Nyer Medical Group, Inc. Announces Pharmacy Service Agreement with East Boston Neighborhood Health Center
12 Novembre 2008 - 7:00PM
PR Newswire (US)
BANGOR, Maine, Nov. 12 /PRNewswire-FirstCall/ -- Nyer Medical
Group, Inc. (NASDAQ:NYER) announced that its pharmacy subsidiary,
D.A.W., Inc. (DAW) has entered into a Pharmacy Service Agreement
with East Boston Neighborhood Health Center to manage its on-site
clinic pharmacy for a two-year period effective October 6, 2008.
Under terms of the agreement, DAW will receive a dispensing fee for
each prescription dispensed in exchange for providing comprehensive
Clinical Pharmacy and Pharmacy Management Services. Management
estimates that dispensing fee revenue will aggregate approximately
$2 million per year. "The East Boston Neighborhood Health Center
has been a community institution for over 35 years, having grown to
manage and service close to 250,000 patient visits per year, one of
the highest numbers of any ambulatory care center in New England.
As such, we are pleased to have formed this affiliation," stated
Nyer President and CEO Mark Dumouchel. "The management relationship
creates further efficiencies within our operational infrastructure
and will have an overall accretive effect on Nyer's earnings."
About Nyer Medical Group Nyer Medical Group, Inc. is a holding
company that through its subsidiary operates pharmacies and
provides pharmacy management services to Community Health Centers
in the greater Boston area. 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 the East Boston
Neighborhood Health Center (ii) our ability to further operational
efficiencies and fulfill the terms of the Agreement in a manner
that will be accretive to earnings. 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) the materialization of anticipated dispensing
activity and projected revenue, (ii) our ability to
cost-effectively retain key employees, and (iii) other factors
identified in our most recent Annual Report on Form 10-K 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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