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NAMIC U.S.A. CORPORATION AND NOVOSTE SIGN PACT

 NAMIC U.S.A. CORPORATION AND NOVOSTE SIGN PACT
 GLENS FALLS, N.Y., May 12 /PRNewswire/ -- NAMIC U.S.A. Corporation


(NASDAQ: NUSA) announced it has signed an agreement to acquire Novoste Puerto Rico, Inc. Pursuant to the terms and subject to the conditions set forth in the agreement, a new wholly owned subsidiary of NAMIC will be merged with Novoste, which will thereafter be a wholly owned subsidiary of NAMIC, and the stockholders of Novoste will receive cash in exchange for their Novoste shares. Consummation of the merger is subject to customary closing conditions. The acquisition will allow NAMIC to broaden its product offering to its present customers through addition of Novoste's coronary and peripheral angiography and angioplasty guiding catheters to its current lines.
 NAMIC designs, manufactures and markets disposable medical products used in the diagnosis and treatment of cardiovascular disease. Present product lines are used for fluid delivery, waste containment and invasive blood pressure monitoring in Cardiac Catheterization labs and Radiology Units. NAMIC's products are customarily connected directly to cardiovascular catheters like those offered by Novoste, and are sold exclusively through NAMIC's 60-person direct sales organization in the United States and through medical products distributors outside the U.S.
 Novoste was founded in 1987 to develop a proprietary line of coronary angiography catheters targeted for the growing outpatient catheterization market. Novoste's angiography catheters are designed to deliver high flow rates through very small arterial puncture sites, which is desirable for outpatient procedures. The proprietary manufacturing process for Novoste's high-flow catheters is protected by several United States patents. Certain assets of Novoste not related to cardiovascular catheters will be transferred to a corporation formed by certain Novoste Puerto Rico principals. Novoste is located in Aguadilla, Puerto Rico.
 NAMIC's chief executive officer Cynthia L. Morris stated, "Subject to closing, we're looking forward to intensive marketing of these proprietary catheters through our direct sales force. In the past, customers have encouraged us to consider offering angiography catheters, and this caused us to begin development of our own. The acquisition of Novoste will allow us to 'leapfrog' our internal development efforts, and immediately open up a new market for us. We're also pleased with the prospects of continuing to manufacture this line in Puerto Rico, which will allow us to take advantage of the low manufacturing costs and tax benefits available there."
 -0- 5/12/92
 /CONTACT: Jeanne Wehnau, investor relations coordinator for NAMIC U.S.A. Corporation, 518-798-0067/
 (NUSA) CO: NAMIC U.S.A. Corporation ST: New York IN: MTC SU: JVN


KK -- CL004 -- 8977 05/12/92 09:20 EDT
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Publication:PR Newswire
Date:May 12, 1992
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