Diagnostic Health Services of Dallas has announced a new financial alliance with UniCapital, a Miami-based firm that provides structured financing and leasing services. Under terms of the agreement, UniCapital has become DHS' senior lender, purchasing portions of the company's senior debt and providing short-term financing for the struggling medical services firm.
DHS has also engaged Glass and Associates, a national consulting firm that specializes in corporate turnarounds, to assist DHS in its restructuring efforts and examine "future directions of the company," according to DHS.
DHS provides medical outsourcing services to hospitals and other healthcare facilities, as well as radiology and cardiology diagnostic services and equipment in 20 states in the U.S. Over the past few years the company has been beset with financial difficulties that have resulted in its defaulting on various loan agreements.
DHS has also initiated several restructuring moves in an effort to improve its fortunes. In August 1999, the company announced that a planned merger with Medical Alliance, a medical technology and surgical service provider based in Irving, TX, had been canceled.
By AuntMinnie.com staff writers
January 10, 2000
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