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HEARx ACQUIRES TWO HEARING CARE CENTERS IN MYRTLE BEACH, S.C., AND INTENDS TO MAKE AN OFFER TO PRIVATE WARRANT HOLDERS

 WEST PALM BEACH, Fla., Jan. 5 /PRNewswire/ -- Paul A. Brown, M.D., chairman of HEARx Ltd. (OTC Bulletin Board: EARS), announced today that HEARx had acquired the customer list and selected assets of two hearing care centers in Myrtle Beach, S.C. Dr. Brown stated that this location, a retirement and vacation site, is an ideal place for marketing hearing care services.
 The addition of these two centers brings the HEARx network to 37 locations in six states. Dr. Brown further stated that the company's goal is to have 50 centers in place prior to Sept. 30, 1993, the end of the next fiscal year. He believes this number of stores is sufficient to achieve the company's goal of profitability by Sept. 30, 1994.
 Dr. Brown also announced that to provide the company with additional working and expansion capital the company intends to make an offer to be open for approximately 30 days beginning on or about Jan. 18, 1993, to the holders of Warrants to acquire 1,106,250 shares (356,250 at $1.50 a share expiring in 1999; 750,000 at $2.00 per share expiring in 1996) the opportunity to exercise those Warrants at a material discount from current market when the offer is made and also issue a new 10 year non- callable Warrant at a price materially above current market.
 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 37 locations in New York, Florida, Georgia, Virginia, South Carolina and Oregon. HEARx currently has strategic alliances with Minnesota Mining and Manufacturing (3M), AARP Pharmacy Service, Humana Health Care Plans, and Aetna Health Care Plans of New York.
 -0- 1/5/93
 /CONTACT: Paul A. Brown, M.D., chairman of HEARx Ltd., 407-478-8770; or Edward Silverman of Silverman, Heller & Bond, 212-682-9222, for HEARx/
 (EARS)


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

SH-LR -- NY013 -- 1570 01/05/93 09:17 EST
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Publication:PR Newswire
Date:Jan 5, 1993
Words:335
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