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UNITED MEDICAL REPORTS FIRST QUARTER RESULTS

 HADDONFIELD, N.J., April 23 /PRNewswire/ -- United Medical Corporation's (AMEX: UM) net income for the first quarter of 1993 was $669,000 or $.26 per share vs. $1,150,000 or $.43 per share in 1992 on 2,590,000 shares and 2,671,000 shares, respectively.
 The 1992 results include a benefit of $825,000 or $.31 per share, for the cumulative effect of adopting Statement of Financial Accounting Standards (SFAS) No. 109, "Accounting for Income Taxes."
 Revenue for the quarter was $15,014,000 in 1993 compared to $12,429,000 in 1992. Operating income increased to $583,000 in 1993 from $488,000 in 1992. Pre-tax income, which increased to $1,079,000 in 1993 from $563,000 in 1992, includes a gain of $419,000 relating to the sale of marketable securities. Income for the quarter ended March 31, 1993, was $699,000 or $.26 per share vs. $325,000 or $.12 per share a year ago, before the cumulative effect of adopting SFAS No. 109. Pyramid Fitness, acquired Feb. 1, 1993, contributed revenues of $693,000 and incurred an operating loss of $95,000 in the quarter.
 United Medical previously announced that its board of directors has authorized, subject to shareholder approval, the acquisition, through a merger transaction, of all of its outstanding common stock, other than shares owned by its principal shareholders, for $9.50 per share, payable in cash. A special shareholders meeting to approve this transaction will be held at 9 a.m. on May 13 at Tavistock Country Club, Tavistock, N.J.
 United Medical also declared a quarterly dividend of $.05 per share of common stock payable May 14, 1993, to holders of record as of May 4.
 UNITED MEDICAL CORPORATION
 Condensed Consolidated Statements of Income (unaudited)
 Period ended Quarter
 March 31 1993 1992
 Total revenue $15,014,000 $12,429,000
 Operating income (pre-tax) 583,000 488,000
 Pre-tax income before cumulative
 effect of change in accounting 1,079,000 563,000
 Income taxes 410,000 238,000
 Income before cumulative effect 669,000 325,000
 Cumulative effect of change in
 accounting --- 825,000
 Net income 669,000 1,150,000
 Earnings per share:
 Income before cumulative effect $.26 $.12
 Cumulative effect of change in
 accounting .00 .31
 Net income .26 .43
 Weighted aver. shares outstanding 2,590,000 2,671,000
 Condensed Consolidated Balance Sheet Information (unaudited)
 March 31, 1993 Dec. 31, 1992
 Current assets $26,684,000 $29,950,000
 Total assets 45,474,000 46,424,000
 Current liabilities 10,738,000 12,045,000
 Long-term debt 5,924,000 6,032,000
 Shareholders' equity 27,856,000 27,317,000
 Shareholders' equity
 per share (A) $10.76 $10.55
 (A) Based upon 2,590,000 common shares for 1993 and 1992.
 /delval/
 -0- 4/23/93
 /CONTACT: Deborah McKeever of United Medical, 609-354-2200/
 (UM)


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

MJ-MK -- PH014 -- 0057 04/23/93 12:26 EDT
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Date:Apr 23, 1993
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