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SCHERER HEALTHCARE IN FINANCING AGREEMENT TO ACQUIRE UP TO 60 PERCENT OF MARQUEST MEDICAL PRODUCTS

 ATLANTA, Jan. 8 /PRNewswire/ -- Scherer Healthcare, Inc. (NASDAQ: SCHR) today announced it had completed an agreement in principle to provide up to $6.5 million in secured loans and other financing to Marquest Medical Products, Inc. (NASDAQ-NMS: MMPI) of Englewood, Colo.
 Scherer said the agreement could provide it with 51 percent ownership of Marquest, a maker of disposable devices and equipment for the respiratory, cardiopulmonary and anesthesiology markets.
 Under the terms Scherer will provide a $1.5 million secured bridge loan and then a $5 million line of credit, convertible into two million Marquest common shares. In addition, Scherer will work with Marquest to refinance the Swiss bonds of Marquest which are in default.
 The agreement also provides Scherer with warrants to purchase approximately 1.75 million common shares of Marquest during the next five years at prices ranging from $2 to $4 per share, either with cash or with Scherer common stock.
 Scherer will have the right to designate a majority of the corporate directors of Marquest.
 "Marquest owns an extensive line of specialized products sold to a loyal customer base and we are confident that its business will continue to return toward historic levels," said Robert D. Tucker, chairman and chief executive officer of Scherer.
 Scherer Healthcare Inc., provides healthcare and pharmaceutical services, including infections medical waste disposal, medical and surgical supplies, pharmaceutical research based on computer-assisted design, and over-the-counter pharmaceuticals. For fiscal 1992 it posted revenue of $20.7 million.
 -0- 1/8/93
 /CONTACT: James E. Brands, vice chairman of Scherer Healthcare, Inc., 404-333-0066, or Thomas Redington of Redington, Inc., 203-222-7399, or 212-926-1733, for Scherer Healthcare, Inc./
 (SCHR MMP)


CO: Scherer Healthcare, Inc.; Marquest Medical Products, Inc. ST: Georgia, Colorado IN: HEA SU: FNC

AH-OS -- NY011 -- 2979 01/08/93 10:17 EST
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Publication:PR Newswire
Date:Jan 8, 1993
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