IM Medical Limited (IMI) is pleased to announce that it has signed a Heads of Agreement with Capitol Health Limited in relation to the acquisition by Capitol Health Limited (CAJ) of the Radiology operations of IMI in exchange for the issue of 45.56 million CAJ ordinary shares to IMI and up to $600,000 in cash payable in 3 tranches within 2 years based on the performance of the IMI Radiology operations.
IMI Chairman, Mr Nigel Blaze said “this transaction gives IMI shareholders the opportunity to get an increased share of the growing health market, whilst allowing the IMI Board to consider new opportunities for the Company.”
IMI incorporates the specialist radiologist practice, Melbourne Specialist Imaging (MSI), which provides a comprehensive range of imaging services, including full dental, ultrasound and general radiologist. MSI has been in operation for over 25 years providing a high quality and efficient service to referring specialists, general practitioners, dentists and allied health professionals. Capitol has a strong clinical group that contributes to the identification, acquisition, integration and smooth operation of its facilities.
http://www.traderdealer.com.au/Fundamentals/imi
