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GV MEDICAL SELLS 4 MILLION SHARES OF COMMON STOCK

 GV MEDICAL SELLS 4 MILLION SHARES OF COMMON STOCK
 MINNEAPOLIS, Feb. 4 /PRNewswire/ -- GV Medical, Inc., (NASDAQ: GVMI)


announced today that it has completed the sale of 4 million shares of newly issued common stock at $1 per share to two investor groups. Terms of the transaction were approved by the company's shareholders at a special meeting held Jan. 30.
 An investor group led by Daryl F. Yurek of Boulder, Colo., purchased 3 million shares, and a group led by Nathaniel S. Thayer of Providence, R.I., purchased 1 million shares. As part of the transaction, the groups received warrants to purchase an additional 4 million shares of common stock at $1.25 per share, exercisable within 12 months from the closing.
 The company said that Yurek, currently chairman of Destron/IDI, Inc., a technology company based in Boulder, is expected to be elected chairman of the board of GV Medical and a director of the company in the next several days. As part of the agreement, Yurek and an associate are being granted options on a total of 1,050,000 shares of GV Medical stock, with an exercise price of 50 cents per share.
 "We are pleased to have successfully concluded this financing," said James R. Grabek, president and CEO of GV Medical. "It will enable us to continue development of our new laser system, which continues to produce promising clinical results."
 GV Medical, based in Minneapolis, is currently working with the Massachusetts Institute of Technology and the Cleveland Clinic to develop a new laser system that incorporates both diagnostic and therapeutic features to remove plaque from blocked coronary arteries.
 The company's existing LASTAC(R) laser system is awaiting approval from the U.S. Food and Drug Administration for use in coronary arteries and already has been approved for use in peripheral arteries.
 -0- 2/4/92
 /CONTACT: Curt Swenson of Swenson Falker Eilertsen, 612-371-0000 for GV Medical, or Jim Grabek of GV Medical, 612-559-4000/
 (GVMI) CO: GV Medical, Inc. ST: Minnesota IN: MTC SU: OFR


AL -- MN011 -- 6784 02/04/92 14:31 EST
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Publication:PR Newswire
Date:Feb 4, 1992
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