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Applied Imaging Corp.

This article was originally published in The Gray Sheet

Executive Summary

Acquisition of the Perceptive Scientific Instruments genetic imaging business of International Remote Imaging Systems for $1.35 mil. in Applied Imaging Corp. stock is noted in a recent 8-K filing with the Securities and Exchange Commission. IRIS previously had agreed to sell PSI to an undisclosed company for $2.5-5 mil. in cash, but that deal fell through when the government did not approve the transfer of their research contracts to the potential buyer. "PSI provides us with a strong position among large clinical reference laboratories, complementing our well-established strength in hospital and research genetics laboratories," Applied Imaging Chairman and CEO Jack Goldstein explains in a July 6 release announcing the deal
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