Advanced NMR, GE may extend deadline
Advanced NMR and GE MedicalSystems are discussing an extension of their agreement to marketfast MRI systems. The two companies may push back the deadlinefor GE to sell 100 of Advanced NMR's InstaScan echo-planar imagingsystems to Dec. 31, 1995. Under
Advanced NMR and GE MedicalSystems are discussing an extension of their agreement to marketfast MRI systems. The two companies may push back the deadlinefor GE to sell 100 of Advanced NMR's InstaScan echo-planar imagingsystems to Dec. 31, 1995.
Under the terms of an agreement reached between the companieslast year, GE gained exclusive rights to InstaScan for two yearsin return for a guarantee to buy 100 InstaScan systems or otherAdvanced NMR products by December of this year (SCAN 3/10/93).
The agreement also included an option for GE to extend thecontract, while Advanced NMR retained the right to begin adaptingits technology to non-GE systems after June of this year.
Last month, Advanced NMR announced that it has extended theexercise date from June 15 to July 31 for GE to maintain exclusiverights to InstaScan. The move gives the companies more time tonegotiate an extension of their alliance, according to AdvancedNMR. A key issue in those discussions would be an extension ofGE's deadline for sales of InstaScan to December of 1995, accordingto the company.-
