Nyer Medical Group, Inc. Announces Sale of Company's Florida Medical-Surgical Division; Pharmacy Division Awarded Two-Year Prefe
09 Julio 2008 - 7:30AM
PR Newswire (US)
BANGOR, Maine, July 9 /PRNewswire-FirstCall/ -- Nyer Medical Group,
Inc. (NASDAQ:NYER) announced that it has sold ADCO South Medical
Supplies, Inc., ("ADCO South") its Florida Medical-Surgical
division. Nyer further announced that its pharmacy division, D.A.W.
Inc., was awarded a two-year contract with Sunrise Senior Living,
Inc. to be the preferred pharmacy provider at all 16 of the
company's Assisted Living Facilities in Massachusetts. The award
was made at the conclusion of a competitive proposal submission and
review process. Residents at the facilities approximate 1,600. "We
strongly believe that the divestiture of ADCO South was in the best
interest of the shareholders. Its operation provided no synergies
to our core business and was at the same time geographically
cumbersome," stated President and CEO Mark Dumouchel. "We are
additionally enthusiastic about having been awarded preferred
vendor status by the Sunrise Assisted Living team. The awarding of
the contract by this first-class organization is consistent with
our strategic goals of being the area's top pharmacy niche
provider," Dumouchel further stated. "With the aging of the
baby-boomer population, we foresee a rapidly expanding demand for
the specialized services inherent in our core competence, and we
will continue to adapt our company to meet the needs of the
Assisted Living Community and other unique niches within the
market." About Nyer Medical Group Nyer Medical Group, Inc. is a
holding company that through its subsidiaries operates pharmacies
in the greater Boston area and a medical products business that
distributes and markets medical equipment and supply products to
hospitals, physicians and nursing homes using relationship-based
telemarketing, direct sales personnel, catalogs and the Internet.
These orders are filled by the company's distribution center
located in New England. For further information contact Mark
Dumouchel (508) 429-8506, ext. 16. Safe Harbor for Forward-Looking
Statements Certain statements contained in this press release are
forward-looking in nature within the meaning of the Private
Securities Litigation Reform Act of 1995 and other federal
securities laws. These statements are generally identified by the
inclusion of phrases such as "we expect", "we anticipate", "we
believe", "we estimate" and other phrases of similar meaning.
Forward- looking statements include all statements that are not
historical and include our statements discussing our goals,
beliefs, strategies, objectives, plans, prospects and
opportunities, and our statements relating to (i) the anticipated
impact to be derived from the contract with Sunrise Assisted
Living, (ii) the anticipated benefits to the business to be derived
from the aging population, (iii) our plans to meet the future needs
of the Assisted Living Community, expand and/or strengthen the
services we offer, and iv) our plans to achieve operational
synergies and revenue growth. These statements are subject to known
and unknown risks, uncertainties, assumptions, and other factors
that may cause actual results to be materially different from those
contemplated by the forward-looking statements. Such factors
include: (i) our ability to successfully integrate the Sunrise
Assisted Living Business, (ii) our ability to retain key employees,
and (iii) other factors identified in our most recent Annual Report
on Form 10-K and Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission. Except as required by law, Nyer
Medical Group undertakes no obligation to release publicly the
result of any revision to these forward-looking statements that may
be made to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events. DATASOURCE: Nyer
Medical Group, Inc. CONTACT: Mark Dumouchel of Nyer Medical Group,
Inc., +1-508-429-8506, ext. 16 Web site:
http://nyermedicalgroup.com/
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