FORM 10-Q

                    SECURITIES AND EXCHANGE COMMISSION

                          WASHINGTON, D.C.  20549




                Quarterly Report under Section 13 or 15(d)
                  of the Securities Exchange Act of 1934

                   For the Quarter Ended September 30, 1999


             Commission File Number               000-20175

                             NYER MEDICAL GROUP, INC
          (Exact name of registrant as specified in its charter)


                   Florida                                01-0469607
        (State or other jurisdiction of                (I.R.S. Employer
        incorporation or organization)                 Identification No.)


           1292 Hammond Street, Bangor, Maine                04401
        (Address of principal executive offices)          (Zip Code)


                              (207) 942-5273
              (Registrant's telephone number, including area code)





Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding twelve months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.  Yes    X   .   No       .

As of November 22, 1999, there were outstanding, 3,407,093 shares of common
stock,par value $.0001 per share.





FORM 10-Q          NYER MEDICAL GROUP, INC.  000-20175        September 30, 1999




                                     INDEX

                                     PART I

                             FINANCIAL INFORMATION


                                                                   Page No.

  Item 1.  Financial Statements:


           Consolidated Balance Sheets, September 30, 1999
                and December 31, 1998                                3-4


           Consolidated Statements of Operations, Three Months
                Ended September 30, 1999 and September 30, 1998      5


           Consolidated Statements of Operations, Nine Months
                Ended September 30, 1999 and September 30, 1998       6



           Consolidated Statements of Cash Flows, Nine Months
                Ended September 30, 1999 and September 30, 1998      7-8


           Notes to Consolidated Financial Statements               9-10


  Item 2.  Management's Discussion and Analysis of
                Third Quarter 1999 Results                         11-16



                          PART II - OTHER INFORMATION

  Item 3.  Other Information                                         16


           Signatures                                                16










FORM 10-Q        NYER MEDICAL GROUP, INC   000-20175        September 30, 1999

                  NYER MEDICAL GROUP, INC AND SUBSIDIARIES
                        CONSOLIDATED BALANCE SHEETS

                                    ASSETS
                                         (Unaudited)
                                        September 30,    December 31,
                                              1999           1998
Current assets:
  Cash and cash equivalents             $ 2,532,756    $ 4,136,988
  Accounts receivable, less
    allowance for doubtful accounts
    of $165,998 at September 30, 1999
    and $188,076 at December 31, 1998     3,330,837      3,560,377
  Inventories, net                        4,545,702      4,073,051
  Prepaid expenses                          175,892        105,045
  Receivables from related parties           48,670         48,139

            Total current assets         10,633,857     11,923,600

Property, plant and equipment, at
  cost:
  Land                                       92,800         92,800
  Building                                  641,508        641,508
  Leasehold improvements                    517,306        381,702
  Machinery and equipment                   282,844        223,807
  Transportation equipment                  316,524        260,285
  Office furniture, fixtures,
    and equipment                           972,330        805,748

                                          2,823,312      2,405,850
  Less accumulated depreciation
    and amortization                     (1,079,235)      (902,872)

                                          1,744,077      1,502,978
Goodwill and other deferred assets,
  net of accumulated amortization of
  $486,575 and $386,171 at September 30,
  1999 and December 31, 1998,
  respectively                              702,405        802,809
Advances due from related companies          31,254         34,488
Other                                       143,386        148,167

                                            877,045        985,464

            Total assets                $13,254,979    $14,412,042






     See accompanying notes to consolidated financial statements.

FORM 10-Q        NYER MEDICAL GROUP, INC   000-20175        September 30, 1999
                  NYER MEDICAL GROUP, INC AND SUBSIDIARIES
                        CONSOLIDATED BALANCE SHEETS

                  LIABILITIES AND SHAREHOLDERS' EQUITY

                                         (Unaudited)
                                          September 30,    December 31,
                                              1999         1998

Current liabilities:
  Notes payable due related parties      $   120,000    $  120,000
  Current portion of long-term debt          358,560       236,669
  Accounts payable                         2,828,145     2,627,292
  Accrued payroll and related taxes          188,770       206,465
  Accrued expenses and other
    liabilities                               14,150       322,753

