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GRANCARE ISSUES STATEMENT

 CULVER CITY, Calif., Feb. 24 /PRNewswire/ -- Gene E. Burleson, president and chief executive officer of GranCare Inc. (NASDAQ: GRNC), today issued the following statement regarding the company's performance:
 "GranCare's strong fundamentals have not changed, despite the overreaction by some investors to the Clinton Administration's focus on certain health care issues. As a low cost provider of diverse health care services, we support the issue of cost reduction in certain instances and would benefit from efforts to provide affordable care.
 "There is nothing we see on the near term horizon that is potentially disruptive to our growth in the current year."
 GranCare operates 84 long-term health care facilities located in California, Wisconsin, Colorado, Arizona, South Dakota and Michigan as well as four institutional pharmacies. The company posted record net income of $9.9 million or $1.08 per primary share, on revenues of $301.6 million for 1992.
 -0- 2/24/93
 /CONTACT: Gene E. Burleson, president & CEO, or Catherine I. Greany, of GranCare, 310-645-1555; or Craig A. Parsons or Kim P. Feazle of Pondel Parsons & Wilkinson, 310-207-9300, for GranCare/
 (GRNC)


CO: GranCare Inc. ST: California IN: HEA SU:

JL-LS -- LA026 -- 0017 02/24/93 15:15 EST
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Publication:PR Newswire
Date:Feb 24, 1993
Words:197
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