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MEDISYS ANNOUNCES THIRD QUARTER RESULTS

 MINNEAPOLIS, Nov. 3 /PRNewswire/ -- Medisys, Inc. (NASDAQ: MEDS) a leading provider of alternate site health care services and related products, announced today that its net revenues for the first nine months of 1993 increased 125.2 percent to $37.2 million compared to $16.5 million for the same period of the prior year.
 The company attributes this growth in net revenues to a 21 percent increase in revenue by existing regional centers. The remaining growth is primarily from acquisitions completed by Medisys in 1992. For the third quarter of 1993, net revenues were $12.8 million, a 100 percent increase over $6.4 million for the prior year.
 Income from operations for the first nine months of 1993 increased 27 percent to $2.6 million from $2.1 million for the same period in 1992. Income from operations increased 9 percent to $789,000 for the third quarter.
 "At the end of the second quarter, we laid out plans to improve operating performance and expand the range of programs offered by each location, and we have made progress with those plans," said William Brummond, Medisys CEO. "For example, the consolidation of the physical locations and the management staff of our Texas operations has contributed to the improvement in gross profit. We expect additional improvement as we continue the integration of the administrative and operational function of American Home Therapies, with whom we merged in the second quarter," Brummond concluded.
 Net income for the third quarter of 1993 was $475,521. Proforma net income for the first nine months of 1993, after adjustments for the elimination of merger related expenses and the provision of income taxes on AHT's subchapter S corporation earnings, would have been $1,471,000, up 4 percent from $1,420,000 in the prior year. Proforma net income for the third quarter of 1993 would have been $416,000 versus $506,000 in the prior year.
 Fully diluted net income per share for the third quarter of 1993 was $.04. Proforma fully diluted net income per share would have been $.11 per share for the first nine months and $.03 per share for the third quarter of 1993 compared to $.14 per share and $.05 per share for the same periods of 1992. Fully diluted weighted average shares outstanding increased 27 percent to 13.2 million shares for the first nine months of 1993 compared to 10.4 million shares for the same period of 1992.
 "In the fourth quarter, we will be turning our focus to the state of the health care industry and the impact of the proposed health care legislation upon the best interests of the corporation. We will be investing our energies in developing strategic alliances and relationships that will allow us to be responsive to the changing environment in the health care industry," Brummond concluded.
 Medisys provides comprehensive home infusion therapy services and products, which involves the intravenous or other administration of physician-prescribed nutrients, antibiotics, chemotherapeutic agents or other medications to patients in their homes. The company also provides comprehensive pharmacy services to long-term care and retirement communities. These services include prescription dispensing, pharmaceutical consulting, IV therapy, enteral therapy and medical supplies. The company maintains operations in Minnesota, Wisconsin, Texas, Ohio, Illinois, Arizona, Missouri, Kansas and California.
 MEDISYS FINANCIAL RESULTS
 STATEMENTS OF OPERATIONS
 Nine Months Ended
 9/30/93 9/30/92 Pct. Change
 Net revenues $37,221,548 $16,528,010 125.2
 Income from operations 2,623,698 2,063,506 27.1
 Merger expenses and
 deferred taxes 1,597,280 0 N/A
 Net income $417,283 $1,840,726 (77.4)
 Net income per common share:
 Primary $.03 $.18 (83.3)
 Fully diluted $.03 $.18 (83.3)
 Weighted average common
 shares outstanding:
 Primary 12,282,000 10,396,000 18.1
 Fully diluted 13,198,000 10,396,000 27.0
 Three Months Ended
 9/30/93 9/30/92 Pct. Change
 Net revenues $12,759,192 $6,390,972 99.6
 Income from operations 788,517 726,248 8.6
 Net income $475,521 $754,618 (37.0)
 Net income per common share:
 Primary $.04 $.07 (42.9)
 Fully diluted $.04 $.07 (42.9)
 Weighted average common
 shares outstanding:
 Primary 12,334,000 10,411,000 18.5
 Fully diluted 13,144,000 10,411,000 26.3
 BALANCE SHEETS:
 9/30/93 12/31/92
 Assets
 Current assets:
 Cash and cash equivalents $1,223,848 $3,011,087
 Accounts receivable, net 13,171,869 11,054,946
 Other 2,484,484 3,920,423
 Total current assets 16,880,201 17,986,456
 Equipment and leaseholds, net 2,391,583 2,117,157
 Intangible assets, net 19,046,990 17,682,364
 Total assets $38,318,774 $37,785,977
 Liabilities and stockholders' equity
 Current liabilities $11,509,406 $11,031,751
 Long-term liabilities 1,249,986 1,725,055
 Minority interest 302,373 302,594
 Total stockholders' equity 25,257,009 $24,726,577
 Total liabilities and
 stockholders' equity $38,318,774 $37,785,977
 -0- 11/3/93
 /CONTACT: William Brummond, CEO, or David Byrd, CFO, of Medisys, 612-835-8300/
 (MEDS)


CO: Medisys, Inc. ST: Minnesota IN: HEA SU: ERN

DS-AL -- MN004 -- 9939 11/03/93 07:59 EST
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Date:Nov 3, 1993
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