           Total current liabilities       3,509,625     3,513,179


Notes payable due related party,
  net of current portion                     462,820       522,820
Long-term debt, net of current
  portion                                    380,794       480,711
Minority interest                            652,163       744,357
Deferred credits                              78,707       118,109

Shareholders' equity:
  Class A Preferred stock, par value
    $.0001, Authorized, issued and
    outstanding: 2,000 shares                      1             1
  Class B Preferred stock, series 1,
    par value $.0001, Authorized:
    2,500,000; issued and outstanding:
    1,000 shares at September 30, 1999 and
    December 31, 1998
  Common stock, par value $.0001
    Authorized: 10,000,000 shares;
    issued: 3,407,093 at September 30, 1999
    and December 31, 1998                        341           341
   Additional paid-in capital             15,238,376    15,238,376
   Stock sale receivable                    (115,500)     (115,500)
   Treasury stock (11,000 shares at
    September 30, 1999 and
    December 31, 1998)                       (52,249)      (52,249)
   Accumulated deficit                    (6,900,099)   (6,038,103)

     Total shareholders' equity            8,170,870     9,032,866

            Total liabilities and
              shareholders' equity       $13,254,979   $14,412,042

     See accompanying notes to consolidated financial statements.

FORM 10-Q        NYER MEDICAL GROUP, INC   000-20175        September 30, 1999
                       NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
                CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited)

                                           Three Months Ended
                                     September 30,      September 30,
                                           1999           1998

Net sales                               $9,897,925     $9,345,308

Cost and expenses:
  Cost of goods sold                     8,073,012      7,444,928
  Selling and retail                     1,474,227      1,528,630
  Warehouse and delivery                    90,668         74,180
  Administrative                           640,841        575,326
                                        10,278,748      9,623,064

        Operating (loss) income           (380,823)      (277,756)

Other income (expense):
  Interest expense                         (20,992)       (51,831)
  Interest income                           42,114        106,364
  Other                                     19,830         65,327
        Total other income                  40,952        119,860

         (Loss) income before
         minority interest                (339,871)      (157,896)
 Minority interest                          32,124         22,317
     Loss from continuing operations      (307,747)      (135,579)

Discontinued operations
     Loss from operations of discontinued
       subsidiary-Genetic Vectors                        (151,970)
     Gain on sale of Genetic Vectors'
       stock                                              122,319
       Loss from discontinued subsidiary
         Genetic Vectors                                  (29,651)

       Net Loss                         $ (307,747)    $ (165,230)

  Basic and diluted loss per common
    share from continuing operations    $     (.09)    $     (.04)
  Basic and diluted loss per common
    share from discontinued operations                       (.01)
  Basic and diluted loss per
    common share                        $     (.09)    $     (.05)
Weighted average common shares
    outstanding                          3,407,093      3,396,093



     See accompanying notes to consolidated financial statements.



FORM 10-Q        NYER MEDICAL GROUP, INC   000-20175        September 30, 1999
                  NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
               CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited)


                                        Nine Months Ended
                                      September 30,      September 30,

                                           1999           1998

Net sales                               $28,856,497     $26,935,777

Cost and expenses:
  Cost of goods sold                     23,450,600      21,175,500
  Selling and retail                      4,264,349       4,223,040
  Warehouse and delivery                    262,853         245,920
  Administrative                          2,006,935       1,867,867
                                         29,984,737      27,512,327

        Operating loss                   (1,128,240)      (576,550)

Other income (expense):
  Interest expense                         (65,473)        (94,029)
  Interest income                          161,389         241,992
  Other                                     78,134          75,570
        Total other income                 174,050         223,533

         Loss before minority interest    (954,190)       (353,017)
 Minority interest                          92,194           4,471

     Loss from continuing operations
       before income taxes                (861,996)       (357,488)

Discontinued operations
     Loss from operations of discontinued
       subsidiary-Genetic Vectors                         (465,080)
     Gain on sale of Genetic Vectors'
       stock                                               269,181
       Loss from discontinued subsidiary
         Genetic Vectors                                  (195,899)
       Net Loss                         $ (861,996)     $ (533,387)

