Imaging Diagnostic Systems sells headquarters

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Imaging Diagnostic Systems (IMDS), a breast cancer imaging systems developer in Fort Lauderdale, Fla., has completed a financing arrangement intended to reduce its dependency on equity financing. The developer said it has sold its headquarters building for $4.4 million in cash pursuant to a sale and leaseback agreement.

Tim Hansen, IMDS CEO, said, “We have tapped a cash source at the right time to support the PMA process without diluting our investors with continued drawing on our equity funding agreement.”

Details of the sale/leaseback agreement are available in an 8K filing with the SEC.