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ORANGE COUNTY BRIEFLY

Cash Deals for InSight

October 15, 1997|Times Staff and Wire Reports

NEWPORT BEACH — InSight Health Services Corp. said Tuesday it has received a major infusion of capital, selling $25 million of preferred stock to Carlyle Group L.P., and arranging a stock conversion with a major creditor, General Electric Co.

The company also announced a $125-million financing arrangement with NationsBank N.A.

The credit will be used to finance growth initiatives, acquisitions and further development of InSight products, the company said.

The company said it will increase its board to nine members. Carlyle Group, a Washington investment firm, has the right to appoint two directors and General Electric can appoint one.

InSight is the result of a merger last year of American Health Services Corp. of Newport Beach and Dallas-based Maxum Health Corp., owners of high-tech diagnostic centers.

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