IPS Health Care Accepts $12-Million Takeover Offer : Merger: Irvine company will be acquired by Diagnostic Imaging Services. No layoffs expected.

IPS Health Care Inc. said Wednesday that it has agreed to be acquired by Diagnostic Imaging Services Inc., a privately held company that provides medical imaging services throughout Southern California.

The all-stock deal would be worth about $12 million at Wednesday’s closing price of $3.375 a share for IPS common shares.

The new company will be called Diagnostic Imaging Services Inc., and its headquarters will be in Culver City, where Diagnostic Imaging is located.

The IPS administrative office in Irvine will remain in operation, and no layoffs are anticipated, said Norman Hames, owner of Diagnostic Imaging. The combined companies will have about 160 employees.

The merged company will operate six outpatient imaging centers, 15 ultrasound laboratories in hospitals and two mobile magnetic resonance imaging units and 13 mobile ultrasound units that provide service to more than 100 hospitals and medical office buildings in Southern California.

Hames will be chairman, president and chief executive officer of the merged companies. He declined to discuss the roles, if any, that IPS management will play in the combined company and IPS officials could not be reached for comment.

The agreement calls for IPS to issue approximately 3.5 million shares of its common stock to Hames, making him half-owner of the new company, which would continue to be publicly traded on the Nasdaq market under the Diagnostic Imaging name. Hames also would receive options and warrants covering about 380,000 shares.