Company to Buy Stake in North American Imaging
DC DiagnostiCare has signed a letter of intent to purchase all the outstanding shares of Camarillo-based North American Imaging, a private, independent supplier of X-ray glassware to diagnostic clinics.
DC DiagnostiCare operates a chain of non-hospital-based diagnostic imaging clinics in Canada.
The Edmonton-based company said North American Imaging expects gross revenues for its fiscal year that ended May 31 to reach $26.5 million in Canadian dollars.
It said the purchase price will be calculated based on 3.86 times North American Imaging’s earnings before interest, taxes, depreciation and amortization for the fiscal year, up to a maximum of $7 million in U.S. dollars. Half of the purchase price will be paid in cash and half in DC DiagnostiCare common shares.
The company said North American Imaging will keep its head office in Camarillo.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
