Maxum posts higher 1994 results

The restructuring of mobile imaging firm Maxum Health resulted in the Dallas-based company postinga net profit of $4.2 million for fiscal 1994 (end-December). Maxumsaid it restructured most of its debt and leasing arrangementsin 1994 and entered into a long-term contract with hospital giantColumbia/HCA to run an outpatient imaging center. Maxum beganthe restructuring effort in 1993 (SCAN 3/24/93).

Maxum posted year-end revenues of $45.9 million, up slightlyfrom $45.1 million the year before. The company's net income of$4.2 million represented a major turnaround from the $6.8 millionnet loss recorded in 1993. Much of Maxum's improvement in profitabilitywas attributable to several extraordinary gains, including $3.3million related to extinguishment of debt and $5 million for thesale of its lithotripsy partnership interests. The firm's operatingloss for 1994 stood at $2.8 million, compared to a $6 millionoperating loss in 1993.

Maxum earlier this year partnered with Columbia/HCA to purchaseArlington Diagnostic and Imaging Center in Arlington, VA. Thecenter is jointly owned by the two companies, with Maxum responsiblefor staffing and management.