PACS and radiology information systems provider Inphact of Brentwood, TN, and digital cardiac imaging systems developer Electromed of Laval, Quebec, plan to merge. The combined company will be named Evolved Digital Systems and will have more than 120 installed facilities in the U.S., Canada, and Europe, with another 50 sites in backlog for installation, Electromed said.
Under the terms of the merger, Inphact will own 70% of Electromed. In return, Electromed will obtain financing of approximately $20 million (U.S.) for working capital, acquisitions, and general corporate purposes. Evolved will continue to trade under the Electromed symbol "MED" on the Toronto Stock Exchange. The proposed transaction is expected to close this quarter.
By AuntMinnie.com staff writersJuly 11, 2003
Related Reading
RealTimeImage, Inphact team up, June 6, 2003
Inphact adds New York client, April 8, 2003
Inphact adds Indiana customer, March 26, 2003
Inphact signs Utah client, January 10, 2003
Electromed to buy ComView, June 18, 2001
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