Medical Imaging Corp. completed the acquisition of membership interests in Partners Imaging of Venice and Partners Imaging of Port Charlotte, and Partners Imaging of Naples.

Medical Imaging Corp. (OTCPK:MEDD) entered into a purchase agreement to acquire membership interests in Partners Imaging of Venice and Partners Imaging of Port Charlotte and Partners Imaging of Naples for $1.8 million on August 28, 2014. The centers recorded revenues of approximately $2.8 million in 2013. Medical Imaging has made a refundable payment of $0.02 million, which will be credited against the purchase price at closing. The deal is subject to certain customary closing conditions, including, satisfactory completion of the due diligence review, regulatory compliance of the Businesses, financial audit of the Businesses and obtain financing for the purchase price. The deal is expected to complete by October 31, 2014.

Medical Imaging Corp. (OTCPK:MEDD) completed the acquisition of membership interests in Partners Imaging of Venice and Partners Imaging of Port Charlotte, and Partners Imaging of Naples on October 31, 2014. Financing for the transaction was provided by Grenville Strategic Royalty Corp. by way of a $2 million royalty purchase. Partners Imaging Center of Venice was acquired for $0.96 million, Partners Imaging Center of Naples for $0.54 million and Partners Imaging Center of Charlotte for $0.3 million.