Beleaguered imaging center chain U.S. Diagnostic announced that president and CEO Joseph Paul has submitted his resignation, effective January 5, 2001. At that time, Paul will perform consulting services related primarily to the firm’s divestiture of its imaging centers, according to the West Palm Beach, FL-based firm. Executive vice president and COO Leon Maraist will assume the office of president upon Paul’s resignation.
In other USDL news, an entity controlled by Paul has closed on the acquisition of three of the firm’s imaging centers. The transaction was subject to the receipt of a fairness opinion and a business valuation, according to USDL.
Approval of the transaction was recommended by a special committee of outside directors working with the assistance of outside counsel, and it was approved by USDL’s board of directors, according to the firm. USDL has completed the sale of approximately 25 centers since May 31.
October 27, 2000
Related Reading
U.S. Diagnostic reports transitional Q2, August 21, 2000
CMI to buy 14 USDL imaging centers, August 7, 2000
USDL announces approval of restructuring plan, July 24, 2000
USDL puts itself up for sale, May 10, 2000
USDL results sag in 1999, March 27, 2000
Copyright © 2000 AuntMinnie.com
