eRad restructuring complete following death of CEO Peter Karoly

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On June 1, Image Medical Corporation of Greenville, South Carolina, the parent company of eRad Inc., announced the completion of a corporate restructuring following the tragic death of Peter J. Karoly, 53, founder, board chairman and CEO of the company. Karoly and his wife, Dr. Lauren Angstadt, and their pilot died on Feb. 2 when their private airplane crashed in New Bedford, Mass.

Edward R. Eidelman Esq., who has been associated with the company since its beginning, having served as corporate legal counsel, has been named to the Image Medical board of directors.

Dr. Roy W. Miller, one of eRad’s founders and currently serves as president, will now be responsible for all company operations.

To raise working capital, stock shares were offered to current investors and key employees, who fully subscribed to the offering. “The support and commitment made during this period by Image Medical investors, and by eRAD employees, will enable us to continue our growth in delivering excellence in PACS workflow solutions,” Miller said.