Fischer Imaging, GE Medical Swap $6 Million in Stock
DENVER, Colo., March 31 -- Fischer Imaging Corp. announced an agreement with General Electric Company on behalf of its Medical Systems under which 62% of the 1,333,333 shares of Fischer Series D Preferred Stock currently owned by GE Medical will be exchanged for a non-exclusive right to manufacture Fischer's Tilt-C Table System. The remaining 506,667 shares of Series D Preferred Stock are convertible into an equal number of shares of Fischer common stock.
Completion of the necessary technology transfer is required by mid-April, but it is expected that Fischer will continue to manufacture the Tilt-C for GE Medical through at least the end of 1999.
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