E.N. Phillips Co. Raises $640,000 for Expansion

E.N. Phillips Co., which operates health-screening centers in shopping malls, said it raised $640,000 after investors exercised warrants that entitled them to buy shares of Phillips stock at a previously set price.

The money will be used to open more centers, which are operated by Phillips’ Testing 1-2-3 subsidiary. The company now runs seven centers in California but expects to have a total of 15 either open or in development by 1991.

Phillips operates the centers with a local hospital or medical group. The medical sponsor provides the professional assistance, while Phillips manages the centers’ marketing and administrative needs.