Raytel retains imaging center business

August 20, 1997

Raytel Medical has decided to hold onto its medical imaging business following an internal review of its activities in the industry. Raytel will continue developing its imaging business through additional investment, and will expand the offerings of

Raytel Medical has decided to hold onto its medical imaging business following an internal review of its activities in the industry. Raytel will continue developing its imaging business through additional investment, and will expand the offerings of cardiology-oriented modalities in certain centers, according to Richard Bader, chairman and CEO.

The San Mateo, CA-based company announced on May 5 that it was exploring options for the future of its medical imaging business, and retained financial services advisor Dillon Read & Co. to help it evaluate new possibilities (SCAN 5/14/97). At the time, Raytel said its options included pouring new capital into the business or selling it off.