Coram (CRH)--has the turnaround begun Message Board

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Microcap & Penny Stocks : Coram (CRH)--has the turnaround begun

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To: leigh aulper who started this subject	7/31/2000 7:24:34 PM
From: leigh aulper	of 85

Coram Completes Sale of Rx Unit DENVER - July 31, 2000 - Coram Healthcare Corporation (OTCBB:CRHE) announced that effective today it has completed the previously announced sale for $41.3 million of its Coram Prescription Services unit, henceforth to be called CuraScript, to a management-led group financed by GTCR Golder Rauner, LLC. The sale generated approximately $38.0 million in cash after expenses. The cash proceeds are being used to pay the remaining outstanding principal balance under Coram Healthcare’s revolving line of credit of $28.5 million, and $9.5 million is being applied to the principal of the Series A notes. Following the debt payments, the outstanding balance on Coram Healthcare’s principal debt instruments -- Series A and Series B notes - will be approximately $251.0 million. “CuraScript is a good company and we will continue working with it closely in marketing and supplying certain pharmacy services related to our core infusion business and our employee benefits plan,” said Daniel D. Crowley, Chairman, President and Chief Executive Officer of Coram Healthcare. “The sale is part of our strategy to focus on our core infusion services business and to reduce debt.” Mr. Crowley added: “As discussed in recent press releases and SEC filings, we continue to believe that Coram Healthcare needs to take significant steps to permit it to remain compliant with Stark II regulatory requirements beginning January 1, 2001, create a capital structure that will allow the company to operate without an oppressive level of debt and deal with the $158.9 million repayment of the Series A notes due May 26, 2001.”

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