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GRANCARE ACQUIRES SOUTH CAROLINA INSTITUTIONAL PHARMACY OPERATIONS

 CULVER CITY, Calif., July 1 /PRNewswire/ -- GranCare Inc. (NASDAQ: GRNC) today announced it has acquired Winyah Dispensary Inc., a privately held institutional pharmacy serving 9,000 beds in South Carolina and North Carolina, extending GranCare's market penetration into the Southeast for the first time and significantly expanding its pharmacy operations. Winyah, which has an estimated 51 percent share of the pharmacy market in South Carolina, was acquired for undisclosed cash and notes.
 "Adding the profitable Winyah operations increases our pharmacy revenues while extending our geographic presence into a new region, both primary goals of our acquisition program. It also serves as a basis for future growth in the Eastern United States," said Gene E. Burleson, GranCare president and chief executive officer.
 Winyah Dispensary, based in Georgetown, also has locations in Florence and Columbia, S.C., as well as Aberdeen, N.C. The organization will continue to be managed by Dr. Charles Cooper, who founded Winyah 26 years ago.
 Negotiations are currently underway regarding the proposed acquisition by GranCare of 10 long-term care facilities in the South Carolina market. In the last two months GranCare has acquired six long- term care facilities and two therapy services in the Northwest and Western regions of the United States.
 GranCare currently operates 84 long-term health care facilities totalling approximately 12,000 beds located in California, Michigan, Wisconsin, Colorado, Arizona and South Dakota; five institutional pharmacies; home health care operations; and offers a range of rehabilitation services.
 -0- 7/1/93
 /CONTACT: Gene E. Burleson or Catherine I. Greany of GranCare, 310-645-1555; or Craig A. Parsons or Cecilia Wilkinson of Pondel Parsons & Wilkinson, 310-207-9300/
 (GRNC)


CO: GranCare Inc.; Winyah Dispensary Inc. ST: California, North Carolina, South Carolina IN: HEA SU: TNM

MF-JL -- LA014 -- 7547 07/01/93 09:03 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
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