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UNITED MEDICAL CORPORATION ISSUES ANNOUNCEMENT

 HADDONFIELD, N.J., Jan. 4 /PRNewswire/ -- United Medical Corporation (AMEX: UM), of Haddonfield, announced today that its board of directors has unanimously approved a transaction in which all of its outstanding common stock, other than shares owned by John Aglialoro and Joan Carter, will be acquired through a merger transaction by United Medical for $9.50 per share, payable in cash.
 Aglialoro and Carter are the chairman of the board and president of United Medical and together own approximately 52 percent of United Medical's outstanding shares.
 The board, in approving this transaction acted on the unanimous recommendation of a special committee of independent directors, which was advised by the investment banking firm of Alex. Brown & Sons. The closing price of United Medical's stock on Dec. 31, 1992, was $6.375.
 There is no financing contingency for the transaction. However, closing of the transaction is subject to various other conditions, including approval by United Medical's public shareholders and the consent of its existing lenders, and is expected to occur in approximately 90 days.
 United Medical Corporation's businesses include Holter and pacemaker monitoring; corporate medical services and physical examinations; computerized new drug applications and diagnostic testing for the pharmaceutical industry; and the manufacture of motorized treadmills and other fitness equipment.
 /delval/
 -0- 1/4/93
 /CONTACT: Deborah McKeever of United Medical, 609-354-2200/
 (UM)


CO: United Medical Corporation ST: New Jersey IN: HEA SU:

JS-MK -- PH013 -- 1268 01/04/93 11:13 EST
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Publication:PR Newswire
Date:Jan 4, 1993
Words:240
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