Medical Resources sees Q2 numbers boom

August 20, 1997

The acquisition drive under way at imaging services provider Medical Resources is paying off with sharply higher financial numbers for the Hackensack, NJ, company. Medical Resources last week reported second-quarter (end-June) revenues of $51.8 million,

The acquisition drive under way at imaging services provider Medical Resources is paying off with sharply higher financial numbers for the Hackensack, NJ, company. Medical Resources last week reported second-quarter (end-June) revenues of $51.8 million, up 177% compared with $18.7 million in the same period last year. The company's net income grew as well, climbing to $4.2 million compared with $1.6 million in the second quarter of 1996. In addition to the positive impact of recent acquisitions, Medical Resources saw a 10% increase in same-center revenues, while revenues in its temporary staffing business doubled.

In other news, Medical Resources has made two more acquisitions in recent weeks that boost its position in Florida. The company bought an imaging center in Miami for $1.7 million in stock, and acquired an imaging facility in Jupiter for $2.1 million in cash and stock. The Miami center has annual revenues of $1.1 million, while the Jupiter center's annual revenues are $1.3 million. Medical Resources now owns 85 imaging centers.