International Nursing Services Inc, old (NURS) new (MDIX) Message Board

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Microcap & Penny Stocks : International Nursing Services Inc, old (NURS) new (MDIX)

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To: peter michaelson who wrote (2261)	9/23/1998 8:38:00 AM
From: Rockhill	Read Replies (2) of 2911

NEWS--- DENVER, Sept. 22 /PRNewswire/ -- Medix Resources (OTC Bulletin Board: MDIX - news) today announced the completion of the sale of the company's New York contracts and certain other assets of its STAT Health Care and Ellis Home Care operations. These were purchased by Premiere Health Care, a privately held company based in White Plains, New York. Specific terms of today's transaction were not disclosed, though the company placed the total value of the transaction at approximately $1.6 million, subject to certain post-closing adjustments up or down. ''Although this sale will end our presence in the New York metropolitan area, we are confident at this time that the disposition of these assets is in the best interest of the company,'' commented John P. Yeros, chairman. ''Proceeds of the sale will reduce our indebtedness and provide additional working capital needed to support the company's existing operations.''

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