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MRI MEDICAL DIAGNOSTICS INC. ANNOUNCES EXECUTION OF LETTER OF INTENT TO PURCHASE 100 PERCENT OWNERSHIP OF SIERRA CARDIAC IMAGING INC.

MRI MEDICAL DIAGNOSTICS INC. ANNOUNCES EXECUTION OF LETTER OF INTENT
 TO PURCHASE 100 PERCENT OWNERSHIP OF SIERRA CARDIAC IMAGING INC.
 SAN DIEGO, March 3 /PRNewswire/ -- MRI Medical Diagnostics Inc. (NASDAQ: MRMD) announced that it has executed a Letter of Intent to purchase 100 percent ownership of Sierra Cardiac Imaging Inc., an operating Nuclear Medicine Imaging Center located in Roseville, Calif.
 The center has been in operation since March of 1991 and has annualized revenues of $975,000. The net income for the same period was approximately $300,000. The Letter of Intent calls for the purchase to be funded by a combination of cash and stock to be paid out over a minimum of 12 months based on the continued performance of the center. Final purchase price will be calculated by a multiplier of confirmed net earnings. MRI Medical Diagnostics Inc. expects to close this transaction within 30 days.
 MRI Medical Diagnostics Inc. began trading on the NASDAQ Exchange Feb. 13, 1992, under the symbol "MRMD." The Sierra Cardiac Imaging Center is the first of several acquisitions planned for the first two quarters of 1992.
 -0- 3/3/92
 /CONTACT: L. Daniel Holt or Jason Sunstein of MRI Medical Diagnostics, 619-296-5090/
 (MRMD) CO: MRI Medical Diagnostics ST: California IN: MTC SU:


DM-JL -- SD004 -- 4343 03/03/92 09:05 EST
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Publication:PR Newswire
Date:Mar 3, 1992
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