Similar Value Play Tuesday November 2, 10:00 AM ET
Company Press Release
SOURCE: Nyer Medical Group, Inc.
Nyer Medical Group Creates New Internet Subsidiary;
Nyer Internet Companies, Inc.
BANGOR, MAINE November 2, 1999 / PR Newswire / Nyer Medical Group, Inc.
(NASDAQ: NYER ? news) announced today that it is creating a new subsidiary for its
diversified e-commerce companies, integrating its medical products businesses with its
internet division.
Signaling its commitment to its Internet business, management will be focusing on an
aggressive strategy to incorporate its strong assets and brick and mortar medical
businesses with its current and future Internet companies. The Company is pursuing
investment banking expertise to accelerate this strategy which will bring capital,
acquisitions, market support and specialized management to this division. Management
plans to spin-off a percentage of the stock in the new subsidiary to its shareholder?s
which is consistent with the Company?s desire to build shareholder value and at the same
time create a new platform for the development of companies. Shareholder participation
to be announced within ten (10) days.
?These changes reflect our staunch commitment to developing our Internet business,?
said Nyer Medical Group President and Chief Executive Officer, Samuel Nyer. ?This
structure,? Nyer said, ?positions the Company to take full advantage of the enormous
business opportunities and the massive influx of investment capital made available for
Internet business. Our ultimate goal is to continue to create shareholder value and this
new division supports that goal.?
The new division will be comprised of the Company?s current sites as well as a multitude
of registered domain names that the Company holds for future development. The
Company presently has several sites under construction. All of the sites will be supported
by the Company?s current distribution system that can deliver 95% of its current product
line anywhere nationwide.
The Company is a holding company with operations in the medical products distribution
and services businesses, retail pharmacy business, emergency equipment and supplies,
and the development of Internet and e-commerce companies.
For further information contact Tom Raack or Jack Sutton, Alliance Capital Resources,
Inc. at (949) 760-9000 or Samuel Nyer at (207) 989-3106.
Profile at solidstocks.com |
