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PMR CORP. ANNOUNCES COMPLETION OF CONVERSION OF CONVERTIBLE PREFERRED STOCK

 SAN DIEGO, June 16 /PRNewswire/ -- PMR Corp. (NASDAQ-NMS: PMRP) today announced that holders of the Series B $5.25 Convertible Preferred Stock have elected to convert their shares into common stock of the company. The holders, an institutional investment group headed by Proactive Partners, L.P., a merchant banking fund, made the $2,075,000 investment in April of 1992 to support the working capital and growth of the company. The preferred stock was converted into 395,238 shares of common stock on a 1-for-1 basis.
 PMR Corp. is a San Diego-based company which currently manages 22 psychiatric partial hospitalization facilities in affiliation with acute care hospitals in California, Arizona and Indiana, and provides psychiatric home health care services in three major California markets.
 To add names to PMR's fax news service, or for further information, call Louise Dougherty at 619-295-2227.
 -0- 6/16/93
 /CONTACT: Louise Dougherty of PMR Corp., 619-295-2227/
 (PMRP)


CO: PMR Corp. ST: California IN: HEA SU:

EH-LS -- SD004 -- 2657 06/16/93 13:42 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
Words:170
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