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Imatron Aims To Reactivate And Recapitalize Dormant PET Maker

This article was originally published in The Gray Sheet

Executive Summary

Imatron is looking to revitalize positron emission tomography scanner maker Positron Corporation following the firm's Jan. 25 purchase of 51%, or 9 mil. shares of Positron common stock.

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Positron Corporation

Private placement of 42.2 mil. shares of common stock raises $12.7 mil. About 21.5 mil. five-year warrants also were issued in connection with the financing. Proceeds will be used for manufacturing and marketing of the firm's Posicam postitron emission tomography scanners, as well as debt repayment and general corporate purposes. The funding follows Imatron's January purchase of a controlling interest in Positron and is in line with Imatron's plans to reactivate and recapitalize the dormant PET maker (1"The Gray Sheet" Feb. 1, p. 15). The capital infusion comes on the heels of recent favorable reimbursement recommendations for a broad range of PET procedures from the Health Care Financing Administration (2"The Gray Sheet" March 15, p. 20)

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Together, we will improve patient health and experiences while lowering costs across the continuum of care.” This quote, from Andrew Witty, CEO of US health services management company Optum, after the company sealed its acquisition of DaVita Medical Group in 2019, encapsulates the oft-declared goals of vertical integration: efficiencies, improved quality of care, reduced costs. But is this the reality?




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