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MEDICAL DEVICES, INC. ANNOUNCES COMPLETION OF EQUITY PRIVATE PLACEMENT

 ST. PAUL, Minn., Nov. 19 ~PRNewswire~ -- Medical Devices, Inc. (NASDAQ: MDEV) (MDI), at its Annual Shareholders Meeting today announced that it had completed an equity private placement. The completed offering was for 840,000 units, each of which consists of one share of the company's common stock, $.10 par value, and a warrant to purchase one-half of one share of the common stock. The units were offered and purchased by a limited number of "accredited investors," and all shares are restricted securities.
 The price of each unit is $.60. The warrants are exercisable to purchase common stock at an exercise price of $1 per share, commencing Jan. 1, 1993, and until the close of business on Sept. 30, 1996. The warrants are redeemable by the company when certain conditions are met.
 Prior to this offering the company had 2,088,938 shares outstanding, excluding options. After the offering the company has 2,928,938 shares outstanding, excluding options and the warrants.
 According to David Kaysen, president and CEO, "This infusion of just over $500,000 in equity will significantly benefit MDI and assist us in our growth objectives for fiscal year 1993 and beyond. The very positive response by investors is indicative of the positive momentum we are building here at MDI. We will be using these funds to help us finance sales and marketing, inventory and receivables associated with our direct sales division, Rehabilicare Systems(TM). The growth we are experiencing with Rehabilicare Systems is significant and required this equity infusion."
 Medical Devices, Inc. is a leading designer and manufacturer of electromedical rehabilitation and pain management products. The company's common stock is traded on the national over-the-counter market under the NASDAQ symbol "MDEV."
 -0- 11~19~92
 ~CONTACT: David B. Kaysen, president and CEO, or Jeffrey P. Shields, vice president of finance, 612-631-0590, both of Medical Devices~
 (MDEV)


CO: Medical Devices, Inc. ST: Minnesota IN: MTC SU:

AL -- MN007 -- 2932 11~19~92 13:07 EST
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Publication:PR Newswire
Date:Nov 19, 1992
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