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SUNRISE MEDICAL ANNOUNCES ACQUISITION OF LEADING SPANISH REHABILITATION EQUIPMENT MANUFACTURER

 SUNRISE MEDICAL ANNOUNCES ACQUISITION OF
 LEADING SPANISH REHABILITATION EQUIPMENT MANUFACTURER
 TORRANCE, Calif., Feb. 26 /PRNewswire/ -- Sunrise Medical Inc. (NASDAQ: SNMD) announced today that it has acquired Talleres Uribarri, S.L., a privately held Spanish rehabilitation equipment manufacturer. Uribarri is the Spanish market leader in wheelchairs and patient aids, with annual sales of $7 million and a growth rate in 1991 of 45 percent. Although the purchase price was not disclosed, Sunrise Medical expects the acquisition to make a small positive contribution to earnings per share in fiscal 1992.
 Located in Bilbao, Spain, Uribarri makes standard, manual wheelchairs made of chromed steel as well as a broad line of crutches, walkers and commodes. The company also imports lightweight manual and power wheelchairs for distribution in Spain through its nationwide salesforce and dealer network. Uribarri's general manager, Armando Diaz, has signed a five-year employment agreement with Sunrise Medical and will continue to operate the company as an independent subsidiary, reporting to Barrie Payne, managing director of Sunrise Medical Ltd.
 "This acquisition represents another piece in our European expansion strategy, one with exciting opportunities for synergy," said Richard H. Chandler, chairman and president of Sunrise Medical Inc. "Uribarri is one of Europe's lowest cost producers of both standard wheelchairs and patient aids. Standard wheelchairs represent a new product line for Sunrise Medical which has great potential throughout Europe. Uribarri's Bilbao facility will also be our first patient aids factory in Europe. We plan to distribute both their wheelchairs and patient aids through our other European sales organizations and distributors. Conversely, Uribarri's strong salesforce and dealer network in Spain will provide us with an excellent platform for distributing other Sunrise products into this attractive growth market of over 40 million people.
 "As part of the European harmonization process," Chandler continued, "Spain will have to increase the amount spent on healthcare to bring it in line with E.C. minimum standards. Because the Spanish market is significantly behind the rest of Europe in rehabilitation products, we expect continued rapid growth in Uribarri's base business as well as from the new products that we will add to their line."
 Sunrise Medical designs, manufactures and markets internationally medical products used in the rehabilitation and recovery phases of patient care. Products include manual and electric wheelchairs, ambulatory and bath safety aids, patient-room beds and furnishings and therapeutic mattresses for the management of pressure sores. Sunrise products are designed to meet the special needs of three groups of people: the disabled, the elderly and the recovering patient.
 -0- 2/26/92
 /CONTACT: Ted N. Tarbet (financial), CFO, or Lisa Riordan (media), corporate communications manager, of Sunrise Medical, 310-328-8018; or Susan Noonan of Noonan/Russo Communications, 212-979-9180, for Sunrise Medical/
 (SNMD) CO: Sunrise Medical Inc.; Talleres Uribarri, S.L. ST: California IN: HEA SU: TNM


JL-KJ -- LA012 -- 2835 02/26/92 13:15 EST
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Publication:PR Newswire
Date:Feb 26, 1992
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