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Center firms sign definitive merger deal
Imaging center companies Medical Resources and NMR of America have signed a definitive agreement covering the merger of their respective firms (SCAN 5/22/96). Medical Resources of Hackensack, NJ, appears to be in the driver's seat of the merger, with
Imaging center companies Medical Resources and NMR of America have signed a definitive agreement covering the merger of their respective firms (SCAN 5/22/96). Medical Resources of Hackensack, NJ, appears to be in the driver's seat of the merger, with each share of Murray Hill,NJ-based NMR of America to be exchanged for 0.6875 shares of MedicalResources stock.
In addition, Medical Resources executives will occupy the executivesuites of the newly merged company, with Robert Adamson servingas co-president and CFO, and William Farrell co-president andCOO. NMR executives Joseph Dasti and John O'Malley will be retainedas consultants to the new company. Finalization of the mergeris subject to certain conditions, including shareholder approval.
In other news, Medical Resources announced that it has completedthe acquisition of an imaging center in Clearwater, FL. MedicalResources paid $1.3 million in cash and $1.7 million in stockfor the acquisition, which brings to 19 the total number of MedicalResources centers.