Jack Nelson, Chairman and CEO of ANMR
stated: "This settlement represents yet another significant item that we have unburdened ourselves of without expense.
We are also pleased with the opportunity to build upon our strategic relationship by becoming an ANMR
will retain its rehabilitation business and interest in the Faulkner Hospital Sagoff Women's Center (scheduled to open in spring).
For additional information regarding exercise of the Warrants, contact Marion Waddington at ANMR
Following the transaction, however, ANMR
will continue to own and to operate MDI's rehabilitation business and to own its interest in the Faulkner Hospital Sagoff Women's Center (under development), both of which will be transferred to ANMR
concurrent with the transaction.
is increasing its personnel in order to manufacture InstaScan in response to the growing demand for high-speed MRI technology, and to fulfill its contractual obligations to GEMS.
Under the agreement, GEMS has guaranteed the purchase of 100 ANMR
InstaScan systems by Dec.
As part of the company's new mission, ANMR
will eliminate research, development and production of its Instascan and headcoil technologies, resulting in lower operating expenses.
Jack Nelson, Chairman and Chief Executive Officer of Advanced NMR Systems noted: "The financing announced today will allow ANMR
to adequately fund development and marketing programs that we have identified as critical to the successful implementation of our strategic objectives, the first of which must be the creation of shareholder value.
Jack Nelson, Chairman and Chief Executive Officer of ANMR
said: "The financing secured for Advanced Mammography Systems and the termination of the AMS merger will enable ANMR
to focus on its growing diagnostic imaging and rehabilitation business and the optimizing of technology developed by ANMR
is developing new systems for functional neuro-imaging and orthopedic applications.
is proposing to acquire all of the outstanding stock of Advanced Mammography Systems, Inc.