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.

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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.