NASI Acquires Theseus in Stock, Options Deal

North American Scientific Inc., Chatsworth, has acquired Theseus Imaging Corp. Under the closing terms, Theseus shareholders will receive 346,000 shares of NASI common stock and options in exchange for 100% of Theseus common stock. In addition NASI will assume all of Theseus obligations including approximately $8 million advanced to Theseus by NASI and $2.5 million in other debt. Theseus will operate as a wholly owned subsidiary of NASI.

Theseus develops proprietary biomedical technologies.

North American Scientific manufactures products for medical therauputic and diagnostic use and environmental and scientific applications.