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HEARx REPORTS CENTER EXPANSION AND RESULTS FOR FIRST FISCAL QUARTER

 WEST PALM BEACH, Fla., Feb. 16 /PRNewswire/ -- Paul A. Brown, M.D., chairman of HEARx Ltd. (NASDAQ: EARS), today reported that, with the acquisition of four centers on the West Coast of Florida and two centers in South Carolina plus the new center in Jupiter, Fla., the company is now operating 38 locations. When combined with centers currently under construction, this number is expected to expand to 42 by the end of the second quarter. The company expects to be operating 50 centers by the end of this fiscal year. Dr. Brown stated that this number is the critical mass for achieving the company's goal of profitability by the end of fiscal 1994.
 Dr. Brown stated that he was quite pleased with the results of the first quarter ending Dec. 31, 1992, which showed a 29 percent revenue increase to $1,902,110, a net loss of $689,315 versus revenues of $1,469,708 and a $491,492 loss in the similar period last year.
 He noted that the first quarter was negatively affected by the expenses incurred in acquiring and opening the new centers and increased personnel costs in anticipation of the expected growth for all centers in the second quarter. Significant revenues from the new centers were not achieved until after marketing commenced early in the second quarter. In fact, revenues for the company reached a record level in January 1993 of more than $725,000, compared with $500,000 in January last year, thereby making the fiscal year goal of exceeding $8.5 million a reasonable possibility.
 HEARx Ltd., the nation's largest network of independent auditory vestibular rehabilitative centers, has comprehensive state-of-the-art facilities offering a full range of diagnostics and rehabilitative services, and currently operates thirty-eight locations in New York, Florida, Georgia, South Carolina, Virginia and Oregon. HEARx currently has strategic alliances with Minnesota Mining and Manufacturing (3M), AARP Pharmacy Service, Human Health Care Plans, and Aetna Health Care Plans of New York.
 -0- 2/16/93
 /CONTACT: Paul A. Brown, M.D., chairman of the board of HEARx Ltd., 407-478-8770/
 (EARS)


CO: HEARx Ltd. ST: Florida IN: HEA SU: ERN

AH-OS -- NY086 -- 6801 02/16/93 12:44 EST
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Publication:PR Newswire
Date:Feb 16, 1993
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