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HEARx Adds Two New Florida Contracts WEST PALM BEACH, Fla.--Paul A. Brown, M.D., chairman of HEARx Ltd. (AMEX: EAR), announced today that HEARx has signed two (2) new contracts in the State of Florida with HEALTH PLANS OF AMERICA INC. and PREFERRED MEDICAL PLANS INC. HEARx will provide hearing care services initially to their managed care members in Palm Beach, Dade and Broward counties. The contract with Health Plans of America Inc., is unique in that a hearing aid benefit is covered on a per capita basis for both their Commercial and future Government Programs. Dr. Brown pointed out that nationally, patients are continuing to change from Medicare to Managed Care at a rate of 75,000 patients per month. At the present time, approximately 4 million of the 35 million Medicare members, up approximately 25% from last year, have changed to Managed Care...the type of patients that account for more than 80% of HEARx revenues. HEARx, the largest network of audio-vestibular rehabilitative centers in the $1 billion field of hearing services, operates over 60 company-owned centers in Connecticut, Florida, New Jersey, New York, Oregon and Virginia. The company provides hearing care primarily to patients whose health insurance and managed care organizations have contracted with HEARx. CONTACT: HEARx Ltd., West Palm Beach Stephen J. Hansbrough, 407/478-8770 ext.132 "Copyright(c) 1996, Business Wire" "Provided by Dow Jones & Company, Inc." HEARx Ltd. 1996 Target For Revenues To Exceed $20M "Dow Jones News Service" "Copyright(c) 1996, Dow Jones & Company, Inc." HEARx and Bio-logic Partner In Audio-vestibular Diagnostics MUNDELEIN, Ill.-- HEARx awards Bio-logic Systems multiple system contract Bio-logic(R) Systems Corp. (Nasdaq: BLSC) and HEARx Ltd. (AMEX: EAR) announced today their agreement to acquire Bio-logic's Electrodiagnostic products for HEARx's national chain of audio-vestibular rehabilitative centers. In the first phase, Bio-logic's Navigator(R) systems will be placed in 18 HEARx centers. Subsequently, up to 100 systems may be placed in additional centers within the next year. The Navigator is used to conduct electrophysiological assessment of the audio-vestibular system (Auditory Evoked Potentials and Electronystagmography tests). The system can be expanded to include the Scout(TM) option for Otoacoustic Emissions tests, a new Bio-logic product offering the newest method for hearing screening. HEARx, the largest network of audio-vestibular rehabilitative centers in the $1 billion field of hearing services operates over 60 company-owned centers in Connecticut, Florida, New York, New Jersey, Oregon and Virginia. The company provides hearing care primarily to patients whose health insurance and managed care organizations have contracted with HEARx. Bio-logic Systems Corp. a leading designer and marketer of computerized electrodiagnostic equipment, offers integrated laboratory and portable solutions to the Audiology, Otolaryngology, Neurology, Sleep, and Intraoperative Monitoring specialties worldwide. It commands the leading U.S. market share of Evoked Potential systems in the Audiology/Otolaryngology market, and Digital EEG systems in the Neurology market. Bio-logic's multi-purpose systems and HEARx's service programs offer a unique combination of cost-effective healthcare services without compromising standards of patient care. CONTACT: Bio-logic Systems Corp., Mundelein Gabriel Raviv (President and CEO) Israel Raz (Director of Marketing) 847/949-5200 "Copyright(c) 1996, Business Wire" "Provided by Dow Jones & Company, Inc." | ||||||||||||||
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