DEL MAR, Calif., Dec. 17, 2003 (PRIMEZONE) -- Eyemakers, Inc., (Pink Sheets:EYEM) a provider of specialty medical services announced today that they have entered into final negotiations to acquire two European eye and mobile surgery clinics. The two clinics, located in Milan and Rome, perform many types of ophthalmic surgeries, including, but not limited to Lasik and cataract procedures.
Eyemakers' initial $185,000 payment to acquire the two clinics has recently been converted into equity. The Company currently holds an equity stake in these operations with the option to purchase these facilities within a one year. Eyemakers is planning to use a debt instrument (interest and principle payable semi-annually) to complete this transaction. The anticipated increase in revenues from this acquisition is $3.8 MM in 2003 with a further increase to $6.0 MM in 2004. These increased revenues will be accomplished through expansion and better utilization of existing facilities, as well as adding dental and dialysis services.
Ernest Remo, Chief Executive Officer of Eyemakers, Inc., remarked, "We believe a final agreement will be reached to acquire the balance of these clinics in the first quarter of 2004. Negotiations for the financing necessary to acquire these centers are currently underway and we are confident that this transaction will close on schedule."
About Eyemakers, Inc
Eyemakers, Inc is an international multi-faceted medical services company providing advisory services and primary care facilities focusing on specialized care such as kidney dialysis, dental and eye specialties. The Company accomplishes this through its ownership of kidney dialysis centers and combination eye and dental surgery clinics. To learn more about this company visit the website at, http://www.eye-makers.com.
This press release contains forward-looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Act of 1995. These statements include risks and uncertainties that may make the company's plans change and are in no way intended to guarantee that the company will be successful in executing its plans. Eyemakers, Inc., common stock currently trades on the over-the-counter "Pink Sheets" under the symbol "EYEM." This press release in no way constitutes any recommendation regarding the securities of Eyemakers, Inc., or its affiliates. Though its securities are publicly traded, Eyemakers has failed to comply with its obligations to make periodic filings with the U.S. Securities and Exchange Commission. Accordingly, the nature and extent of information usually available to the public regarding companies whose securities are publicly traded are not available regarding Eyemakers, Inc. Any person reading this press release is advised that this release should be considered in light of all facts and circumstances regarding the business and financial condition and prospects of Eyemakers, Inc., and no inference is made that this release contains all such information.