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IN HOME HEALTH DOUBLES BANK LINE OF CREDIT; COMPLETES VALLEY HOME HEALTH, INC. ACQUISITION: RECEIVES STATE OF ARIZONA APPROVAL

IN HOME HEALTH DOUBLES BANK LINE OF CREDIT; COMPLETES VALLEY HOME HEALTH,
    INC. ACQUISITION: RECEIVES STATE OF ARIZONA APPROVAL
    MINNETONKA, Minn., Sept. 30 /PRNewswire/ -- In Home Health, Inc. (NASDAQ: IHHI) announced today that its lead bank, Marquette Bank Minneapolis, N.A., has increased its previous line of credit to $10 million from $5 million, according to Judy M. Figge, president and chief executive officer.
    In other news, In Home Health has completed the acquisition of the ongoing business of Valley Home Health, Inc., Ms. Figge said.  Terms of the transaction were not announced.
    "The acquisition of Valley Home Health represents In Home Health's entry into its 13th geographic market and will be the 29th office of the company," Ms. Figge said.
    The company also reported that the Arizona Department of Health Services has approved and licensed hospice operations at the company's Phoenix area branches located in Phoenix, Scottsdale, Sun City and Tempe.
    "All of this is exciting news," Ms. Figge said, "indicating the significant progress we continue to make in expanding our home health care services.  The bank credit line extension is evidence of Marquette's confidence in our ability to continue the expansion and growth plans.  Approval of our hospice services in Arizona enables us to enter a logical new segment of home health care utilizing the nursing services and infusion products of the company."
    Valley Home Health has been providing home health services since 1983 and had revenues for the fiscal year ended Jan. 31, 1991, of over $1 million.  The office will operate under the name In Home Health. Margaret Timm, RN, the principal owner of Valley Home Health, will be the general manager of the Pittsburgh facility.
    In addition to Pittsburgh, In Home Health currently operates in 12 other U.S. metropolitan markets: Phoenix, Ariz.; Los Angeles and San Francisco, Calif.; Chicago, Ill.; Minneapolis/St. Paul, Minn.; Kansas City and St. Louis, Mo.; Cincinnati, Ohio; Denver, Colo.; Detroit, Mich.; Houston, Texas; and Seattle, Wash.  The company also operates infusion pharmacies in its Chicago, Phoenix, St. Louis, San Francisco, Los Angeles, Kansas City, and Cincinnati markets.
    In Home Health provides quality health care to people of all ages in their own homes.  Home care is one of the fastest growing segments of the health-care industry, currently estimated at $16 billion annually in the U.S. and expected to grow to $36 billion by the mid-1990s.
    -0-             09/30/92
    CONTACT:  Kenneth J. Figge, chief financial officer of In Home Health, Inc., 612-449-7500
    (IHHI) CO:  IN HOME HEALTH, INC. IN:  HEA ST:  MN -- NY081 -- X686  09/30/92
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Publication:PR Newswire
Date:Sep 30, 1992
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