  Basic and diluted loss per
   common share from continuing
    operations                         $     (.25)      $     (.10)
  Basic and diluted loss per common
    share from discontinued
    operations                                                (.06)
  Basic and diluted loss per
    common share                       $     (.25)      $     (.16)
Weighted average common shares
    outstanding                         3,407,093        3,403,426


     See accompanying notes to consolidated financial statements.
FORM 10-Q        NYER MEDICAL GROUP, INC   000-20175        September 30, 1999
                   NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (Unaudited)
                                         September 30,      September 30,
                                           1999           1998
  Cash flows from operating
      activities:
  Net loss                              $ (861,996)    $ (553,387)
  Adjustments to reconcile to net cash
      used in operating activities:
  Loss of unconsolidated
      subsidiary                                          465,080
  Depreciation and amortization            374,808        274,283
  Gain on disposal of property, plant
      and equipment
  Gain on sale of pharmacy                 (25,000)
  Minority interest                        (92,194)       (4,471)
   Changes in certain working capital
      elements                            (715,114)      (441,204)
      Net cash flows used in
           operating activities         (1,319,496)      (259,699)

Cash flows from investing activities:
  Purchase of property, plant and
      equipment                           (384,573)      (442,474)
  Proceeds from sale of pharmacy            50,800
  Proceeds from sale of Genetic
      Vectors' stock                                      397,467
  Proceeds from sale of other
      equity securities                                    59,783
  Net change in advances due from
      related companies                      3,234          4,508
  Decrease (increase) in other
      assets, net                            4,781       (114,781)
      Net cash used in investing
           activities                     (325,758)      (254,830)

Cash flows from financing activities:
  Proceeds from issuance of
      long-term debt                       265,000        176,971
  Payments of long-term debt              (163,978)      (178,752)
  Net (repayments to)proceeds from
      notes due related parties            (60,000)       (13,456)
  Payments for purchase of treasury stock                 (52,249)

      Net cash provided by
           financing activities             41,022        (67,486)
Net decrease in cash
      and cash equivalents              (1,604,232)      (582,015)
Cash and cash equivalents at
      beginning of period                4,136,988      4,497,010
Cash and cash equivalents at
      end of period                     $2,532,756     $3,914,995
     See accompanying notes to consolidated financial statements.
FORM 10-Q        NYER MEDICAL GROUP, INC   000-20175        September 30, 1999

                  NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (Unaudited)

                                  September 30,    September 30,
                                    1999         1998


Changes in certain working capital
     elements:
  Accounts receivable, net      $  229,540   $ (520,463)
  Inventories                     (472,651)    (419,368)
  Prepaid expenses                 (70,847)     (15,978)
  Receivables from related parties    (531)     (24,095)
  Decrease in deferred credits     (39,402)     (38,318)
  Accounts payable                 (34,925)   1,013,540
  Accrued payroll and related
      taxes                        (17,695)     (19,622)
 Accrued expenses and other
      liabilities                 (308,603)    (167,692)
     Net change                 $ (715,114)  $ (191,996)





                                  Nine Months Ended


                                  September 30,   September 30,
                                    1999        1998

Cash paid during the first
    nine months:
     Interest                   $   60,541   $   94,029


















FORM 10-Q        NYER MEDICAL GROUP, INC   000-20175        September 30, 1999
               NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

1.  The consolidated financial statements included herein have been
    prepared by the Company, without audit, pursuant to the rules and
    regulations of the Securities and Exchange Commission.  Certain
    information and footnote disclosures normally included in financial
    statements prepared in accordance with generally accepted accounting
    principals have been condensed or omitted pursuant to such rules and
    regulations, although the Company believes that the disclosures are
    adequate to make the information presented not to be misleading.  In
    the opinion of management, the amounts shown reflect all adjustments
    necessary to present fairly the financial position and results of
    operations for the periods presented.  All such adjustments are of a
    normal recurring nature.

    Basic and diluted loss per share of common stock has been determined
    by dividing net earnings by the weighted average number of shares of
    common stock outstanding.

