Printer Friendly

MAXUM HEALTH CORP. ANNOUNCES FOURTH QUARTER CHARGE AND RESTRUCTURING

 DALLAS, March 1 /PRNewswire/ -- Maxum Health Corp. (AMEX: MXH) today reported release of its fourth quarter and year-end 1992 results has been deferred, pending determination of a fourth quarter charge. While ordinary operating results for the three months ended Dec. 31, 1992 were consistent with expectations, the company is taking a write down of assets and establishing reserves relating to the restructuring of its mobile MRI business. Though the magnitude of the charge has yet to be determined, it will result in a significant loss for 1992.
 The charge stems from accelerating adverse market conditions in the company's mobile imaging business. Maxum's chairman and chief executive officer, William L. MacKnight commented, "Our 1992 ordinary operating results before the charge reflect progress in improving our performance, but we expect these adverse market conditions to increase further in 1993 and are restructuring to accelerate cost reduction and to make an orderly shift to higher margin services."
 MacKnight announced the promotion of Nancy J. Corday to chief operating officer. Joining the company in 1992, Corday earlier served as senior vice president, Maxum Development Group. MacKnight commented, "A 17 year veteran in health care management, Corday successfully has identified and executed plans for operational turnaround and diversification of Maxum and other public companies. We believe these qualifications will serve Maxum well during a period requiring consistent, intense operating focus."
 Company officials were unable to comment further about the nature and magnitude of the planned charge until its annual audit is completed.
 Maxum Health Corp. presently owns and operates imaging centers and provides diagnostic imaging and lithotripsy under service contracts with nearly 150 hospitals.
 -0- 3/1/93
 /CONTACT: Nancy J. Corday, chief operating officer of Maxum Health Corp., 214-716-8225/
 (MXH)


CO: Maxum Health Corp. ST: Texas IN: HEA SU: RCN

SH -- NY079 -- 1479 03/01/93 13:50 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 1, 1993
Words:305
Previous Article:IBM ANNOUNCES DEVICE DRIVER DEVELOPMENT KIT FOR OS/2
Next Article:CHRISTENSEN NAMED PRESIDENT OF MILES' CONSUMER HEALTHCARE PRODUCTS
Topics:


Related Articles
MAXUM HEALTH CORP. STOCK REPURCHASE APPROVED
MAXUM REPORTS THIRD QUARTER EARNINGS
MAXUM HEALTH CORP. BOARD OF DIRECTORS ELECTS GAINES W. HAMMOND JR. AND APPOINTS RESTRUCTURING COMMITTEE AND CHAIRMAN; GENE MCGREVIN RESIGNS
MAXUM HEALTH CORP. ANNOUNCES FIRST QUARTER RESULTS AND RESTRUCTURING PROGRESS
MAXUM HEALTH CORP. REPORTS SECOND QUARTER LOSS AND ELECTION OF OFFICERS
MAXUM HEALTH CORP. REPORTS THIRD QUARTER LOSS
MAXUM HEALTH CORP. REPORTS 1993 FINANCIAL RESULTS
MAXUM HEALTH CORP. ANNOUNCES SALE OF THREE SUBSIDIARIES
MAXUM HEALTH CORP. ANNOUNCES SALE OF THREE SUBSIDIARIES
MAXUM HEALTH CORP. REPORTS IMPROVED 1994 FINANCIAL RESULTS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters