Exhibit 20.1 Press Release
Contact: THOMAS E. HOEFERT
Chief Financial Officer
817-468-3377
INNOSERV TECHNOLOGIES, INC.-Registered Trademark-
320 Westway Place, Suite 520
Arlington, Texas 76018
INNOSERV TECHNOLOGIES, INC.-Registered Trademark- EXTENDS BANK LOAN
Arlington, TX, October 29, 1996 -- INNOSERV TECHNOLOGIES, INC. (NASDAQ -
ISER) reported that the expiration date of its $500,000 revolving line of
credit has been extended from October 12, 1996, to November 12, 1996. All
other terms of the line of credit remain the same. The Company requested the
extension when it was unable to complete replacement financing of its current
bank loan agreement with another financial institution on terms previously
negotiated with such financial institution prior to the October 12, 1996,
expiration date.
INNOSERV is currently holding discussions with its current lender and the
other financial institution concerning the terms of financing to replace the
Company's current bank loan agreement. The current agreement contains a
$1,500,000 term loan expiring January 30, 1999, and the $500,000 revolving
line of credit against which INNOSERV had outstanding borrowings of
$1,250,000 and $500,000, respectively at October 12, 1996. INNOSERV believes
that, prior to the November 12, 1996, expiration date of
the bank line of credit, terms of a new agreement will be reached or the
current lender will extend the line of credit further to allow discussions
for replacement financing to continue.
INNOSERV, through its various subsidiaries, provides comprehensive asset
management systems and services, multi-vendor maintenance and repair services
and other specialized services to radiology, cardiology, biomedical and
laboratory departments of hospitals and other healthcare providers.
# # #