    It is suggested that the financial statements be read in conjunction
    with the financial statements and notes thereto included in the
    Company's Form 10-K for the year ended December 31, 1998.

2.  Business Segments:

    The Company had four active business segments in 1999, and 1998:
(1)wholesale and retail sale of surgical, diabetic, medical equipment and
supplies, (2) nutritional supplies (3) wholesale and retail distribution of
equipment, supplies, and novelty items to emergency medical service, fire
departments, and police departments, and (4) retail pharmacy drug store chain.
Business segments are determined based on products or services offered for sale.

    Summary data for the quarter ended September 30, 1999 is as follows:

            Diabetic,
         Medical, and    Nutritional    EMT, Fire, Police  Pharmacy
        Surgical Supplies  Supplies    Equip and Supplies  Chain     Corporate
Net Sales    $5,485,852                   $4,989,128     $18,381,516
Operating
(loss)income     (5,530)   $(437,913)       (196,990)       (222,178)$ (265,629)
Total assets  2,804,048      599,243       1,940,191       4,714,213  3,197,282
Capital
Expenditures     91,003        2,275          35,349         208,863
Depreciation
and
amortization     81,552       42,045          60,975         186,433      3,803
Interest income  (9,342)                                     (17,009)  (135,038)
Interest
expense          26,707                          554          38,211








FORM 10-Q           NYER MEDICAL GROUP, INC.  000-20175      September 30, 1999
                 NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)


2.  Business Segments, continued

    Summary data for the quarter ended September 30, 1999 is as follows:
continued

              Consolidated
Net Sales     $28,856,497
Operating
(loss)income   (1,128,240)
Total assets   13,254,979
Capital
Expenditures      337,490
Depreciation
and
amortization      374,808
Interest income  (161,389)
Interest
expense            65,472



































FORM 10-Q           NYER MEDICAL GROUP, INC.  000-20175      September 30, 1999

                 NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF THE THIRD QUARTER RESULTS


  Results of Operations

Quarter Ended September 30, 1999 as compared to Quarter Ended September 30,
1998.

NET SALES. Total sales for the first nine months of 1999 increased 7.1% over the
same period of 1998 to $28,856,497, representing an increase of $1,920,720.

The following table shows sales by subsidiary for the first nine months of 1999
and 1998:
                             Nine months ended
                     September 30,     September 30,
Subsidiary             1999             1998    % increase (decrease)
Eaton               $18,381,516     $16,603,165       10.7%
Anton                 2,288,575       2,520,657        -
ADCO                  4,530,042       4,026,766       12.5
SCBA                     18,562          34,572      (46.0)
ADCO South              890,239         847,125        5.0
Conway                2,681,991       2,598,520         -
Nyer Nutritional                        302,426     (100.0)
Nyer Diabetic            65,572           2,546         -
                    $28,856,497      $26,935,777

     The major reason for the increase in sales was due to Eaton, ADCO
and Nyer Diabetic.

The following table shows sales by subsidiary for three months ended
September 30, 1999 and 1998:
                        Three months ended
                      September 30,          September 30,
Subsidiary             1999             1998    % increase (decrease)
Eaton                $6,316,948      $5,859,888        7.7%
Anton                   774,804         772,650         -
ADCO                  1,624,022       1,449,897       12.0
SCBA                      2,147          10,067      (79.0)
ADCO South              330,069         288,495       14.4
Conway                  832,390         761,631        9.2
Nyer Nutritional              -         200,135     (100.0)
Nyer Diabetic            17,545           2,545
                     $9,897,925      $9,345,308



GROSS PROFIT MARGIN.  The Company's overall gross margins were approximately
18.7% for the first nine months of 1999 as compared 21.4% for the same period
in 1998.


