E.N. Phillips Seeks Funding for Poly-Optical Stock
- Share via
E. N. Phillips Co., a struggling Woodland Hills company that recently got out of the health-screening business, said it retained an investment banking firm to complete the funding it needs to finish its acquisition of 90% of the common stock of Poly-Optical Products Inc., a fiber optics manufacturer.
E. N. Phillips said it has already paid Trimedyne Inc. for 12.5% of Poly-Optical, which had 1991 revenue of $2.3 million.
Mitsubishi Rayon Co. Ltd. will retain a 10% interest in Poly-Optical, E. N. Phillips said.
Last fall, E. N. Phillips closed all but one of its health-screening centers because of cost cutting by the centers’ sponsoring hospitals, and the company now says it has gotten out of the business entirely.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
