To All,
"Related OFF TOPIC", FYI,
NEW YORK--(BUSINESS WIRE)--Jan. 29, 1998--Consolidated Technology Group Ltd. (OTCBB:COTG) announced today that on Jan. 28, 1998, International Magnetic Imaging Inc. ("IMI"), a subsidiary of COTG, entered into an agreement to sell its medical diagnostic imaging business, consisting of ten outpatient medical diagnostic imaging centers, an imaging referral network and certain affiliated service companies, to a subsidiary of Syncor International Corporation (NASDAQ:SCOR) for $20.5 million in cash and the assumption by the purchaser of $21 million in debt. The sale is expected to close on or before March 11, 1998, subject to extension as provided in the agreement.
COTG's businesses include, in addition to the management and operation of medical diagnostic imaging centers through IMI, the technical temporary staffing services business, the manufacture and sale of electro-mechanical and electro-optical products, computerized health information systems and related services which are offered to health care providers, and a range of telecommunications services.
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CONTACT: Consolidated Technology Group Ltd.
Lewis S. Schiller, 212/233-4500
George W. Mahoney, 561/362-0917 |
