Advanced NMR Systems opens new clinic; Plans to grow its rehabilitation chain.WILMINGTON, Mass.--(BUSINESS WIRE)--April 16, 1996--Advanced NMR NMR: see magnetic resonance. Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ANMR) announced today its rehabilitation unit, Medical Diagnostics & Rehabilitation (MD&R) has opened a new clinic in Malden, MA. MD&R provides comprehensive physician care, physical therapy and case management for motor vehicle accident motor vehicle accident Public health A morbid condition that kills 45,000/yr–US; 60% are < age 35; MVAs account for 500,000 hospitalizations and most 20,000 spinal cord injuries, at a cost of $75 billion/yr patients. It was formed in February 1995 as a joint venture partnership between ANMR's wholly-owned subsidiary, Medical Diagnostics, Inc. (MDI (1) (Multiple Document Interface) A Windows function that allows an application to display and lets the user work with more than one document at the same time. ), which owns 75% of the venture, and Eric T. Shebar, M.D., the founder of the business, who has a 25% equity interest. In addition to the new Malden clinic, MD&R has operated a rehabilitation clinic in Springfield MA since 1990 and plans to open its third clinic in Holyoke, MA this summer. During its most recent twelve months of operation, the Springfield clinic generated about $3.5 million in revenues. Jack Nelson, Chairman and Chief Executive Officer of Advanced NMR Systems, Inc. noted: "Our rehabilitation business continues to experience the strong operating margins that made MD&R an attractive joint venture opportunity for our services business. Over the next several years, we expect to develop a chain of rehab clinics modeled on the three units currently in operation or planned." Medical Diagnostics and Rehabilitation is a joint venture partnership between Medical Diagnostics, Inc. (MDI) and Eric T. Shebar, M.D., the founder of MD&R. MDI is a wholly-owned subsidiary of Advanced NMR Systems, Inc., a developer of ultrafast and special purpose magnetic resonance imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. (MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. ) systems and components. Through MDI, ANMR is a provider of diagnostic imaging and rehabilitation services. CONTACT: Eileen Kirrane (508) 657-8876 or (800) 229-7226 |
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