PATIENT <PTI> CONSIDERING DEBT RESTRUCTURING
Patient Technology Inc said it
retained an investment banking firm to consider alternatives in
restructuring its long-term debt, including a possible exchange
offer for 20 mln dlrs of outstanding convertible debentures.
    On April one, it began consolidating sales, marketing and
manufacturing operations. The consolidation is expected to be
complete by June one and the company said it is now focusing on
restructuring its balance sheet. 
     The company said the first quarter will be adversely
affected by the consolidation effort.
    For the year ago first quarter, the company reported a
profit of 100,000 dlrs on 7.3 mln dlrs.
    The company further said that the second quarter will be 
transitional period and that earnings growth will resume in the
second half of 1987.
    For the year ended December 31, 1986, Patient reported a
net loss of 1.4 mln dlrs on sales of 29.8 mln dlrs, due to
write-offs from discontinued operations and a temporary backlog
of orders.
   
 Reuter
