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Nyer Medical Group, Inc. Announces Pharmacy Service Agreement with East Boston Neighborhood Health Center
Date:11/12/2008

BANGOR, Maine, Nov. 12 /PRNewswire-FirstCall/ -- Nyer Medical Group, Inc. (Nasdaq: NYER) announced that its pharmacy subsidiary, D.A.W., Inc. (DAW) has entered into a Pharmacy Service Agreement with East Boston Neighborhood Health Center to manage its on-site clinic pharmacy for a two-year period effective October 6, 2008. Under terms of the agreement, DAW will receive a dispensing fee for each prescription dispensed in exchange for providing comprehensive Clinical Pharmacy and Pharmacy Management Services. Management estimates that dispensing fee revenue will aggregate approximately $2 million per year. "The East Boston Neighborhood Health Center has been a community institution for over 35 years, having grown to manage and service close to 250,000 patient visits per year, one of the highest numbers of any ambulatory care center in New England. As such, we are pleased to have formed this affiliation," stated Nyer President and CEO Mark Dumouchel. "The management relationship creates further efficiencies within our operational infrastructure and will have an overall accretive effect on Nyer's earnings."

About Nyer Medical Group

Nyer Medical Group, Inc. is a holding company that through its subsidiary operates pharmacies and provides pharmacy management services to Community Health Centers in the greater Boston area.

For further information contact Mark Dumouchel (508) 429-8506, ext. 16.

Safe Harbor for Forward-Looking Statements

Certain statements contained in this press release are forward-looking in nature within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These statements are generally identified by the inclusion of phrases such as "we expect"
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SOURCE Nyer Medical Group, Inc.
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