November 10, 2008
Diagnostic Imaging - Enters Purchase Agreement to Acquire Teleradiology Company
LAS VEGAS, NV, Nov 10, 2008 Diagnostic Imaging International Corp. (OTCBB: DIIG) announced today that the Company has entered a purchase agreement to acquire Canadian Teleradiology Services (CTS).
CTS specializes in Teleradiology, the remote readings of MRI's, CT, PET, CAT and X-rays. This service allows hospitals in remote areas to provide radiology services to its indigenous community 24hrs per day. In large population centers, CTS can assist with the overwhelming shortage of radiologists. CTS has a proven formula that assists both rural and urban hospitals.
CTS was established in 2005 and is growing its hospital service base each year. Revenues have been increasing each year and CTS continues to sign up more hospitals for its services. While Teleradiology is a large business in the U.S. that provides a crucial service to the healthcare industry, it is still in its infancy in Canada where CTS is located and now is positioning itself to be a leader in the field.
Details of the acquisition can be found in the Company's 8-K filing.
The acquisition is contingent on financing and a due diligence review of CTS.
If all the conditions to closing are satisfied, including the financing and due diligence review, the anticipated closing date is December 2, 2008.
"The acquisition of CTS will allow Diagnostic Imaging to begin realizing revenues and cash flow and provide a needed service to the healthcare market." said Richard Jagodnik, CEO.
To find out more about Diagnostic Imaging International Corp. (OTCBB: DIIG), visit our website at diig.biz or contact the Company directly at 877-331-3444.
About the Company
Diagnostic Imaging International Corp. plans to open, acquire and operate diagnostic imaging clinics in Canada and the United States. The Company's mission is to provide quality MRI services to its clients, delivering convenience, accuracy and the highest standard of care and service. The Company's mandate is to make available, on a timely basis, imaging services for individuals, physicians, workers compensation boards and insurance companies. In addition, DIIC is also interested in CT scan equipment and will examine future opportunities for PET (Positron Emission Tomography) clinics.
This news release includes forward-looking statements that reflect Diagnostic Imaging International Corp. and its subsidiary companies current expectations about its future results, performance, prospects and opportunities. Diagnostic Imaging International Corp. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward-looking statements are based on information currently available to Diagnostic Imaging International Corp. and are subject to a number of risks, uncertainties and other factors that could cause Diagnostic Imaging International Corp.'s actual results, performance, prospects or opportunities in the remainder of 2008 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements.