Insight Health Services Corp

InSight Health Services Corp., which provides diagnostic imaging and management services, said Friday that it has agreed to acquire a Connecticut firm. Terms weren't disclosed. Signal Medical Services Inc. in Farmington, Conn., which last year had $21 million in revenue, serves 61 customers in 11 states and will add Connecticut, Massachusetts and Vermont to InSight's market coverage. Signal Medical operates 13 mobile diagnostic units and seven fixed-site units.

InSight Health Services Corp., Newport Beach-based provider of diagnostic imaging treatment and related services, reported sharp gains in net income and revenue for the fourth quarter. Net income rose to nearly $2 million, or 21 cents a share, for the three months ended June 30, from $533,000, or 10 cents a share, a year earlier. Revenue totaled $33.9 million, up from $24.7 million. For the year, the company posted net income of $512,000, or 6 cents a share, after a one-time charge of $6.

InSight Health Services Corp: The Newport Beach provider of diagnostic imaging and related services said net income for the third fiscal quarter ended March 31 increased to $1.9 million, or 20 cents a share, from $380,000, or 7 cents a share, for the like period a year ago. Revenue gained 24% to $28.6 million from $23 million. For the nine months, the company posted a net loss of $1.5 million, or 19 cents a share, which included a charge of $6.3 million.

InSight Health Services Corp., which provides diagnostic imaging and treatment services, completed the acquisition of the imaging assets of Open MRI Inc., a magnetic resonance imaging center in Hayward, Calif. Financial terms were not disclosed. Open MRI generates about $2 million in revenue a year, InSight Health said. The acquisition is the first since InSight was formed through the merger of American Health Services Corp. and Maxum Health Corp. Dr.

InSight Health Services Corp., Newport Beach provider of diagnostic imaging and related management services, said net income for the fourth quarter totaled $1.9 million, or 21 cents a share, down 5% from $2 million, or 21 cents a share, for the same period last year. During the 1999 fourth quarter, InSight recorded a one-time charge of $3.3 million for reorganization and other costs, and a $3.5-million benefit for income taxes. Revenue for the quarter ended June 30 increased 31% to $44.

InSight Health Services Corp. said Wednesday that a $28.6-million buyout offer has been withdrawn by investors who cited other business opportunities that may be available to the diagnostic-imaging provider. The Carlyle Group and the Halifax Group, which were offering to buy shares they didn't already own, said they no longer would pursue a $10-a-share offer for InSight's outstanding stock. The investor group owns about one-third of the Newport Beach-based company's voting shares.

Diagnostic imaging provider InSight Health Services Corp. was sued Friday by shareholders who say they won't receive fair value for their stock in a proposed $28.6-million buyout by investors. InSight, of Newport Beach, said earlier in the week that two investors' groups--Carlyle and Halifax--offered $10 per share to acquire InSight stock that the groups don't already own.

InSight Health Services Corp., benefiting from booming demand for MRIs, CT scans and its other diagnostic imaging services, said Thursday that its quarterly profit had doubled. But it also disclosed that it may be putting itself on the sale block. InSight said it has hired a financial advisor to help explore a possible sale, merger or other options.

* InSight Health Services Corp. said Monday it has named Steven T. Plochocki president and chief executive. Plochocki was president and chief executive of Centratex Support Services Inc., a health care support-services company. Newport Beach-based InSight's previous president and chief executive, E. Larry Atkins, resigned in July. Frank E. Egger, InSight's chairman, acted as interim president and chief executive during the search for a replacement.

Debt securities issued by InSight Health Services Corp. were put on a credit watch Friday for a possible downgrade after the Newport Beach provider of diagnostic imaging services said it may put itself up for sale. Credit agency Standard & Poor's said in a press release that InSight has comfortable operating cash-flow margins and other positive operating ratios, but "it is highly leveraged as a result of prior ownership changes." The Carlyle Group and General Electric Co.