FORM 10-Q        NYER MEDICAL GROUP, INC.  000-20175        September 30, 1999

                 NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Results of Operations: continued,


The following is a table of gross margins by subsidiary for the first nine
months 1999 and 1998 and for three months ended September 30, 1999 and 1998:

               For Nine months ended            For three months ended
              September 30,  September 30,  September 30,     September 30,
Subsidiary        1999             1998         1999         1998
Eaton             18.1%            20.4%        18.2%        19.7%
Anton             21.5             18.3         22.4         19.4
ADCO              25.3             25.3         25.4         25.9
SCBA              51.9             69.5         44.2         70.0
ADCO South        25.8             23.3         26.4         23.3
Conway            11.0             23.0         16.4         23.0
Nyer Nutritional     -             22.9            -         22.9
Nyer Diabetic     23.4             27.0         23.9         27.0

     Eaton's gross margin declined due to lower reimbursements from insurance
companies, medicare and medicaid.  They believe they can off set this decline
by increased sales volume.  Anton's increase was the result of higher
supplies sales and lower sales in equipment sales (supplies sales generally
have a higher gross profit margin than equipment sales).  Conway's decrease
in margin was the result of fire truck deliveries. Fire trucks and equipment
sales are sold at lower gross margins.  The average gross profit margin for
fire trucks is between 3-7%.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES.  Consolidated selling, general,
and administrative expenses increased approximately 4.1% in 1999 to
$6,534,137 from $6,336,827 in 1998.  The following table shows the breakdown
by subsidiary (and corporate expenses) as follows:

                    Nine months ended            Three months ended
                 September 30,    September 30,  September 30,     September 30,
Subsidiary            1999             1998             1999            1998
Eaton              $ 3,556,077     $ 3,254,969      $ 1,194,098     $ 1,131,114
Anton                  557,000         600,533          194,562         191,822
ADCO                 1,162,217       1,015,184          417,336         339,256
SCBA                       174          11,717           (2,150)          4,332
ADCO South             196,712         206,067           72,051          65,968
Corporate              265,629         203,370           62,118          91,576
Conway                 443,535         593,190          158,443         193,565
Nyle Home Health           436             100                -              34
Nyer Diabetic           45,841          16,047            1,932          16,047
Nyer Nutritional       306,516         435,650          107,346         144,422
                   $ 6,534,137     $ 6,336,827      $ 2,205,736     $ 2,178,136




FORM 10-Q        NYER MEDICAL GROUP, INC.  000-20175        September 30, 1999

                 NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Results of Operations: continued,

     The main increases came from Eaton due to increased personnel costs.
Anton's and Conway's decrease is due to less personnel costs.  Nyer
Nutritional had decreased marketing expenses in 1999 as compared to 1998.

NET LOSS. In total, the Company experienced a net loss of $861,996 in 1999 as
compared to a net loss of $533,387 in 1998 from continuing operations.

The following table summarizes the loss from continuing operations by
subsidiary:
                            Nine months ended          Three months ended
                 September 30,      September 30,  September 30,  September 30,
Subsidiary             1999             1998        1999             1998
Eaton               $ (180,143)      $  125,118   $ (50,344)     $  17,562
Anton                  (54,904)        (118,883)    (26,806)       (39,182)
ADCO                   (11,821)         (20,534)     23,551         28,198
SCBA                     1,722            7,462       3,425             32
ADCO South              19,617           (9,331)      4,255           (645)
Corporate              (20,408)          37,021       6,652         46,050
Conway                (135,454)           4,187     (54,771)       (67,687)
Nyle Home Health          (436)            (800)          -            (33)
Nyer Diabetic          (30,256)         (15,360)        288        (15,360)
Nyer Nutritional      (449,913)        (366,368)   (213,997)      (104,514)
                    $ (554,248)      $ (357,488)  $(307,747)     $(135,579

