Here is anothe press release just released this morning about Hearx:
HEARx Completes Florida Acquisition
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--June 10, 1998--HEARx Ltd. (AMEX:EAR) Paul A. Brown, M.D. announced today that HEARx acquired, for an undisclosed amount of cash, the customer list and selected assets of "The HEAR Center" which had been operating in Martin and St. Lucie Counties in Florida with annual revenues in excess of $600,000. Dr. Brown added that the transaction will make HEARx the largest provider of hearing care in these two Counties. HEARx expects improved profits from operations in this region as a direct result of the acquisition.
Dr. Brown affirmed the company's intention to make other selected acquisitions in the markets where HEARx operates centers in order to improve market share and/or to acquire qualified professionals.
HEARx, with the largest network of audio-vestibular rehabilitative centers in the $2 billion field of hearing services, operates 75 company-owned centers in Connecticut, Florida, New Jersey, New York, and Pennsylvania. The company provides hearing care primarily to patients whose health insurance and managed care organizations have contracted with HEARx, as well as to "self-pay" patients who are not covered by such insurance.
Certain of the statements made in this press release contain forward-looking information. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include the ability of the company to successfully combine the operations of The HEAR Center with the company's existing operations, the company's ability to identify and fund desirable acquisitions, and others which risks are described more fully in the company's Form 10K for fiscal year ended December 1997 and Form S-3 resale registration statement dated June 25, 1997.
CONTACT:
HEARx Ltd.
Paul A. Brown, M.D., 561/478-8770, ext. 123
or
Silverman Heller Inc., New York
Edward Silverman, 212/682-9222
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