Raytel to buy cardiovascular center firm

July 9, 1997

Raytel Medical has signed a letter of intent to acquire Cardiovascular Ventures of New Orleans, an operator of cardiovascular diagnostic facilities in Texas, Louisiana, and Maryland. The proposed agreement fits Raytel's new business strategy of expanding

Raytel Medical has signed a letter of intent to acquire Cardiovascular Ventures of New Orleans, an operator of cardiovascular diagnostic facilities in Texas, Louisiana, and Maryland. The proposed agreement fits Raytel's new business strategy of expanding in the cardiovascular center market by building a network of integrated heart centers. Cardiovascular Ventures had revenues of about $17.3 million and was profitable for the first nine months of the fiscal year (end-June). Raytel in May said it was evaluating its options in its other business, the operation of medical imaging centers, which it may divest to concentrate on its heart center network (SCAN 5/14/97).