InSight Health seeks to reduce debt

Imaging services provider InSight Health Services reported that it will offer to swap stock for subordinated notes in an effort to eliminate nearly $195 million of debt.

The Lake Forest, CA-based firm said that it has proposed 87% of its common stock in exchange for the subordinated notes. If the deal is accepted by the note holders, the firm said it will result in the elimination of approximately $194.5 million in note principal, as well as reduce its annual interest expense by more $19 million.

By staff writers
February 15, 2007

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Copyright © 2007

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