|By PR Newswire||
|December 27, 2013 08:02 AM EST||
HANOVER, Md., Dec. 27, 2013 /PRNewswire/ -- The SETO Hearing Care Group (HCG) envisions the installation of 100 new clinics throughout the US. The HCG is close to completing phase 1 of its expansion plan: the installation of 10 new hearing care clinics with an additional 28 clinics currently in the pipeline. In addition to the establishment of new, independent hearing clinics, SETO's HCG is in negotiations with various multi-location medical practices to offer HCG's services through their existing sites.
SETO's health division (SHD) is developing a multi-disciplinary health based approach by offering a broader range of specialized medical services. To further this goal, SHD is developing four Diabetes clinics and a surgical center in central Maryland. Seto continues to expand services to other medical specialties. The broad healthcare mix will provide Seto diversification, an expanded referral base for its HCG and shall improve its overall performance.
To cope with the effects of the recession, Seto has pursued a medical model through its HCG. During the recession it abandoned the "dispensing" model for hearing aid sales and disposed of its related holding in Advanced Hearing Centers, Inc. (AHCI). SETO intends to re-negotiate/refinance and pay down significant debt and obligations accumulated by its subsidiaries, including a credit line of $1,000,000 its subsidiary obtained in 2012. SETO's international division has made significant progress in the establishment of a state of the art hospital facility in India, as well as associated ancillary services (Energy, Water Purification, etc). It has garnered the support of governmental agencies and community townships for the purpose.
Forward-Looking Statements: Statements in this new release regarding future operating results, future expansion, growth, opportunities and any other statements about its future expectations, beliefs, goals, plans, or prospects constitute forward-looking statements. Any statements that are not statements of historical fact (including the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) are also forward-looking statements. Many factors could cause actual results or events to differ materially from those indicated above, including: limited operating history, need for future capital and economic conditions. Forward-looking statements are based on the beliefs, opinions, and expectations of management at the time they are made. The public company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.
SOURCE Seto Holdings, Inc.