Navigation Links
Nyer Medical Group Completes Acquisition of Minority Interest in Pharmacy Chain Subsidiary; Former Minority Shareholders Invest in Nyer Medical Group and Sign 3-Year Employment Agreements
Date:2/15/2008

Pharmacy Subsidiary opens New Pharmacy in Southborough MA and agrees to

open Second Pharmacy in Lynn MA

BANGOR, Maine, Feb. 15 /PRNewswire-FirstCall/ -- Nyer Medical Group, Inc. (Nasdaq: NYER) today announced that it has acquired the remaining 20% interest in its pharmacy chain subsidiary, D.A.W., Inc. d/b/a Eaton Apothecary on February 4, 2008. As consideration for the minority interest, the former minority shareholders received a cash payment of $1.75 million, convertible notes totaling $1.5 million bearing interest at 8% maturing in 3-years, a note for $350,000 bearing interest at 7% maturing in 5-years and newly issued class B-2 preferred stock with a mandatory conversion feature in 3 years and possessing of 4 million voting shares. In contemporaneous transactions, the former minority shareholders acquired 597,826 shares of the company's common stock from Nyle International for $1.1 million while the company acquired all of its outstanding shares of Class A and B preferred stock in exchange for a $400,000 promissory note bearing interest at a rate of 7% per annum maturing in 5 years. The company immediately retired the preferred shares. The pharmacy chain's primary supplier funded the cash portion of the transaction through an extension of payment terms.

Through the completion of the aforementioned transactions, the former minority shareholders now control approximately 58% of the voting power of Nyer. In a related series of events, Karen Wright resigned her position as president and CEO of Nyer while continuing as Secretary, Treasurer and Vice- President of Finance. Additionally, she, Dr. Kenneth Nyer and Mr. Donald Lewis resigned their board positions. Mark Dumouchel, president of the pharmacy cha
'/>"/>

SOURCE Nyer Medical Group, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3

Related medicine news :

