Stocks & Investing
Sun, July 19, 2009Fri, July 17, 2009Thu, July 16, 2009Wed, July 15, 2009Tue, July 14, 2009Mon, July 13, 2009Fri, July 10, 2009Thu, July 9, 2009Wed, July 8, 2009Tue, July 7, 2009Mon, July 6, 2009Fri, July 3, 2009Thu, July 2, 2009Wed, July 1, 2009Tue, June 30, 2009Mon, June 29, 2009Fri, June 26, 2009Thu, June 25, 2009Wed, June 24, 2009Tue, June 23, 2009Dresner Partners: Dresner Partners Advises Medical Resources in Its Sale to Multiple Buyers in Separate Transactions
Published in Stocks and Investing on Monday, July 6th 2009 at 10:16 GMT, Last Modified on 2009-07-06 10:16:55 by Market Wire
CHICAGO, IL--(Marketwire - July 6, 2009) - [ Dresner Partners ], a leading FINRA-registered, middle-market investment bank and [ IMAP ] member firm, announced today that it advised Bloomfield, N.J. headquartered Medical Resources, Inc. (MRI) in the sale of substantially all the assets of the company in separate transactions to multiple buyers including RadNet, Inc. (
Prior to its sale, MRI was a leading provider of multi-modality outpatient imaging services in 10 states in the Northeast, Midwest and South. The company provided its imaging and associated services through freestanding facilities and (depending on the market) its services included Magnetic Resonance Imaging (MRI), Computed Tomography (CT), X-ray and Fluoroscopy, Ultrasound, Nuclear Medicine, Mammography, Stereotactic Needle Biopsy, Bone Densitometry and Positron Emission Tomography (PET). Despite a challenging regulatory environment for the diagnostic imaging sector, in particular the effects of the Deficit Reduction Act of 2005, as well as the general economic downturn, the company maintained a strong position in its markets. In a recent survey taken by Intelesys, a leader in patient satisfaction reporting, the company's centers scored 98 percent for overall patient satisfaction.
John Valla, MRI's President and Chief Executive Officer, commented, "The professionalism, skills and persistence that Dresner Partners contributed to the strategy and process were critical in closing this unique transaction." John M. Codd, MRI's Associate General Counsel, added, "Dresner Partners' presence at the table was necessary in order to proceed with an orderly liquidation of the company at the highest possible value. They exceeded all expectations."
The transaction was co-managed by [ Ejaz Elahi ], Director of Dresner Partners' Healthcare Practice, and [ Steven M. Dresner ], President of Dresner Partners. Ejaz Elahi stated, "We are pleased to have successfully facilitated the completion of this series of strategic transactions on behalf of MRI in this challenging regulatory and economic environment. The strategy of pursuing multiple simultaneous transactions involved higher complexity, but resulted in a successful outcome." Steve Dresner added, "It was a pleasure to work with John Valla and John Codd during this process. I appreciate all the diligence, hard work and creativity of both the MRI and Dresner transaction teams."
About Dresner Partners
Dresner Partners is a FINRA-registered, middle-market investment bank based in Chicago, Illinois. Founded in 1991, Dresner Partners provides financial advisory services to business owners and managers throughout the world, including institutional private placements of debt and equity, merger and acquisitions, valuations and strategic consulting services. Dresner Partners is also a member of IMAP, an exclusive global organization of leading merger and acquisition advisory services. Its affiliate company, Dresner Corporate Services, is a strategic communications firm specializing in public and investor relations. More information is available at [ www.dresnerpartners.com ].
About Medical Resources, Inc.
Founded in 1979, Medical Resources, Inc., operated and managed fixed-site outpatient diagnostic imaging centers in the United States, with imaging centers 10 states. The company's diagnostic imaging centers provided a wide range of imaging services in a comfortable, service-oriented environment to patients referred by physicians.
