DVI Completes Assignment of Purchase Rights to PresGar Diagnostic Imaging, LLC.Business Editors/Health & Medical Writers JAMISON, Pa.--(BUSINESS WIRE)--Oct. 30, 2002 DVI (1) (Digital Video Interactive) An earlier compression technique that provided up to 72 minutes of full-screen video on a CD-ROM. Acquired by Intel in 1988 from RCA's Sarnoff Research labs, Princeton, NJ, DVI never caught on. , Inc. (NYSE NYSE See: New York Stock Exchange :DVI), an independent specialty finance company for healthcare providers worldwide, announced today that its subsidiary, DVI Financial Services Inc. has assigned its purchase rights, under a definitive agreement to purchase substantially all of US Diagnostic Inc.'s ("USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ") diagnostic imaging business, to PresGar Diagnostic Imaging, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("PresGar Diagnostic"), an affiliate of PresGar Medical Imaging, Inc., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. that owns and operates a number of diagnostic imaging centers in various locations around the country. As part of the sale, PresGar Diagnostic will assume all the indebtedness owed by USD to DVI's affiliates. DVI views the assignment of the purchase rights to PresGar Diagnostic as the successful conclusion to the process of the sale by USD of its centers and anticipates that PresGar's expertise in the diagnostic imaging industry will positively impact the performance and value of the centers. DVI is an independent specialty finance company for healthcare providers worldwide. The Company extends loans and leases to finance the purchase of diagnostic imaging and other therapeutic medical equipment directly and through vendor programs throughout the world. DVI also offers lines of credit for working capital backed by healthcare receivables in the United States. Additional information is available at www.dvi-inc.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Statements contained in this press release which are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties, including but not limited to, the successful completion of the transactions contemplated by the definitive agreement with respect to the sale of USD's operating assets to the Company's assignee, the ability of the Company's assignee to make payments on the DVI Indebtedness, legislative and regulatory changes in general, including such changes affecting the healthcare industry, demand for DVI's services, pricing, market acceptance, the effect of economic conditions, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , competitive products and services, corporate financing arrangements, the ability to complete transactions, and other risks identified in the Company's filings with the Securities and Exchange Commission. Many of these factors are beyond the Company's control. Actual results could differ materially from the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results anticipated in the forward-looking information in this press release will, in fact, occur. |
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