Grenville to provide up to $3 mln in royalty funding to Medical Imaging

Grenville Strategic Royalty Corp has agreed to provide US$2 million in funding to Medical Imaging Corp, with an option to advance an additional US$1 million. In exchange, Grenville will receive a royalty based on the company's gross revenue according to Grenville's average royalty rate of between 1 percent and 4 percent. Based in Toronto, Medical Imaging is a medical diagnostic imaging services business focused on the North American market. It used a portion of Grenville's investment to complete the acquisitions of three diagnostic imaging clinics in Florida.

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