EXHIBIT 99.1

FOR IMMEDIATE RELEASE
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CONTACT: Michael T. Pieniazek, Executive VP   Jeffery Lamberson or
         Equidyne Corporation                 Richard Carpenter
         (603) 880-6300                       American Financial Communications
                                              (415) 380-3880

                  AMERICAN ELECTROMEDICS CORP. CHANGES NAME TO
                             "EQUIDYNE CORPORATION"

AMHERST, NEW HAMPSHIRE, January 6, 2000...AMERICAN ELECTROMEDICS CORP.
(OTCBB:AMER) announced today that it has changed the Company's name to "EQUIDYNE
CORPORATION". The name change was approved at the Annual Meeting of Stockholders
held on December 29, 1999. American Electromedics Corp.'s common stock has
previously been traded on the OTC Bulletin Board under the ticker symbol "AMER".
Effective immediately, Equidyne Corporation ("Equidyne") will be traded on the
OTC Bulletin Board using its new ticker symbol, "INJX".

J. Randall Nelson, Equidyne's newly appointed President and CEO, commenting on
the change, stated, "This new corporate name, which more closely reflects the
Company's business as it exists today, has been part of the strategy of focusing
the Company's resources on Equidyne Systems, Inc. and its INJEX(TM) needle-free
drug delivery systems. This change clearly reflects the Company's strategic
focus. I recently joined Equidyne because the INJEX(TM) System is the most
exciting and advanced technology for pharmaceutical injections I have
experienced in My twenty plus years in the medical industry. I am convinced that
2000 will be the year that Equidyne makes the INJEX(TM) System the delivery
method of choice for pharmaceutical injections worldwide. I look forward to
keeping you informed about our successes in the coming months."

Equidyne Corporation, through Equidyne Systems, Inc., a wholly-owned subsidiary
based in San Diego, California, and Rosch AG Medizintechnik, i.G. ("Rosch AG"),
a partially-owned subsidiary based in Berlin, Germany (Additional information
at: www.roeschnet.com), is focused on becoming the worldwide leader in
needle-free drug delivery systems for subcutaneous and intramuscular injections.
Rosch AG is responsible for the European market, while Equidyne is responsible
for the U.S., Canada, South America and the Asian markets. The INJEX(TM)
needle-free injector is a compact, uncomplicated device that delivers a
virtually painless injection through the skin in a fraction of a second, and
eliminates needle stick and disposal problems. For medications requiring
injection, we believe the INJEX(TM) System is by far the most comfortable and
economical product on the market.

THE STATEMENTS CONTAINED IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE
FORWARD-LOOKING STATEMENTS THAT MAY INVOLVE RISKS AND UNCERTAINTIES. THE
COMPANY'S ACTUAL RESULTS MAY DIFFER SIGNIFICANTLY FROM THE RESULTS CONTAINED IN
THE FORWARD-LOOKING STATEMENTS. FACTORS THAT MIGHT CAUSE SUCH DIFFERENCES
INCLUDE, BUT ARE NOT LIMITED TO, THE EFFECT OF LOSSES AND OTHER FACTORS ON THE
COMPANY'S CREDIT FACILITIES, BUSINESS AND RESULTS OF OPERATIONS; THE COMPANY'S
LIMITED CAPITAL RESOURCES AND ITS ABILITY TO FULFILL ITS EXISTING OBLIGATIONS
AND ONGOING CAPITAL NEEDS; RISKS ASSOCIATED WITH EXCESS OR OBSOLETE INVENTORY;
THE POTENTIAL IMPAIRMENT OF ASSETS; THE COMPANY'S DEPENDENCE ON KEY CUSTOMERS
AND THEIR FINANCIAL VIABILITY; THE IMPACT OF COMPETITION; AND THE COMPANY'S
ABILITIES TO EFFECTIVELY MANAGE GROWTH. THESE AND OTHER RISK FACTORS ARE
DISCUSSED IN THE COMPANY'S FILINGS ON FORMS 8-K, 10-QSB AND 10-KSB.

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