To all, from BW:
BW0087 JUN 23,1997 8:10 PACIFIC 11:10 EASTERN
( BW)(SYNCOR-INTL-CORP)(SCOR) Syncor's board authorizes additional
stock repurchase; shares also to be contributed to employees' stock-
ownership plan
Business Editors & Health/Medical Industry Writers
WOODLAND HILLS, Calif.--(BW HealthWire)--June 23, 1997--Syncor
International Corp. (NASDAQ:SCOR) Monday announced that its board of
directors, at the June 18 board meeting, approved the repurchase of
an additional 500,000 shares of the company's common stock, from
time to time, on the open market.
This is the fourth authorization given by the board of directors
since June 1994, bringing the total authorization to repurchase to
2 million shares.
The board of directors also authorized 250,000 shares of the
company's common stock be contributed from treasury stock to the
company's Employees' Savings and Stock Ownership Plan (ESSOP).
``The authorization given by Syncor's board of directors to
repurchase stock and contribute to the ESSOP is a continuation of a
program implemented in 1994, and reflects the board's confidence in
Syncor and the promotion of ownership among employees,'' said Robert
Funari, Syncor's president and chief executive officer.
Syncor International compounds and dispenses radiopharmaceutical
products -- in patient-specific unit doses and multidose form -- for
use in diagnostic imaging and therapy. Syncor distributes these
time-critical products through an expanding network of nuclear
pharmacy service centers -- 119 domestic and 10 international.
This network services more than 7,000 customers and is the only one
of its kind providing both diagnostic and information services to
hospitals and alternate-site, nuclear-medicine facilities nationwide.
Additionally, Syncor is broadening its business base beyond its
core commercial radiopharmacy operations. Through a joint venture
announced in February 1997, Syncor plans on expanding its presence
in the medical-imaging field.
Syncor anticipates operating 10 ``open'' magnetic resonance
imaging (MRI) centers across the United States during the first year
of operations. In addition, Syncor has entered the
radiopharmaceutical-manufacturing field with the purchase of an
iodine-123 business.
--30--tjm/la* db/la
CONTACT: Syncor International Corp., Woodland Hills
Mary L. Meusborn, 818/737-4643
Investor Web page, stockprofiles.com
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