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IVF AMERICA ANTICIPATES LOSS FOR THE SECOND QUARTER AND DECLARES DIVIDEND PAYMENT ON PREFERRED STOCK

 GREENWICH, Conn., July 19 /PRNewswire/ -- IVF America, Inc. (NASDAQ: IVFA), which manages clinical facilities providing infertility and assisted reproductive technology (ART) services, announced today that it anticipates a loss of approximately $1.1 million for the second quarter ended June 30, 1993, an amount greater than expected. Revenues of approximately $4.0 million represent an increase of approximately 14 percent over second quarter revenues of approximately $3.5 million in 1992.
 Three factors contributed to the loss including an unusual decrease in ART services at the company's facility in Westchester County, New York, continuing losses at its facility in Pittsburgh, Pennsylvania and previously expected initial operating losses and costs related to the company's two newest facilities in West Orange, New Jersey and Troy, Michigan which opened in March and early May, respectively.
 "In the past, Westchester in particular has been a very successful venture," said Dr. Andrew Dahl, chief executive officer of IVF America. "We are scrutinizing the Westchester and Pittsburgh operations and plan to take all necessary steps to get these facilities into a profitable mode. If we look at second quarter revenues and eliminate those of our Westchester facility, revenue increased approximately 38 percent in the 1993 quarter compared to 1992. " Dr. Dahl continued, "The company is pleased with the opening of its two newest facilities in New Jersey and Michigan. We are excited by the performance of the New Jersey facility, especially, as it has surpassed our projections in cycles and operating performance in the first three months."
 Several other developments at IVF America could improve the company's competitive advantage and financial position in the second half of 1993. The company recently recruited Mr. Ronald Hjelm as vice president of business development to direct the acquisition program and, currently, discussions are being held with six companies. Increased emphasis on obtaining egg donors will facilitate additional donor egg cycles during the balance of 1993 from a waiting list of 100 recipients. Also, consultations with 200 more prospective patients were conducted during the first six months of 1993 than in the previous six-month period. Further, the company has plans for an in-house mail order pharmacy which should contribute to patient convenience and to company profits. The company currently has cash on hand of $16.5 million and receivables of $3.0 million.
 IVF America is ahead of schedule with the development of its demonstration projects from embryo genetic disorder analysis. In conjunction with Integrated Genetics (I.G. Labs), the company is bringing this technology out of the lab and introducing it to physicians, genetic counselors, patients and the public. Because this is the company's first program to benefit both fertile and infertile couples, it has the potential to expand the number of patients the company can serve. Fertile couples with a high risk of transmitting the single gene disorder cystic fibrosis are being qualified for enrollment in the first project to begin later this month.
 The company also announced that its board of directors has declared the first quarterly dividend on the recently issued Series A Cumulative Convertible Preferred Stock. This dividend, in an amount of $.1739 per share pro rated from date of issue of the Preferred Stock, will be paid on August 16, 1993 to holders of record of the Preferred Stock at the close of business on July 30, 1993.
 IVF America is engaged in managing clinical facilities which provide ART services primarily to infertile couples. There are estimated to be 2.3 million infertile couples across the country who can potentially benefit from the company's services. IVFA currently manages six clinical facilities in collaboration with medical institutions or medical groups in New York, Pennsylvania, Massachusetts, New Jersey and Michigan.
 -0- 7/19/93
 /CONTACT: Dwight P. Ryan, chief financial officer, or Dr. Donald S. Wood, vice president of science and technology, 203-622-7230, both of IVF America, or Robert C. Hubbell, 212-704-8255, or Cara Kiewel, 212-704-8187, both of Edelman Worldwide, for IVF America/
 (IVFA)


CO: IVF America, Inc. ST: Connecticut IN: MTC SU: ERP DIV

TM -- NY096 -- 3322 07/19/93 20:13 EDT
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Publication:PR Newswire
Date:Jul 19, 1993
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