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MEDCASH FINANCIAL TO PURCHASE CERTAIN ASSETS OF HEALTH LINE

 MEDCASH FINANCIAL TO PURCHASE CERTAIN ASSETS OF HEALTH LINE
 RIVER VALE, N.J., Dec. 19 /PRNewswire/ -- Leona Enterprises, Inc. (OTC: LNAE), announced today that Medcash Financial Corporation, a wholly owned subsidiary of Leona, has entered into an agreement with Health Line, Inc., to purchase the assets of Health Line related to the consumer credit card operations of the company. Health Line, a wholly owned subsidiary of Blue Cross and Blue Shield of Maryland, Inc., is engaged in the business of providing consumers with a dedicated line of credit for the payment of health care expenses.
 Presently, the company has a base of approximately 17,000 subscribers who use the "Medcash" credit card to pay for medical procedures. Additional revenues may be derived from providing lines of credit to physicians and other health care providers.
 Marketing plans are being developed by Medcash Financial to expand the subscriber base by approximately 100,000 persons annually culminating in a nationwide program. New management will utilize its relationships with state and local associations, credit unions and medical societies to accomplish these goals.
 -0- 12/19/91
 /CONTACT: Michael Karp of Milan National, 201-666-3330 for Leona Enterprises/
 (LNAE) CO: Leona Enterprises, Inc.; Medcash Financial Corporation;
 Health Line, Inc. ST: New Jersey, Maryland IN: FIN SU: TNM


GK-OS -- NY036 -- 3850 12/19/91 11:36 EST
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Publication:PR Newswire
Date:Dec 19, 1991
Words:220
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