BANGOR, Maine, Nov. 12 Nyer Medical Group, Inc.(Nasdaq: NYER) announced that its pharmacy subsidiary, D.A.W., Inc. (DAW) hasentered into a Pharmacy Service Agreement with East Boston Neighborhood HealthCenter to manage its on-site clinic pharmacy for a two-year period effectiveOctober 6, 2008. Under terms of the agreement, DAW will receive a dispensingfee for each prescription dispensed in exchange for providing comprehensiveClinical Pharmacy and Pharmacy Management Services. Management estimates thatdispensing fee revenue will aggregate approximately $2 million per year. "TheEast Boston Neighborhood Health Center has been a community institution forover 35 years, having grown to manage and service close to 250,000 patientvisits per year, one of the highest numbers of any ambulatory care center inNew England. As such, we are pleased to have formed this affiliation," statedNyer President and CEO Mark Dumouchel. "The management relationship createsfurther efficiencies within our operational infrastructure and will have anoverall accretive effect on Nyer's earnings."
About Nyer Medical Group
Nyer Medical Group, Inc. is a holding company that through its subsidiaryoperates pharmacies and provides pharmacy management services to CommunityHealth 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 innature within the meaning of the Private Securities Litigation Reform Act of1995 and other federal securities laws. These statements are generallyidentified 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 andinclude our statements discussing our goals, beliefs, strategies, objectives,plans, prospects and opportunities, and our statements relating to (i) theanticipated impact to be derived from the contract with the East BostonNeighborhood Health Center (ii) our ability to further operationalefficiencies and fulfill the terms of the Agreement in a manner that will beaccretive to earnings. These statements are subject to known and unknownrisks, uncertainties, assumptions, and other factors that may cause actualresults to be materially different from those contemplated by theforward-looking statements. Such factors include: (i) the materialization ofanticipated dispensing activity and projected revenue, (ii) our ability tocost-effectively retain key employees, and (iii) other factors identified inour most recent Annual Report on Form 10-K filed with the Securities andExchange Commission. Except as required by law, Nyer Medical Group undertakesno obligation to release publicly the result of any revision to theseforward-looking statements that may be made to reflect events or circumstancesafter the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Nyer Medical Group, Inc.