BANGOR, Maine, Dec. 7 /PRNewswire-FirstCall/ -- Nyer Medical Group, Inc. today announced that Samuel Nyer, founder of Nyer Medical Group, Inc., has resigned as a director and chairman of the board of directors of the Company. In addition, Mr. Nyer has also resigned as the Company’s Vice President of Mergers and Acquisitions. Effective December 5, 2005, a Consulting Agreement (“Agreement”) was entered into between Samuel Nyer and Nyer Medical Group, Inc. Pursuant to the Agreement, Mr. Nyer’s employment with the Company was terminated, and he instead became a consultant to the Company with a non-officer title of Chairman Emeritus. Mr. Nyer is to be retained as a consultant of the Company for a period of two (2) years and shall receive a consulting fee of $17,500.00 per year.
Karen Wright, President and Chief Executive Officer of Nyer Medical Group, Inc., stated, “Sam will be missed by all and we offer him our very best wishes.”
Nyer Medical Group, Inc. is a holding company that operates pharmacies in the greater Boston area and a medical products distribution business that distributes and markets medical equipment and supply products to hospitals, physicians and nursing homes using relationship-based telemarketing, direct sales personnel, catalogs and the Internet. These orders are filled by the Company’s distribution centers located in New England and South Florida.
For further information contact Alliance Capital Resources, Inc., Jack Sutton (909) 597-2476.
Additional information concerning Nyer Medical Group, Inc. may be found on Nyer’s website http://www.nyermedicalgroup.com
Safe Harbor under the Private Securities Litigation Reform Act of 1995
This press release may contain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. All statements in this release that are not historical facts are forward-looking statements and are subject to risk and uncertainties. Nyer does not undertake any obligation to update these forward-looking statements.
Nyer Medical Group, Inc.
CONTACT: Jack Sutton of Alliance Capital Resources, Inc., +1-909-597- 2476
Web site: http://nyermedicalgroup.com//
