ANMR and MDI proceed with merger plans

Advanced NMR of Wilmington, MA, and Medical Diagnostics of Burlington,MA, are ready to send their merger proposal to a shareholder voteafter the Securities and Exchange Commission declared effectivea registration statement containing the proposal. The companiesannounced the merger in May after a protracted battle betweenMDI and erstwhile suitor Raytel (SCAN 5/10/95). The shareholdervotes are scheduled for Aug. 31.

Advanced NMR also reported financial results last week thatshow revenues of $4.3 million for the second quarter (end-June),up 195% compared to $1.5 million in sales in the same period lastyear. Net income for the quarter was $393,000 compared to a netloss of $593,000 in the second quarter of 1995.

The company said the improving results were due to growingsales of its InstaScan echo-planar imaging package, as well asthe shipment of two 3-tesla MRI scanners.