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Microcap & Penny Stocks : Hearx(EAR)

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To: DONNA DRANE who wrote (289)	11/12/1998 8:13:00 PM
From: Ron	Read Replies (1) of 383

A pretty effective report to stockholders with that last earnings report. And I was correct earlier..they add a big contract in New Jersey December lst. hearx.com By holding to the HEARx vision, we are continuing to strengthen and secure our position as the leading provider of hearing care to the managed care marketplace. Recently enacted State legislation (New York) combined with increasing hearing aid benefits from healthcare providers indicates that the hearing care industry continues to change for the better. By December 1, 1998 about 8.5% of the approximate 5.8 million Medicare eligible individuals will be covered by HEARx on a per member/per month payment basis for hearing care. In total, HEARx has more than 170 contracts for hearing care with various healthcare providers. HEARx offers a diverse selection of hearing aids dispensed by licensed professionals and is the only hearing care company accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO). We believe that competition among the managed care organizations for members will intensify in the core markets now serviced by us. It appears there will be restrictions or elimination of "open-ended" benefits such as pharmacy or dental care. We believe this will mean an expansion of "limited risk" benefits such as hearing care in order to attract new members. As a provider of hearing care primarily to the managed care market, we will grow as our contract providers grow with new members and into other markets. As previously announced, we recently formed a new company "HEARx West LLC"--a nationwide joint venture in hearing care with Kaiser Permanente. In addition to being a 50% owner of the venture, HEARx Ltd. has been contracted to manage the new company, ensuring the implementation of HEARx standardization and quality control. Construction has commenced in a number of sites and the first employee-training group has already started. The Company will be reimbursed annually over $1.5 million for its general and administrative costs associated with management of this venture. The initial 15 centers servicing the Southern California market are targeted to open in early January. Four additional centers are anticipated to open each quarter thereafter during 1999. The demographics of the market in Southern California indicate an annual expenditure of approximately $170 million per year for hearing care.

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