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THERMOTREX SIGNS LETTER OF INTENT TO ACQUIRE LORAD CORPORATION

 THERMOTREX SIGNS LETTER OF INTENT TO ACQUIRE LORAD CORPORATION
 SAN DIEGO, Sept. 22 /PRNewswire/ -- ThermoTrex Corporation (AMEX: TKN) has entered into a letter of intent to acquire Lorad Corporation, a leading manufacturer of low-dose X-ray mammography systems and minimally invasive fine-needle biopsy systems.
 The acquisition is subject to several conditions, including completion by ThermoTrex of its due diligence investigation, the scope and results of which must be acceptable to ThermoTrex; regulatory approvals; approval by the board of directors for ThermoTrex; and approval by holders of at least two thirds of Lorad's shares. ThermoTrex would acquire the privately held company by paying $12,000,000 in cash and issuing approximately 1,350,000 restricted shares of ThermoTrex common stock. Most of the shares would be subject to resale restrictions for two years.
 Danbury, Connecticut-based Lorad had revenues of $15 million for the first seven months of 1992. "The acquisition of Lorad fits well into our overall business strategy," said Firooz Rufeh, president and CEO of ThermoTrex. "With its well-established position in mammography equipment, Lorad can provide the manufacturing and marketing expertise we need to take our medical imaging devices, based on sonic CT technology, from laboratory prototypes to integral equipment in diagnostic centers."
 ThermoTrex Corporation develops advanced technology in electro-optic and electro-acoustic systems, signal processing, materials technology, lasers, and thermionic and thermoelectric direct-energy conversion. Currently, the company is developing several commercial products, including the sonic CT (computerized tomography) system for real-time imaging of soft tissue, a passive microwave camera that would enable pilots to "see" through fog and clouds to enhance navigation, and a wind-shear detector to provide pilots with advance warning of wind shears. ThermoTrex Corporation is a public subsidiary of Thermo Electron Corporation.
 -0- 9/22/92
 /CONTACT: John Hatsopoulos of Thermo Electron 617-622-1111/
 (TMO TKN) CO: Thermo Electron Corporation; Thermotrex ST: Massachusetts IN: TMO SU:


CN -- NE001 -- 2041 09/22/92 09:35 EDT
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Publication:PR Newswire
Date:Sep 22, 1992
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