• AI
  • Molecular Imaging
  • CT
  • X-Ray
  • Ultrasound
  • MRI
  • Facility Management
  • Mammography

COHR may pursue sale of company

Article

Independent service organization COHR of Chatsworth, CA, announced last month that it has engaged a financial advisor to pursue various strategic alternatives, which may include the sale of the company. Such a move would be a dramatic turnabout for the

Independent service organization COHR of Chatsworth, CA, announced last month that it has engaged a financial advisor to pursue various strategic alternatives, which may include the sale of the company. Such a move would be a dramatic turnabout for the ISO, which until several months ago was rapidly acquiring service-related businesses.

COHR made the announcement on Dec. 30, saying the company had engaged Lehman Brothers as part of an effort toward "enhancing shareholder value." The announcement stated that while a sale was one of the alternatives being explored, the firm's board had not yet determined a course of action.

COHR did not elaborate on why it engaged Lehman Brothers, and executives with the company were not available for comment as of press time. The company did announce that it expects financial results for its third quarter (end-December) to include special charges of up to $8 million. The charges are for severance expenses, legal and accounting costs, and a $2.2 million charge for an increase in doubtful accounts receivable related to Maintenance MasterPlan contracts.

Late last year, COHR announced that chairman and CEO Paul Chopra was leaving the company. Former COHR CEO and chairman Stephen Gamble replaced Chopra as CEO, while COHR board member Lynn Reitnouer was named chairman. The move came shortly after COHR said it would report lower second-quarter earnings.

Related Videos
Does Initial CCTA Provide the Best Assessment of Stable Chest Pain?
Making the Case for Intravascular Ultrasound Use in Peripheral Vascular Interventions
Can Diffusion Microstructural Imaging Provide Insights into Long Covid Beyond Conventional MRI?
Assessing the Impact of Radiology Workforce Shortages in Rural Communities
Emerging MRI and PET Research Reveals Link Between Visceral Abdominal Fat and Early Signs of Alzheimer’s Disease
Reimbursement Challenges in Radiology: An Interview with Richard Heller, MD
Nina Kottler, MD, MS
The Executive Order on AI: Promising Development for Radiology or ‘HIPAA for AI’?
Related Content
© 2024 MJH Life Sciences

All rights reserved.