As this company is just now beginning to grow and can grow into a sizeable organization, the stock number increase will not be that meaninfgul in the future. They have $20 million in cash to grow so there should not be any more equity financings. The increase was because it took many years for this company to get the HMO's to start paying part of hearing services and hearing aids as they had to do many private placements. I see nothing but positive situations for this company as 1998 should be the turning point for this company.
Also they issued another press release today.
WEST PALM BEACH, FL--(BUSINESS WIRE)--June 6, 1997--Paul A. Brown, M.D., chairman of HEARx Ltd. (AMEX: EAR) announced today that Alpha Health Care of Tallahassee, FL has selected HEARx as the exclusive provider for hearing care for their Medicaid members throughout the state. In addition, HEARx will be responsible for performing all diagnostic audiology tests for these members as well as providing any required hearing amplification.
Brown pointed out Alpha Health Care was selected by the state as a Medicaid provider in its recent competitive bid process. Alpha expects vigorous enrollment once the contract is in place.
HEARx, with the largest network of audio-vestibular rehabilitative centers in the $2 billion field of hearing services, operates 73 company-owned centers in Connecticut, Florida, New Jersey, New York, Pennsylvania, Oregon and Virginia. The company provides hearing care primarily to patients whose health insurance and managed care organizations have contracted with HEARx.
CONTACT:
HEARx Ltd.
Paul A. Brown M.D., 561/478-8770 ext. 123
I hope this gives you some more info.
hearx.com
or
Silverman Heller Inc.
Edward Silverman, 212/682-9222
KEYWORD: FLORIDA
INDUSTRY KEYWORD: MEDICINE
BW1011 JUN 06,1997
|
