Fidelity Medical goes retail

April 12, 1995

X-ray digitization firm Fidelity Medical expanded its horizons last month by purchasing Corniche Distribution,a U.K. wholesale and retail stationery business. Fidelity, ofFlorham Park, NJ, is hoping to improve its access to capital withthe acquisition.

X-ray digitization firm Fidelity Medical expanded its horizons last month by purchasing Corniche Distribution,a U.K. wholesale and retail stationery business. Fidelity, ofFlorham Park, NJ, is hoping to improve its access to capital withthe acquisition. Fidelity has suffered cash-flow problems of lateand was forced to delay the filing of its annual results (SCAN3/15/95). Simultaneously with the Corniche acquisition, Fidelityannounced that it had secured an agreement with NWCM Ltd. to raiseup to $5 million in new equity.