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Exhibit 99.1
NEWS RELEASE
January 8, 2001
Contacts: Paul S. Dunn, Investor Relations, or
Henry Blissenbach, Chairman and CEO,
at Chronimed Inc. (952) 979-3888
CHRONIMED ANNOUNCES UPDATE ON SALE OF DIAGNOSTIC UNIT
SALE OF MEDGENESIS TO MEDISYS HAS MET ALL CONDITIONS AND IS NOW CLOSED
MINNEAPOLIS, JANUARY 8, 2001 -- CHRONIMED INC. (NASDAQ: CHMD), announced today
that it has received antitrust clearance, and all other conditions have been
met, in the previously announced sale of the Company's Diagnostic Product
subsidiary, MEDgenesis, to Medisys PLC (London: MDY.L). As a result of these
approvals, the MEDgenesis sale closed on Friday, January 5, 2001. As previously
announced, the sale price of $40 million (US$) is comprised of approximately $30
million in cash and $10 million in MDY common stock.
Chronimed Inc. is a disease-focused drug distribution company serving the
prescription drug needs of people with selected chronic health conditions. The
Company distributes pharmaceuticals and provides specialized patient management
services nationwide for people with long-term chronic conditions such as
HIV/AIDS, organ transplant, and other diseases treated with oral and injectable
biotech medications. Chronimed works directly with patients, physicians, payors,
manufacturers, and wholesalers to improve clinical and cost-of-care outcomes.
Chronimed's web site address is www.chronimed.com.
