Amphion Innovations announces m2m merger

Amphion Innovations has signed a memorandum of understanding to merge its partner company m2m Imaging Corp with an undisclosed pulmonary imaging technology.

Amphion, which develops medical, life science and technology businesses, said it expects to own around 40% of the combined merged entity.

As of the end of December last year, Amphion owned 25.6% of m2m, which is a US-based company focused on developing a range of pre-clinical and clinical imaging system accessories for MRI systems.

Chief executive officer Richard Morgan said: “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.”

At 1526 GMT, Amphion shares were up 1.4% at 5.45p.