IM Medical (ASX:IMI) announces that it has entered into an ‘in principle’ agreement’ to acquire, a Melbourne Radiology and Imaging business, as a complement to its Intelliheart testing product and as a part of increasing the suite of diagnostic products that the company is able to offer. The in principle agreement is to acquire the business of Melbourne Specialist Imaging (MSI) which is owned by Melbourne radiologist, Mark Scott and associates.
MSI currently has 6 locations providing a range of diagnostic imaging services. It is recognised as the leading Head and Neck imaging practice in Victoria. Based on information provided to date and subject to the Independent Expert’s Report, the directors anticipate that the acquisition will provide close to $7 million in revenue over the next 12 months and will be earnings accretive in 2008/09.
Tags: IM Medical, IMI, Takeover
