Business

Medical isotope company forms new joint venture

Advanced Medical Isotopes Corp. in Kennewick has formed a joint venture with Spivak Management Inc. and Mann Healthcare Partners Inc. to develop and execute its business strategy.

Advanced Medical Isotopes Corp., or AMIC, produces and distributes medical isotopes for medical diagnostic and treatment use.

Spivak will provide consulting services for five years and Mann Healthcare will provide consulting services for three years.

That will include strategic advice, deal-specific advice and assistance, and board representation.

Mann Healthcare also will help with introductions to potential investors.

As part of the joint venture, the consulting companies are purchasing rights to buy up to about 20 million shares of AMIC common stock at an initial price of 20 cents per share.

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