GE Medical Systems Invests $5.1 Million for Acquisition of Securities of Advanced NMR Systems, Inc. and Advanced NMR Systems, Inc.'s 3T and 4T Whole Body Imaging Business.WILMINGTON, Mass.--(BW HealthWire)--Aug. 19, 1997--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 ANMR Acoustic Nuclear Magnetic Resonance ) and GE Medical Systems jointly announced today that GE has invested $5.1 million of the acquisition of $2.7 million of ANMR preferred stock, convertible at $0.233 per share, and for the acquisition of ANMR's 3-tesla and 4-tesla whole body 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. business. The companies had previously collaborated in the development of these systems. GE Medical Systems will continue to develop, manufacture, sell and service the 3T and 4T whole body imaging systems, and will also acquire ANMR's business of servicing 1.5T systems. In announcing the transaction, Jeffrey R. Immelt Jeffrey Robert Immelt (born February 19 1956, Cincinnati, OH) is the current chairman of the board and chief executive officer of General Electric. He was selected by GE's Board of Directors in 2000 to replace John Francis Welch Jr. (Jack Welch) following his retirement. , president and chief executive officer of GE Medical Systems, said, "GE Medical Systems is excited about assuming sole responsibility for this 3T and 4T whole body imaging business, and we are committed to providing products and service to the developing market in 3T and 4T whole body imaging systems. We are also pleased with the opportunity to build upon our strategic relationship by becoming an ANMR shareholder." Jack Nelson, chairman and chief executive officer of Advanced NMR Systems Inc. said, "This transaction further strengthens our balance sheet and positions us to concentrate on our future growth following our proposed merger with Advanced Mammography mammography, diagnostic procedure that uses low-dose X rays to detect abnormalities in the breasts. The early diagnosis of breast cancer made possible by the routine use of mammography for screening women increases a woman's treatment alternatives and improves her Systems. We are delighted to have GE as a significant investor in the company." Advanced NMR Systems Inc. and Advanced Mammography Systems Inc. (NASDAQ:MAMO) have executed a definitive agreement to merge. Advanced NMR Systems Inc. is awaiting SEC clearance of proxy material and a related registration statement for subsequent approval of shareholders for the merger. CONTACT: Advanced NMR Systems Inc. Beverly Tkaczenko, 800/476-0569 or GE Medical Systems Charles Young, 414/544-3530 |
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