Can anyone tell us abit more about the placement thats mentioned...

Can anyone tell us abit more about the placement thats mentioned in the latestMEDICAL MONITORS LIMITED 2002-04-29 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
Pursuant to Listing Rule 3.1, Medical Monitors Limited ("Medical
Monitors") advises that the following information has been provided
to Terrain Capital and Terrain Securities (jointly "Terrain") in
connection with Terrain's assistance to the Medical Monitors with
regard to a proposed 'private placement' for fully paid ordinary
shares in the company. Information that has not previously been
disclosed to the ASX includes sales forecasts and recent company
operations update.

KEY POINTS

* Cash flow positive Qtr 3 2002
* US operations poised for sales Qtr 2 2002
* A Strategic joint venture alliances formed in UK and Europe

COMPANY UPDATE

* A Manufacturing contracts have been finalised with Bosch + Sohn and
the first production run 4,000 BPfones have been completed. An
additional 5,000 BPfones are being prepared for manufacture.

* Prize winner in the UK National Health Scheme (NHS) sponsored
prestigious 2002 Healthcare IT Effectiveness Awards for Best Use of
IT in Primary Care. The award recognises excellence in healthcare
information management.

* Primary Care Group Ltd, the UK joint venture partner, has
contracted with the Watford Primary Care Trust and AstraZeneca
Pharmaceuticals, to provide the BPfone blood pressure monitoring
system as a model for National Medicines Management Program. if
successful, this model may be the basis for the management of blood
pressure throughout the UK.

OVERVIEW

Medical Monitors' products and services have been developed over the
past five years, and have now received worldwide acceptance in the
health care market. In particular, the technology allows for
patients, who may have a cardiovascular problem, to use Medical
Monitors portable recording devices in an 'out of clinic' setting and
transmit recorded ECG or blood pressure data over the telephone for
analysis and report.

In Australia, the company has sales revenue generated from the
WELLness blood pressure monitoring service and the BPfone blood
pressure monitors, in addition to the HEARTLINE monitoring service
using the Portable ECG Recorder (PER) to monitor elusive heart rhythm
(ECG).

In the USA, Wellness Monitoring Inc, a wholly owned subsidiary of
Medical Monitors, has established a service facility in California.
Elsewhere, a number of trial blood pressure monitoring services have
been established in Asia, Europe and the UK and will form the basis
of new joint venture business opportunities in those regions.

SERVICE COMMERCIALISATION - AUSTRALIA

At present, sales effort is being focused in the pharmaceutical
market where the BPfone TM is provided to GPs to assist in the
management of their patients' blood pressure problems. It Is expected
that 4,500 units will be sold in Australia in 2002. Each unit of sale
includes at least one year's service. Initial supplies to the retail
market are expected In 2003 via pharmacy outlets. Revenue from
Australia is forecast to be $1.4m in 2002.

Having successfully commercialised these services in Australia,
Medical Monitors is now seeking to implement joint venture and
distribution strategies to achieve significant penetration of the
cardiac monitoring diagnostic market internationally, with emphasis
on blood pressure monitoring.

INTERNATIONAL BUSINESS

USA

Medical Monitors operates in three major market Sectors:

RETAIL MARKET:

In 2002 Medical Monitors plans to sell blood pressure units to the
public through a home shopping channel, QVC, and major retail
pharmacy chains. The Company views as conservative the projected
sales volume of 5,625 units for 2002. Beyond the current year units
will also be marketed through national retail chains.

MANAGED CARE MARKET:

This market involves the sales of unit-, to home health care
management operators to monitor patients under their care, In 2002
IVIDM expects to sell 550 units, with significant growth anticipated
from this sector in 2003.

PHARMACEUTICAL COMPANIES:

The pharmaceutical companies distribute the units as promotional
products to doctors whose patients are testing the company's drugs.
The expected sales to this market for 2002 are 5,000 units. It is
expected that the United States will be a strong generator of revenue
in the near future.

UNITED KINGDOM

Medical Monitors has signed an MOU with the Primary Care Group, Plc,
(PCG) and is finalising a 50-50 joint venture in the UK. The joint
venture will provide the Wellness Monitoring Service (for blood
pressure) with a number of monitoring program opportunities within
the UK health system, as well as the pharmaceutical industry.

PCG provides IT-based services in medical management to local health
authority primary care trusts (PCTs), within the National Health
system. The company has developed a number of management programs,
aimed at improving health cost outcomes for the local PCTs in meeting
their National Health Schemes budgetary targets, particularly in
cardiovascular disease. Medical Monitors technology can provide the
out-of-hospital monitoring interface for these programs.

In 2002 MDM forecasts sales of 10,000 units to the joint venture at a
transfer price, which provides a gross profit of $500,000. The joint
venture markets and sells the units to customers, and provides the
ongoing reporting service and technical support.

Total profit contribution from UK in 2002 is forecast to be A$2.3m.

EUROPE

Medical Monitors has finalised a manufacturing agreement with Bosch +
Sohn, the leading European manufacturer of blood pressure
Instrumentation in Germany, to manufacture the BPfone product
worldwide. Medical Monitors is also finalising an MOU with Bosch +
Sohn for a joint venture to undertake the distribution and marketing
of the Wellness Monitoring Service into Europe. Bosch + Sohn has
specialised in quality blood pressure instrumentation, over the past
35 years, and is the leading blood pressure monitoring product
distributor in Europe.

It is anticipated that sales will commence in the third quarter 2002.
Sales revenue from Europe has not been factored into the accounts for
2002 and 2003 as marketing plans and projects are not finalised.

FINANCIALS

Revenue forecasts are based on sales of 24,375 BPfone monitors and
service in 2002 and 56,400 in 2003. The estimated revenue and profit
forecast for 2002 and 2003 are as follows:

YEAR ENDING 31 DECEMBER (A$M) 2002 2003

Revenue
USA 2.4 10.8
Australia 1.4 3.3
UK Contribution 2.3 3.4
Total Revenue 6.1 17.5


Product & Service Costs
Manufacturing 1.4 4.2
Australia 1.0 2.0
USA 1.5 2.6
Total Costs 3.9 8.8

Operating Profit 2.2 8.7

Administration expenses 1.2 2.7
EBITDA 1.0 6.0

Depreciation and Amortisation expense 1.1 1.2
EBIT -0.1 4.8


Interest expense - -
Profit Before Tax -0.1 4.8

Income Tax Expense (1) - -0.7
Profit After Tax -0.2 4.1

(1) Tax losses - A$2.5 million of tax losses were carried forward
into 2002 financial year ("FY")

Sensitivity Analysis - 10% increase in sales units will result in an
increase in EDITDA for 2003 to approximately $7.3m, while 10%
decrease in sales units will result in a reduction in EBITDA for 2003
to approximately $4.7m.

Dividend Policy - The Company is geared towards growth until the
targets of market penetration are well advanced. The Directors intend
to distribute dividends to shareholders when the financial
performance of the Company is able to support the payment of
dividends. However, the Directors do not guarantee any dividend
payments.

FUTURE GROWTH

Total unit sales worldwide are expected to grow to 56,400 in 2003
based on conservative projections for USA, UK and Australia. Based on
this forecast pre-tax profit should increase to about $6.0m.

Forecast cash flows for 2002 do not include revenues from proposed
joint venture opportunities from Europe and Asia. Marketing plans and
the joint venture partners are preparing cash flow projections. In
particular, the business opportunity generated through the European
joint venture Bosch + Sohn should prove to be sizeable given this
company's market share.

Beyond the current year 2002 considerable scope exists to expand into
Europe and Asian markets in 2003.

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