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UNITED MEDICORP RAISES $1.115 MILLION THROUGH PRIVATE OFFERING

 DALLAS, Aug. 24 /PRNewswire/ -- United Medicorp, Inc. (Boston: UMI; Dow Jones ticker symbol UMCI) today announced that it had raised more than $1.1 million in equity capital through a private offering to offshore investors of 4 million shares of UMC common stock.
 Purchase price was $.28 per share resulting in net proceeds, after expenses, of approximately $1.115 million.
 "This additional capital will be used to expand our sales and marketing efforts and fund ongoing operating expenses," said Eugene W. Aune, president and chief executive officer of United Medicorp.
 United Medicorp provides third party healthcare claims processing, management, collection and accounting services for hospitals throughout the United States. The company recently reported a net loss of $242,514 for the second quarter 1993 compared to a net loss of $550,163 reported for the second quarter 1992.
 -0- 8/24/93
 /CONTACT: Pete Seaman, chief financial officer of United Medicorp, Inc., 214-360-5262/
 (UMI)


CO: United Medicorp, Inc. ST: Texas IN: HEA SU:

CK -- NY028 -- 5388 08/24/93 10:32 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
Words:172
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