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HEALTH IMAGE ANNOUNCES LETTER OF INTENT WITH RX RETURNS

 ALBUQUERQUE, N.M., Sept. 15 /PRNewswire/ -- The board of directors of Health Image Media, Inc. (NASDAQ: RXRX) announced today that the company has entered into a letter of intent with RX Returns, Inc., a Palm, Pa. based national return goods service organization that operates across the entire spectrum of the pharmaceutical, over-the-counter and health and beauty aid industries.
 The board stated that the letter of intent contemplates that the company will acquire RX Returns, a privately held company, in a merger transaction in consideration for shares of the company's common stock. No further details were announced. The transaction is subject to a number of conditions, including the completion of a due diligence investigation by the company, the negotiation and execution of a definitive merger agreement and related documents and receipt of approval by the company's stockholders. The company proposes to make no further comments regarding the proposed transaction until either execution of a definitive merger agreement or the definitive abandonment of the proposed transaction.
 -0- 9/15/93
 /CONTACT: Robert Hussey of Metro Vision of North America, Inc., 212-370-3096/
 (RXRX)


CO: Health Image Media, Inc.; RX Returns, Inc. ST: New Mexico, Pennsylvania IN: MTC SU: TNM

LD -- NY006 -- 2096 09/15/93 09:15 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
Words:205
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