTH PRODUCTS COMPLETES SALE
 OF $20 MILLION IN LONG-TERM NOTES
 HAUPPAUGE, N.Y., March 12 /PRNewswire/ -- Graham-Field Health Products, Inc. (AMEX: GFI), a manufacturer and supplier of healthcare products, today announced the sale to John Hancock Mutual Life Insurance Company of $20 million principal amount of 8.28 percent senior notes due 2000 and five-year warrants to purchase 125,000 shares of common stock at $12 per share.
 A portion of the proceeds are expected to be used by the company to open a major distribution facility in the Midwest and to fund the previously announced acquisition of Diamond Medical Equipment Corp. and National Healthcare Equipment Corp. The balance will be used for general corporate purposes.
 The new Midwest distribution facility, currently expected to open in the latter half of 1992, is being designed with the most technically advanced computerized equipment, intended to allow it to operate in a virtually paper-less environment. When operational, this facility will enable Graham-Field customers, such as Abbey Home Healthcare, Inc., the largest home healthcare dealer in the United States with 160 branches nationwide, to reduce their operating costs and inventory levels, through the company's just-in-time CAP program, which will be facilitated by Electronic Data Interchange (EDI) order transmission. Under the CAP program, Abbey and all other customers who sign on are able to reduce the operating costs associated with purchasing multiple products from multiple vendors by consolidating their orders with Graham-Field.
 Graham-Field manufactures, markets and distributes approximately 19,000 healthcare products for hospital physician and home use to approximately 16,000 home healthcare physician, hospital supply and pharmaceutical distributors, retailers and wholesalers.
 -0- 3/12/92
 /CONTACT: Donald J. Harnett, chief financial officer of Graham-Field Health Products, 516-582-5900/
 (GFI) CO: Graham-Field Health Products, Inc. ST: New York IN: HEA SU:


CK-TS -- NY040 -- 7756 03/12/92 12:08 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 12, 1992
Words:306
Previous Article:FAA FORECASTS GROWTH IN GENERAL AVIATION TURBINE-POWERED FLEET
Next Article:SEARS FILES REGISTRATION STATEMENT FOR PASS-THROUGH CERTIFICATES
Topics:


Related Articles
NOEL GROUP REPORTS FIRST QUARTER RESULTS
Graham-Field Health Products, Inc. Acquires Everest & Jennings International Ltd.
Graham-Field Health Products, Inc. Reports Results and Record Revenues for the First Quarter Ended March 31, 1998
Graham-Field Health Products, Inc. Signs Major Preferred and Primary Distribution Agreement with Homecare America
Graham-Field Health Products Ratings Cut; Still on S&PWatch
Graham-Field Health Products, Inc. Reports Results for the Third Quarter Ended September 30, 1998.
Graham-Field Health Products, Inc. Announces Agreement in Principle To Settle Securities Class Action, Financial Results for Quarter Ended June 30,...
Graham-Field Health Products, Inc. Enters into Commitment Letter With BankBoston, N.A. for a New $50 Million Credit Facility.
AAHP Applauds Grassley, Graham, Breaux and Mikulski For Leadership on Long-Term Care; Ignagni: Bipartisan Legislation a Recognition the 'Time Has...
Assurant Completes the Sale of its Equity Interest in Private Healthcare Systems, Inc.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters