Medical Resources raises $52 million

March 5, 1997

Imaging services provider Medical Resources last month raised$52 million through a private debt placement of 7.77% senior notesdue in 2005. The Hackensack, NJ, company said it would use proceedsof the placement to retire $14 million in existing equipment

Imaging services provider Medical Resources last month raised$52 million through a private debt placement of 7.77% senior notesdue in 2005. The Hackensack, NJ, company said it would use proceedsof the placement to retire $14 million in existing equipment debt,to fund acquisitions, and for general corporate purposes. MedicalResources sold the notes to a group of insurance companies ledby John Hancock Mutual Life Insurance Company.