Advent Technologies Inc. agrees to acquire Fidelity Medical Inc.CORAL GABLES Coral Gables, city (1990 pop. 40,091), Miami-Dade co., SE Fla., SW of Miami; inc. 1925. Founded at the height of the Florida land boom, Coral Gables is a noted planned city, with tree-lined boulevards and Mediterranean-style buildings. , Fla.--(BUSINESS WIRE)--July 27, 1995--Advent Technologies 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 :AVTI) Thursday Thursday: see week. announced that it had reached an agreement in principal to acquire Fidelity Medical Inc. of Wayne Wayne, city (1990 pop. 19,899), Wayne co., SE Mich., a suburb of Detroit, on the Lower Rouge River; inc. as a village 1869, and with surrounding areas as a city 1960. It has automobile and aircraft industries and other varied manufactures. , N.J. Founded in 1978, Fidelity Medical develops and markets systems for electronic processing, storage and review of images generated during certain medical procedures. The company recently received F.D.A. approval for both its InstaSpot and InstaCine Systems. Martin Swarzman, president of Advent said: "The acquisition of Fidelity Medical is the culmination of a year long search for a partner in the diagnostic imaging market. Fidelity's products will provide a firm basis for expanding our Delta Med subsidiary's presence in both the domestic and international markets. Fidelity's InstaSpot system is ideally suited for use with Delta Med's line of refurbished imaging equipment. Together we will be able to offer turnkey See turnkey system. state of the art imaging systems at a fraction of the cost of new equipment. It also opens major new markets for both Advent and Fidelity." CONTACT: Advent Technologies Inc., Coral Gables Martin Swarzman, 305/448-0404 |
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