WEST PALM BEACH, Fla., Aug. 13 /PRNewswire/ -- HearUSA will present at the following forum:
What: HearUSA will give a presentation at Informed Investors Healthcare Virtual Stocks Forum. Robin R. Young, CFA, Managing Director, Research Healthpoint Group, will deliver forum keynote at 9 am. When: August 17, 2004 @ 9:30 AM Eastern Time Where: http://www.informedinvestors.com/IIF_Forum.asp?ForumID=88540 How: Live over the Internet -- Simply log on to the web at the address above. Contact: Paul A. Brown, M.D., Chairman, pbrown@hearusa.com
If you are unable to attend the live event, the forum will be available via webcast at http://www.informedinvestors.com/IIF_Forum.asp?ForumID=88540.
HearUSA, Inc., with more than 150 company-owned centers in 11 states and 1 Canadian province and a network of 1,400 affiliated audiologists in 49 states, is the third largest provider in the $2.8 billion market for hearing care products in the U. S. The company services patients of managed care or other health insurance companies, as well as, self-pay consumers. HearUSA has contracts with more than 170 healthcare providers and more than 1.1 million members under capitation contracts (HearUSA receives a per member per month fee). The company grew substantially as a result of the acquisition of Helix Hearing Care of America Corporation in 2002. Revenues for the year ending September 2003 reached $70 million. HearUSA also has established an important strategic relationship with Siemens Hearing Instruments, Inc., the largest manufacturer of hearing aids in the world. As part of the agreement, the company received a unique credit facility in excess of $50 million from Siemens. In connection with the credit agreement, HearUSA and Siemens also entered into a supply arrangement that calls for HearUSA to purchase at least 80% of their hearing aids from Siemens in return for the liquidation of a portion of the outstanding debt and all associated interest. HearUSA centers are typically located in shopping centers and range from 1,000 to 2,500 square feet. Each facility is staffed by a licensed and credentialed audiologist or hearing aid dispenser and at least one patient care coordinator. Experienced audiologists supervise all clinical operations. HearUSA is accredited by the Joint Committee on Accreditation of Healthcare Organizations (JCAHO) as the only preferred provider organization in hearing care. Accredited institutions must meet stringent standards for patient care, quality control and consumer satisfaction.
FORUM CONTACT: Cary Loeser, Informed Investors, 804-327-3407, cloeser@wilink.com
Web site: http://www.informedinvestors.com
HearUSACONTACT: Paul A. Brown, M.D., Chairman of HearUSA, pbrown@hearusa.com;or Cary Loeser of Informed Investors, +1-804-327-3407, cloeser@wilink.com