Company Press Release
Source: Universal Medical Systems, Inc.
Universal Medical Receives $2.2 Million to Finance Acquisitions
Clearwater, Fla., June 6 /PRNewswire/ -- Universal Medical Systems, Inc. (OTC Bulletin Board:UMSI), a developer of
high technology medical diagnostic and treatment systems, announced today that, as part of its corporate capitalization
plan, Select Capital Advisors, a Miami-based investment banking firm, has arranged financing for a total of $2.2 million.
These funds are being utilized to support the company's product development and acquisition plans. To date, the
company has received $1.6 million from the sale of convertible high yield bonds, and $600,000 from debt financing. This
$600,000 debt financing has already been repaid by the company.
Myron A. Baker, President of UMSI, stated, ``We are dedicated to building shareholder value through the identification of,
and investment in, leading edge technologies in the medical field. UMSI provides the expertise and resources in
management, finance and market experience to provide long term growth through diversified holdings. Select Capital
Advisors represents a strong link to the capital that our company needs for sustained growth, and is an important partner
in our strategic development plans. Discussions are now under way for the next level of funding requirements, primarily
for additional acquisitions.''
Select Capital is an international financial services holding company with offices and affiliates world-wide, which provides
small to medium sized emerging growth companies with a wide range of investment banking services including
international equity offerings, structured finance, mergers and acquisitions, venture capital financing, and bridge loans.
Select's annual report dated January 15, 1997, announced successfully completed investment banking transactions
totaling more than $493 million for 1996.
According to Select's Chairman, Ronald G. Williams, ``Universal Medical is a strong company with an excellent
management team. When sufficiently capitalized, this company can develop from one with an enormous potential for
growth, into the reality of being an industry leader. Select is proud to be associated with financing the growth of this
company, and we will continue to support its expansion.''
SOURCE: Universal Medical Systems, Inc.
Contact: Myron A. Baker, Universal Medical Systems, 813-535-2022, or fax, 813-536-9707 |
