Amphion Innovations (AMP)

 

Amphion partner company m2m to merge

Amphion Innovations has signed a memorandum of understanding with an undisclosed pioneer and leader in advanced pulmonary imaging technology.

Conditional upon the fulfillment of certain terms, and following the merger of Amphion's Partner Company, m2m Imaging Corp. with the private company, Amphion expects to own approximately 40% of the combined merged entity.

m2m is a US-based company focused on developing a range of preclinical and clinical imaging system accessories for MRI systems. As of 31 December 2014, Amphion owned 25.58% of m2m. The private company owns an advanced pulmonary imaging technology platform which is used to more accurately diagnose and monitor major lung diseases, including COPD, asthma, and cystic fibrosis.

Amphion chief executive Richard Morgan said: "There is a continuing need for better imaging to more accurately diagnose and monitor major lung diseases. Given its unique position with regard to sensitivity, resolution, and non-invasiveness, MRI plays an increasingly important role in providing these higher quality images. The Private Company which we plan to merge with m2m has advanced pulmonary imaging technology which is sold as an add-on component to an existing, already installed base of MRI machines. The combined company will have an array of products serving the multi-billion dollar MRI marketplace in both the US and Europe. "Lung Disease is a major global public-health issue affecting over 40 million people in the US and costs the $150 billion annually."