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Microcap & Penny Stocks : Hearx(EAR) -- Ignore unavailable to you. Want to Upgrade?

To: JR who wrote (230)	2/17/1998 9:51:00 AM
From: CONANN	Respond to of 383

Here is a nice press release that was published today: FOR IMMEDIATE RELEASE COMPANY CONTACT: Paul A. Brown, M.D. Chairman of the Board (561) 478-8770 Ext. 123 Weber/RBB Contact: Sandy Baksys (305) 448-7450 CIGNA HEALTHCARE AWARDS NATION-WIDE CONTRACT TO HEARx WEST PALM BEACH, FL, February 17, 1998 -- HEARx Ltd. (AMEX:EAR) today announced that it has signed a national agreement with CIGNA Healthcare to provide hearing care services. Paul A. Brown, M.D., Chairman of HEARx Ltd., hailed the new CIGNA contract as "a very exciting milestone in the growth of our Company and our industry." He added, "More than anything, it is a vote of confidence from the national marketplace for HEARx's brand of professional hearing care." HEARx was selected because of the level of quality control systems in place and the standardization of the company's products, services and prices. HEARx audiologists will treat CIGNA's Medicare members through HEARx's wholly-owned centers, selected networks of affiliated providers, and new company-owned centers to be established in some regions. Affiliated audiologists will be credentialed, inspected and monitored by the HEARx Quality Assurance Department. In addition to providing hearing services to the Medicare population, in this same national agreement, a provision exists for HEARx to provide basic and diagnostic audiology for those many commercial (non-Medicare) programs that exist in the CIGNA organization. Dr. Brown added, "Although this is the first nationwide contract in the field of hearing care, HEARx is in discussions with several other managed care organizations, all of whom would benefit from the same HEARx network." HEARx, with the largest network of audio-vestibular rehabilitative centers in the $2 billion field of hearing services, operates 74 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. 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 are described in the Company's filings with the Securities and Exchange Commission, including the Form S-3 resale registration statement dated June 25, 1997.