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Amphion in talks to merge imaging business with unnamed private co

The private firm it is in talks with has developed a system that can more accurately diagnose and monitor ailments such as chronic obstructive pulmonary disease, asthma and cystic fibrosis

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The enlarged business specialises in pulmonary imaging.

Tech company incubator Amphion Innovations (LON:AMP) said it had signed a draft agreement to merge m2m, one of its investee companies, in with an unnamed firm that is a ‘pioneer’ in pulmonary imaging.

If the deal goes ahead (so far signed a memorandum of understanding has been signed), then AIM-listed Amphion would own 40% of the enlarged business.  

The private firm it is in talks with has developed a system that can more accurately diagnose and monitor ailments such as chronic obstructive pulmonary disease, asthma and cystic fibrosis.

It is estimated 40mln people are affected by lung disease in the US,  the world’s main healthcare market, costing US$150bn annually.

Amphion chief Richard Morgan told investors: "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.”

Quick facts: Amphion Innovations PLC

Price: 0.15 GBX

AIM:AMP
Market: AIM
Market Cap: £314.96 k
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