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I-FLOW CORP. RECEIVES $1.5 MILLION IN ADDITIONAL FUNDING

 I-FLOW CORP. RECEIVES $1.5 MILLION IN ADDITIONAL FUNDING
 IRVINE, Calif., Oct. 7 /PRNewswire/ -- I-FLOW Corp. (NASDAQ: IFLO), manufacturer and seller of innovative ambulatory infusion devices, announced today that it has completed a $1.5 million private placement of its preferred stock with Proactive Partners, L.P. and two of its affiliated funds ("Proactive"). Proactive Partners is a San Francisco-based merchant banking fund that was initially funded in 1991 to invest in small public companies. Among the companies in which Proactive has a greater than 10 percent equity interest and a proactive involvement are Coded Communications, NDE Environmental, Phoenix Network, Psychiatric Management Resources and Sonex Research.
 In this Private Placement the company sold 656,250 shares of Series B preferred stock having a liquidation preference equal to the issue price and an annual dividend of 5 percent of the issue price, payable in cash or common stock. The company also granted to Proactive, warrants to purchase 607,032 shares of the company's common stock. The warrants will expire in October 1997, and have exercise prices ranging from $2.40 to $4.80 per share. The shares of preferred stock are convertible into the company's common stock at any time, initially on a one-for-one basis.
 "We are pleased to have attracted investors with the business expertise and the financial strength of Proactive Partners and are pleased to have one of Proactive's general partners, Charles C. McGettigan, join our board of directors," said Donald M. Earhart, I-FLOW's chairman, president and chief executive officer. "Not only do we welcome their financial support but Proactive's investment banking affiliate, McGettigan, Wick & Co. Inc. has agreed to advise us in our ongoing search for an appropriate strategic partner."
 The additional working capital will be used to manufacture and market the company's new drug delivery systems; the SideKick and the Paragon.
 I-FLOW Corp. designs, develops, manufactures and markets technically advanced ambulatory infusion systems uniquely well suited to the alternate care environment. Reliable, efficient and easy to use, I-FLOW products offer users substantial opportunities to expand their therapy base, improve quality of care, and increase productivity. These advantages translate into improved revenues and profits for health care providers while reducing costs and improving the quality of life for patients.
 -0- 10/7/92
 /CONTACT: Jim Dal Porto of I-FLOW, 714-553-0888/
 (IFLO) CO: I-FLOW Corp. ST: California IN: HEA SU:


EH-ML -- LA012 -- 7435 10/07/92 11:53 EDT
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Publication:PR Newswire
Date:Oct 7, 1992
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