     The majority of the loss came from the Company's subsidiary, Nyer
Nutritional, which showed a loss of $449,913 for the first nine months of 1999
as compared to a loss of $366,368 for the same period in 1998.  Nyer Nutritional
generated no revenues for the first nine months of 1999.  The Company has signed
a letter of intent to sell Nyer Nutritional Systems.  See Liquidity and Capital
Resources section.  Eaton incurred additional overhead costs associated with its
sale of a store, the implementation of a new computer system, and have seen a
decline in their margins due to lower than expected reimbursements from the
insurance companies.  ADCO's loss of $11,821 as compared to a loss of $20,534 in
1998, can be attributed to increased sales and margin which was partially off
set by costs associated with the start up of its respiratory division in
February of 1999 (which had minimal sales to offset the additional overhead)
and the development of an interactive web site which added additional overhead
with minimal sales to offset the costs until the third quarter of 1999.
Corporate had a loss due to less interest income which help to reduce corporate
overhead costs and additional overhead for public relations.  ADCO South's net
income was the result of increased gross profit margins and sales.  ADCO South
also had minimal equipment sales for the first nine months of 1999 as compared
to 1998.  Anton and reduction in their losses is due to less personnel costs
due to less sales.  Their overhead cost will be lower in the fourth quarter
due the resignation of their general manager.  Conway had a change over in
their sales force in the fourth quarter of 1998 and is now starting to
generate increased sales due to the hiring of two new salesmen.  Nyer
Nutritional's decrease in overhead was due to less selling and show expenses

FORM 10-Q        NYER MEDICAL GROUP, INC.   000-20175       September 30, 1999
                  NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

       MANAGEMENT'S DISCUSSION AND ANALYSIS OF THE THIRD QUARTER RESULTS

Results of Operations: continued,

for the third quarter of 1999 as compared to 1998's third quarter.

     The Company currently owns 739,216 shares (or 31.5%) of the outstanding
common stock of Vectors.

     In December 1998, the Company wrote down its investment in Vectors to
zero due to significant uncertainties regarding the Company's ability to
recover its investment.

    Net interest expense as a percentage of sales was less than 1% in the
first nine months of 1999 and 1998, respectively.

Liquidity and Capital Resources

     In January 1999, the Company sold certain assets of a pharmacy
for cash.

     During the first quarter of 1999, the Company's pharmacy chain
borrowed on its line of credit in the amount of $200,000.  The interest
rate is prime which was 8.00% as of August 23, 1999.

     The Company anticipates at current cash levels is adequate to fund the
operating needs and potential acquisitions for the foreseeable future.

     The Company has signed a letter of intent to sell its 80% interest
in Nyer Nutritional Systems, Inc., to a national medical distributing
organization.  Since its acquisition in December of 1996, this division has
incurred continuous losses.  The Company feels that this is a positive move to
streamline operations and provide increased shareholder value.

The selling price consists of a cash payment at closing and a percentage
of sales over a period of time.  The acquisition is subject to a definitive
asset purchase agreement. It is anticipated that this will close within the
next 40 days.

Safe Harbor under the Private Securities Litigation Reform Act of 1995

The statements made above relating to the anticipated closing of the
transaction and receipt of future revenues are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Some or all of the results we anticipate from these forward-looking statements
may not occur.  Important factors that could occur include contractual or due
diligence issues may arise which could cause the buyer not to close the
proposed transaction.  Additionally, even if closing occurs, the Company may
not receive the full amount of the purchase price due to competitive concerns,
internal matters relating to the business of the buyer and the failure of the
marketplace to accept the products of Nyer Nutritional.


FORM 10-Q         NYER MEDICAL GROUP, INC.   000-20175       September 30, 1999

                  NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

       MANAGEMENT'S DISCUSSION AND ANALYSIS OF THE THIRD QUARTER RESULTS


Liquidity and Capital Resources, continued

Year 2000

    IMPACT OF YEAR 2000 - Computer Systems Compliance

     The "Year 2000 Issue" is the result of the way computer
systems and programs define calendar dates; they could fail or make
miscalculations due to interpreting a date including "00" to mean
the year 1900, not year 2000.  Some computer programs were written
using two digits rather than four to define the appropriate year.
This could result in a system failure or miscalculations causing
disruptions in normal business activities.

     The Company has substantially analyzed its computer systems,
including embedded chip technology, to determine the potential
technical and economic impact of the "Year 2000 Issue" on the
Company's systems and business operations.  In the last two
years, the Company has upgraded its major computer systems and
programs.  To date, the Company has identified only one of its
subsidiaries which will have to replace its computer system in
order to be Year 2000 compliant.  The Company estimates this cost
will be no greater than $15,000.

     The Company is requesting assurances from its outside
suppliers which it relies on for inventory and services and its
customers (which includes 3rd party insurance companies), that
they are Year 2000 Compliant.