1. MSU engineering team designs innovative medical device
2. ATS Medical to Present at the 2007 Thomas Weisel Partners Healthcare Conference
3. Providence St. Joseph Medical Center, Caregivers Reach Agreement on a Union Contract
4. Owner and Operator of Florida Durable Medical Equipment Company Convicted of Medicare Fraud
5. Father and Daughter From Tanzania Receive Their First Medical Examination in Newport Beach
6. Doctors and medical ethicist discuss whether doctors should participate in capital punishment
7. Preparation for Natural Disasters Critical for People With Diabetes, Chronic Medical Conditions
8. Doctors and Medical Ethicist Discuss Whether Doctors Should Participate in Capital Punishment
9. Symmetry Medical Completes Acquisition Of Specialty Surgical Instruments
10. Milestone Scientific Announces Successful Completion of its Collaboration Agreement With Carticept Medical
11. FDA Seeks to Regulate Complementary and Alternative Medicine; Products Such as Vegetable Juice Could Be Restricted for Medical Use
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/17/2014)... -- Expectant parents should leave prenatal picture-taking to medical ... Use of ultrasound imaging and heartbeat monitors to get ... agency warns. "Although there is a lack ... and heartbeat monitors, prudent use of these devices by ... FDA biomedical engineer, said in an agency news release. ...
(Date:12/17/2014)... HealthDay Reporter , TUESDAY, Dec. 16, ... America, and work commitment is a big reason why, new ... said Dr. Mathias Basner, an assistant professor of sleep and ... of Medicine. A time-use survey of nearly 125,000 Americans, ... main activity exchanged for sleep. Short sleepers -- those who ...
(Date:12/15/2014)... 15, 2014 South Florida’s leading urgent care ... can be a daze of hassle, hustle, and bustle that ... decking halls, to burns when making special meals and heartburn ... can happen at any time. To prevent this season of ... made a list of helpful and healthful holiday tips to ...
(Date:12/15/2014)... News) -- Expert pilots process visual information more efficiently ... better decisions during landings, a new study shows. ... pilots to master, and 36 percent of all airplane ... final approach and landing. Researchers monitored the brain ... pilots while they were at the controls of a ...
(Date:12/15/2014)... 15, 2014 At the leading, long-established ... AutismOne and Focus Autism will welcome ... research on the effects of toxins to children’s health, ... information. , Luminaries such as Dr. Lucija Tomljenovic ... with esteemed, credentialed colleagues of the United States to ...
Breaking Medicine News(10 mins):Health News:FDA Warns Against Fetal 'Keepsake' Videos 2Health News:Work Steals Valuable Sleep Time, Study Finds 2Health News:Work Steals Valuable Sleep Time, Study Finds 3Health News:MD Now Urgent Care Presents Healthy Holiday Tips 2Health News:MD Now Urgent Care Presents Healthy Holiday Tips 3Health News:Study Shows Why Expert Pilots Are Experts 2Health News:AutismOne and Focus Autism Collaborate on Scientific Conference; International Group of Researchers to Present in Chicago, May 2015 2Health News:AutismOne and Focus Autism Collaborate on Scientific Conference; International Group of Researchers to Present in Chicago, May 2015 3
... leading issue; exercise, physical changes, ... drug use also rank highly, ... C.S. Mott Children,s Hospital National Poll on Children,s Health (NPCH),identifies ten ... ages 11 to 17 during routine check-ups. The topics --,according to ...
... UC Davis Collaboration, RANCHO CORDOVA, Calif., Feb. ... leading supplier of innovative products and,services that process ... disease,and injury, today announced a regenerative medicine initiative ... a wholly-owned subsidiary, Vantus, Inc., a,veterinary stem cell ...
... medicine, experts say , , WEDNESDAY, Feb. 6 (HealthDay News) -- ... a small minority of HIV patients discover whether they should ... side effects. , The test detects sensitivity to the medication ... is linked to poor reactions to the medicine. , "This ...
... Danish researchers point to treatment of multiple risk factors ... with type 2 diabetes who are already showing signs of ... risk of death by treating multiple risk factors at once. ... published in the Feb. 7 issue of the New ...
... the Burnham Institute for Medical Research (Burnham Institute) have ... plays a suppressor role in skin cancer development. ... is the first step in the translation of genetic ... light and ionizing radiation. This function of ATF2 ...
... The Vilcek Foundation has announced the names of the recipients ... arts. Dr. Inder Verma is the prize recipient for ... Osvaldo Golijov. The Vilcek Foundation Prizes are awarded annually ... United States. , In explaining the motivation for ...
Cached Medicine News:Health News:Parents Identify Health Topics They Want Doctors to Discuss with Kids - New Research for University of Michigan Conducted by Knowledge Networks 2Health News:Thermogenesis Announces New Initiative to Address Veterinary Regenerative Medicine 2Health News:Thermogenesis Announces New Initiative to Address Veterinary Regenerative Medicine 3Health News:Thermogenesis Announces New Initiative to Address Veterinary Regenerative Medicine 4Health News:Test Detects Sensitivity to HIV Drug 2Health News:Aggressive Diabetes Therapy Lowers Death Risk, Study Finds 2Health News:Aggressive Diabetes Therapy Lowers Death Risk, Study Finds 3Health News:Gene found to play a suppressor role in skin cancer development 2Health News:Dr. Inder Verma named recipient of 2008 Vilcek Prize in biomedical science 2
(Date:12/17/2014)... 2014 , The ... hub of information concerning the biopharmaceutical Group,s national and international ... addition to the recently launched institutional website that is receiving ... enriched by a new chapter in the fascinating story of ... detailed and panoramic hub on the world of clinical research, ...
(Date:12/17/2014)... 2014 PCCA received the Autism Hope ... ) program seal for best practices in meeting ... medical practices, materials and goods that meet strict ... Children affected by autism often have unique physical ... ingredients found in food and medicine – for ...
(Date:12/15/2014)... Research and Markets , ... has announced the addition of the "Cardiac Guidewires ... their offering. Global Guidewires sector is projected to ... America accounts for nearly 35% (2015) of ... claims approximately 25% (2018). Asia-Pacific ...
Breaking Medicine Technology:Dompé Offers a New "Window" on the World of Scientific Research, with the http://www.dompetrials.com Website, Dedicated to Clinical Trials 2Dompé Offers a New "Window" on the World of Scientific Research, with the http://www.dompetrials.com Website, Dedicated to Clinical Trials 3Parents Of Children With Autism Spectrum Disorder Have New Options When Administering Medications 2Parents Of Children With Autism Spectrum Disorder Have New Options When Administering Medications 3Cardiac Guidewires - Global Trends, Estimates and Forecasts, 2012-2018 2Cardiac Guidewires - Global Trends, Estimates and Forecasts, 2012-2018 3Cardiac Guidewires - Global Trends, Estimates and Forecasts, 2012-2018 4
... management software - was designed by ... improvement tool helps diabetes care providers ... bridges medicine with technology by providing ... information technology product. This diabetes ...
... of diabetes in order to maintain tight control ... way to reduce or even prevent diabetes-related complications. ... a diabetes patients quality of life, however, is ... been the guiding factors in the development of ...
... the CGMS System Gold can assist you ... based on detailed glycemic profiles. Its also ... motivation and collaboration with patients.1, ,While ... all diabetes patients, it may be of ...
... The GlucoWatch G2 Biographer is intended for ... levels in adults (aged 18 and older) ... diabetes. Parents should supervise the use of ... G2 Biographer is intended to supplement, not ...
Medicine Products: