Positron adds to coffers

AuntMinnie.com staff writers
Jul 15, 2004

PET vendor Positron has received $500,000 (U.S.) from privately held Canadian PET center developer IMAGIN Diagnostic Centres of Toronto.

The current funding completes a $700,000 purchase of 10% convertible secured notes and the first phase of a $1.3 million loan agreement between the firms. IMAGIN has a further commitment to fund Positron an additional $1.1 million, according to the Houston-based firm.

When the financing is completed and if all conversion rights are exercised, IMAGIN will control approximately half of Positron's common stock, according to the company.

By AuntMinnie.com staff writers
July 16, 2004

Related Reading

Positron taps Yeh as sales VP, July 14, 2004

Positron agrees to buyout, books 10-scanner order, May 28, 2004

Positron, GE in cardiac PET swap, July 9, 2003

Positron turns in record revenues, May 19, 2003

Positron adds University of Texas to client list, February 18, 2003

Copyright © 2004 AuntMinnie.com

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