Diagnostic Imaging International (DIIG) is in the process of exploring potential acquisitions for a standalone MRI clinic. As part of the DIIG business objective, in addition to expanding Canadian Teleradiology Services (CTS), DIIG's mandate is to set up MRI clinics in the US, with an anticipated target of acquiring at least one clinic per year over the next 3 years.
DIIG has been planning to acquire diagnostic imaging clinics including MRI clinics, computed tomography scan equipment and to evaluate future opportunities for Positron Emission Tomography (PET) clinics. Management is targeting clinics that are currently generating up to $3m per year in revenue and earning up to $1m in EBITDA.
The acquisition of an MRI clinic would provide DIIG a second revenue stream and compliment its teleradiology business. DIIG’s teleradiology subsidiary, CTS, currently services more than in 15 hospitals. Recently, it was announced that CTS has signed a new contract that may increase company revenues by up to 25%.
Mitchell Geisler, CEO said: “The decision to actively pursue the second phase of our business plan demonstrates our commitment to growing the company. While the expansion of CTS is still one of our main priorities, the groundwork must now be laid to grow the company within the healthcare sector.”
DIIG owns and operates CTS, a Teleradiology company. CTS provides remote radiology (teleradiology) technology to hospitals and practices, on-call 24 hours a day, 7days a week. CTS connects clients with a global teleradiology network, providing access to global partner facilities and American and Canadian board-certified radiologists.