LONDON (Alliance News) - Amphion Innovations PLC on Thursday said it has signed a memorandum of understanding to merge its m2m Imaging Corp portfolio company with an unnamed pulmonary imaging technology company.
Amphion said it expects to own around 40% of the combined company. The m2m business focuses on clinical imaging system accessories for MRI systems.
No financial details on the proposed merger were disclosed.
"The private company which we plan to merge with m2m has advanced pulmonary imaging technology which is sold as an add-on component to an existing, already installed base of MRI machines. The combined company will have an array of products serving the multi-billion dollar MRI marketplace in both the US and Europe," said Richard Morgan, Amphion's chief executive.
Shares in Amphion were up 0.5% to 5.4 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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