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ORTHOLOGIC REPORTS 1992 FINANCIAL RESULTS

 PHOENIX, March 4 /PRNewswire/ -- OrthoLogic Corp. (NASDAQ: OLGC), a development stage medical device manufacturer, announced today that it incurred a net loss of $2.99 million, or 78 cents per share, for the year ended Dec. 31, 1992. This is slightly greater than the 1991 loss, which totalled $2.85 million, or 76 cents per share. In addition, the company reported a net loss of $707,053 for the fourth quarter ended Dec. 31, 1992, compared to a $627,384 loss for the same period in 1991.
 According to Allan Weinstein Ph.D., president and chief executive officer of OrthoLogic, operating expenses were $2.9 million in 1992, compared to $3.1 million the previous year. Approximately 72 percent of the company's 1992 expenses were related to product research, development and the regulatory process.
 The company also announced the start of clinical trials of its SpinaLogic(TM) 1000 product, a portable, noninvasive bone growth stimulator designed to enhance healing as an adjunctive post-surgical treatment for patients who undergo spinal fusion procedures. The SpinaLogic 1000 is based on the company's BioLogic(TM) technology, and utilizes 30-minute-per-day treatment with electromagnetic fields to stimulate bone healing. Approximately 125,000 spinal fusions are performed annually in the United States, generally involving the removal of one or more ruptured vertebral discs to alleviate pain.
 The randomized, double-blind placebo-controlled trials are being conducted under an Investigational Device Exemption (IDE) granted by the U.S. Food and Drug Administration (FDA) in August 1992.
 The company also announced the appointment of a director of Manufacturing, Stephen Soderberg, who has more than 18 years experience in manufacturing and industrial engineering and who will be responsible for management of the company's manufacturing facilities in Phoenix. He joined OrthoLogic from Acoustic Imaging, a manufacturer of medical devices, where he oversaw all aspects of production for three product lines and established a documentation system, which complies with the FDA's Good Manufacturing Practices (GMP), while coordinating development of two new production facilities.
 "His manufacturing engineering background and his experience with GMP will be invaluable as we prepare for commercial production of OrthoFrame, an external fixation device used to immobilize complicated fractures," said Weinstein. The OrthoFrame has received 510(k) pre-market notification clearance from the FDA.
 OrthoLogic Corp. is a developer of therapeutic devices that enhance healing of musculoskeletal tissues. The company was founded in 1987 and is headquartered in Phoenix.
 ORTHOLOGIC CORP.
 (A Development Stage Company)
 SELECTED FINANCIAL INFORMATION
 (Unaudited, dollars in thousands except per-share data)
 OPERATIONS DATA
 Three Months Year
 Ended Dec. 31: 1992 1991 1992 1991
 Grant revenue $ -- $ 2.6 $ -- $ 74.1
 Operating Expenses:
 Clinical & regulatory 210.0 242.4 620.3 1,024.5
 Research & development 295.2 250.8 1,371.2 1,210.3
 General & administrative 94.0 88.3 508.0 398.6
 Patent 28.0 4.1 125.0 141.3
 Marketing & sales 70.2 54.7 311.2 282.2
 Total 697.4 640.3 2,935.7 3,056.9
 Operating loss 697.4 637.7 2,935.7 2,982.8
 Other Income (Expense):
 Interest income 10.3 20.1 28.7 158.3
 Interest expense (20.9) (9.8) (80.1) (31.9)
 Net loss $ (707.0) $ (627.4) $(2,986.2) $(2,855.6)
 Net loss per common
 share $ (0.17) $ (0.17) $ (0.78) $ (0.76)
 Weighted average common
 shares outstanding 4,091,142 3,740,584 3,830,924 3,733,401
 BALANCE SHEET DATA
 Dec. 31: 1992 1991
 Cash and cash equivalents 2,021.2 1,219.3
 Furniture and equipment, net 297.8 344.7
 Total assets 2,729.9 1,631.9
 Total current liabilities 720.1 366.7
 Long-term debt 125.9 252.7
 Stockholders' equity 1,883.9 1,012.6
 -0- 3/4/93
 /CONTACT: Allan Weinstein of OrthoLogic, 602-437-5520; Dolores Chenoweth or Heidi Flannery of in.ves'com, 503-221-2087, for OrthoLogic/
 (OLGC)


CO: OrthoLogic Corp. ST: Arizona IN: MTC SU: ERN

LM-JH -- SE012 -- 3230 03/04/93 19:39 EST
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