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.