InSight Health Services Holdings Enters into Pact to Sell Six Diagnostic Imaging Centers in California

ISGT | news | PowerRating | PR Charts -- InSight Health Services announced that a subsidiary of InSight has entered into a definitive asset purchase pact to sell six diagnostic imaging centers it owns in Southern California to RadNet Management, Inc. for $8.5 million.

The six centers are located in Simi Valley, Thousand Oaks, Westlake Village, Encino, Van Nuys and Valencia. Completion of the transaction is subject to customary closing conditions. RadNet and InSight expect to complete the transaction in March 2008.

Richard Nevins, InSight s Interim Chief Executive Officer, stated: InSight is committed to building its business around core markets, where our strong presence yields strong operating results. This important transaction is an example of how we see our core markets strategy developing. We intend to complete additional transactions; some where we acquire facilities in current or potential core markets and others, like this transaction, where we sell assets in non-core markets. In this case, we will sell a group of non-strategic, and in several cases underperforming, centers, giving us the opportunity to reinvest the proceeds where we can realize the benefits of our core market strategy.

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