Primedex Health Systems, Inc. (Nasdaq BB: PMDX) Message Board

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Biotech / Medical : Primedex Health Systems, Inc. (Nasdaq BB: PMDX)

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To: Edward P. Buzinky who wrote (4)	3/21/1997 7:24:00 PM
From: Edward P. Buzinky	of 39

PMDX announced today that DIAM sold its ultrasound business to DHSM for $9M - 7.5M in cash, 1.5M in assumed debt. I believe this is a valuation record for the industry. 9M for a 4M a year in revenue business. DHSM also got an option to buy 4 MRI hospital-based centers from DIAM, about a $7M per year in revenue business. Got to believe you apply the same multiple. That gives you $15.75M in cash/assumption of debt. PMDX will also help manage the operations, gaining an income stream. Check out the DHSM release and see that they are very interested in closing the second piece. PMDX has a market cap of 16M at today's close - bid $.37. PMDX/DIAM should have approx. $80M in revenue this fiscal year, and the ultrasound was not their focus. They have about 30 free-standing imaging centers clustered in choice locations in southern California. MRII is gaining speed with their CA acquistion program. HRC is a monster. Despite the debt, which should be substantially dented by the DHSM deals, there is tremendous value here which PMDX seems intent on monetizing. None of this good stuff is reflected in the PMDX stock - a completely unloved, ignored, forgotten animal. Best Wishes.

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