     The Company does not expect that the costs of addressing the
Year 2000 issues (which are in the Company's control) will have a
material effect on their future operating results or financial
position.  The Company's management believes its in-house risks, as
associated with the Y2K problems, are minimal.  The Company has
limited or no control over their outside suppliers and its
customers Y2K problems.  Any failure of these parties could have
a material adverse effect on continued uninterrupted business
operations of the Company.

     At this time, the Company is in the process of developing a
contingency plan for its systems that are not Year 2000 compliant
and intends to have it in place by the fourth quarter of 1999.





FORM 10-Q        NYER MEDICAL GROUP, INC.   000-20175       September 30, 1999
                  NYER MEDICAL GROUP, INC. AND SUBSIDIARIES
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

       MANAGEMENT'S DISCUSSION AND ANALYSIS OF THE THIRD QUARTER RESULTS

Liquidity and Capital Resources, continued

FORWARD-LOOKING STATEMENTS

The statements made above relating to: (1) the anticipated costs to
the Company of complying with the Year 2000 conversion, (2) the
anticipated future impact as a result of outside suppliers not
being Year 2000 compliant on a timely basis are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
The results anticipated by any or all of the forward-looking
statements may not occur.





                                    PART II




  Item 3:  Other information

    The Company is still actively seeking to acquire medical related
companies.

    The Company renewed its Chief Executive Officer's employment contract
in October, 1999.  The contract is guaranteed for two years with an
annual base salary of $140,000, a vehicle allowance of $4,200, and a grant
of 500,000 shares of stock options.

    The Company also entered into a two year agreement with a public
relations firm for two years beginning October 1, 1999.  This firm
was granted 150,000 warrants.














FORM 10-Q         NYER MEDICAL GROUP, INC.   000-20175       September 30, 1999

                  NYER MEDICAL GROUP, INC. AND SUBSIDIARIES






                                  SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
     Registrant has duly caused this report to be signed on its behalf by the
     undersigned thereunto duly authorized.



                                                  NYER MEDICAL GROUP, INC.


     Date:  November 22, 1999                     /s/ Samuel Nyer
                                                  Samuel Nyer,
                                                  President







     Date:  November 22, 1999                     /s/ Karen L. Wright
                                                  Karen L. Wright,
                                                  Treasurer
                                                  (Chief Financial Officer)





















[TYPE]   EX-27
[DESCRIPTION] Article 5 Fin Data Schedule for the 1st, 2nd & 3rd quarter

[ARTICLE] 5
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   9-MOS
[FISCAL-YEAR-END]                          DEC-31-1998
[PERIOD-END]                               SEP-30-1999
[CASH]                                       2,532,756
[SECURITIES]                                         0
[RECEIVABLES]                                3,496,835
[ALLOWANCES]                                 (165,998)
[INVENTORY]                                  4,545,702
[CURRENT-ASSETS]                            10,663,857
[PP&E]                                       2,823,312
[DEPRECIATION]                              (1,079,235)
[TOTAL-ASSETS]                              13,254,979
[CURRENT-LIABILITIES]                        3,509,625
[BONDS]                                        922,321
[PREFERRED-MANDATORY]                                0
[PREFERRED]                                          1
[COMMON]                                           341
[OTHER-SE]                                   8,170,870
[TOTAL-LIABILITY-AND-EQUITY]                13,254,979
[SALES]                                     28,856,497
[TOTAL-REVENUES]                            28,856,497
[CGS]                                       23,450,600
[TOTAL-COSTS]                                6,534,137
[OTHER-EXPENSES]                                     0
[LOSS-PROVISION]                                     0
[INTEREST-EXPENSE]                              65,473
[INCOME-PRETAX]                              (861,996)
[INCOME-TAX]                                         0
[INCOME-CONTINUING]                          (861,996)
[DISCONTINUED]                                       0
[EXTRAORDINARY]                                      0
[CHANGES]                                            0
[NET-INCOME]                                 (861,996)
[EPS-BASIC]                                    (.25)
[EPS-DILUTED]                                        0
</TABLE>