Medical Imaging Centers of America has signed...
Medical Imaging Centers of America has signed an agreement in principle to acquire Lombard, Ill.-based Basic America Imaging, a wholly owned subsidiary of Basic American Medical Inc., for $5.5 million in cash and notes.
MICA Chairman Antone J. Lazos described BAI as a profitable company with $11 million in annual revenue. BAI provides Magnetic Resonance Imaging, Cat Scanning, and ultrasound services to hospitals and clinics.
The companies expect to complete a definitive agreement before Dec. 15.
The acquisition “permits us to accelerate our drive in becoming a major provider of diagnostic imaging services to hospitals,” Lazos said.
