Diagnostic Health buys Cardiac Concepts

July 17, 1996

Imaging services firm Diagnostic Health Services of Dallas hascompleted its acquisition of Cardiac Concepts, another Texas companythat provides echocardiography services. Cardiac Concepts operatesin the north and central Texas region and will add $1

Imaging services firm Diagnostic Health Services of Dallas hascompleted its acquisition of Cardiac Concepts, another Texas companythat provides echocardiography services. Cardiac Concepts operatesin the north and central Texas region and will add $1 millionin annual revenues to DHS, according to the companies.

In other news, Diagnostic Health said it had completed a publicoffering that netted the firm a total of $18.3 million. DHS lastmonth issued three million shares of common stock at a price of$6.75 a share. The company's underwriters this month exercisedan over-allotment option, selling an additional 400,000 shares.DHS said that it plans to use the money to fund acquisitions andto fuel internal growth.