<PAGE> 1
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________
FORM 11-K
(Mark One)
[X] Annual Report Pursuant to Section 15(d) of
the Securities and Exchange Act of 1934 (Fee Required)
For the fiscal year ended December 31, 1995
OR
[ ] Transition Report Pursuant to Section 15(d) of
Securities Act of 1934 (No Fee Required)
For the transition period from _____ to _____
Commission File No. 0-14746
______________
HEALTH IMAGES, INC.
PROFIT SHARING AND SAVINGS PLAN
(Full title of the Plan)
HEALTH IMAGES, INC.
(Exact name of issuer of the securities held pursuant to the Plan)
8601 Dunwoody Place
Bldg. 200
Atlanta, Georgia 30350
(Address of principal executive offices)
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<PAGE> 2
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
FINANCIAL STATEMENTS AND AUDIT REPORT
December 31, 1995
<PAGE> 3
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
CONTENTS
- -------------------------------------------------------------------------------
<TABLE>
<S> <C>
REPORT OF INDEPENDENT ACCOUNTANTS 1
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
WITH FUND INFORMATION 2/3
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
WITH FUND INFORMATION 4/5
NOTES TO FINANCIAL STATEMENTS 6/9
SUPPLEMENTAL SCHEDULES
Schedule of Assets Held for Investment Purposes at Year End 11
Schedule of Investment Assets Acquired and
Disposed of Within the Plan Year 12
Schedule of Reportable Transactions 13
</TABLE>
<PAGE> 4
A GEORGIA LIMITED LIABILITY PARTNERSHIP
- --------------------------------------------------------------------------------
PRIVATE COMPANIES PRACTICE SECTION MEMBER AICPA DIVISION FOR CPA FIRMS
SEC PRACTICE SECTION
REPORT OF INDEPENDENT ACCOUNTANTS
The Plan Committee
Health Images, Inc. Profit Sharing
and Savings Plan
Atlanta, Georgia
We have audited the statements of net assets available for benefits with fund
information of the Health Images, Inc. Profit Sharing and Savings Plan (the
Plan) as of December 31, 1995 and 1994, and the related statements of changes
in net assets available for benefits with fund information for the years then
ended. These financial statements are the responsibility of the trustees. Our
responsibility is to express an opinion on these financial statements based on
our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits with fund
information of the Plan as of December 31, 1995 and 1994, and the changes in
its net assets available for benefits with fund information for the years then
ended, in conformity with generally accepted accounting principles.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets
held for investment purposes at year end, of investment assets acquired and
disposed of within the Plan year, and of reportable transactions are presented
for purposes of complying with The Department of Labor's Rules and Regulations
for Reporting and Disclosure under the Employee Retirement Income Security Act
of 1974 and are not a required part of the basic financial statements. The
supplemental schedules have been subjected to the auditing procedures applied
in the audits of the basic financial statements and, in our opinion, are fairly
stated in all material respects in relation to the basic financial statements
taken as a whole.
Atlanta, Georgia
June 5, 1996
<PAGE> 5
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
WITH FUND INFORMATION
DECEMBER 31, 1995
-----------------------------------------------------------------------------
<TABLE>
<CAPTION>
HEALTH IMAGES, STABLE EVERGREEN EVERGREEN EVERGREEN
INC. INVESTMENT VALUE SHORT-INTERMEDIATE BALANCED
COMMON STOCK FUND FUND BOND FUND FUND
<S> <C> <C> <C> <C> <C>
ASSETS
Investments, at fair value -
Health Images, Inc.
Common Stock $ 336,360 $ - $ - $ - $ -
Mutual Funds - 684,581 595,534 309,678 668,548
Participant Notes
Receivable - - - - -
--------- --------- --------- -------- --------
336,360 684,581 595,534 309,678 668,548
Employer's Contribution
Receivable - - - - -
--------- --------- --------- -------- --------
NET ASSETS AVAILABLE
FOR BENEFITS $ 336,360 $ 684,581 $ 595,534 $309,678 $668,548
========= ========= ========= ======== ========
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE> 6
<TABLE>
<CAPTION>
INVESCO
INDUSTRIAL FIDELITY TEMPLETON
INCOME FIDELITY MAGELLAN FOREIGN PARTICIPANT
FUND CONTRAFUND FUND FUND NOTES OTHER TOTAL
<S> <C> <C> <C> <C> <C> <C>
$ - $ - $ - $ - $ - $ - $ 336,360
67,153 279,831 288,090 153,495 - - 3,046,910
- - - - 90,655 - 90,655
--------- --------- --------- --------- --------- --------- -----------
67,153 279,831 288,090 153,495 90,655 - 3,473,925
- - - - - 332,598 332,598
--------- --------- --------- --------- --------- --------- -----------
$ 67,153 $ 279,831 $ 288,090 $ 153,495 $ 90,655 $ 332,598 $ 3,806,523
========= ========= ========= ========= ========= ========= ===========
</TABLE>
<PAGE> 7
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
WITH FUND INFORMATION
DECEMBER 31, 1994
--------------------------------------------------------------------------
<TABLE>
<CAPTION>
HEALTH IMAGES, STABLE FUND
INC. INVESTMENT FUND VALUE FUND FIXED BALANCED
COMMON STOCK FUND FUND INCOME FUND FUND
<S> <C> <C> <C> <C> <C>
ASSETS
Investments, at fair value -
Health Images, Inc.
Common Stock $ 237,000 $ - $ - $ - $ -
Mutual Funds - 634,999 404,994 223,840 479,334
Participant Notes
Receivable - - - - -
--------- --------- --------- --------- ---------
237,000 634,999 404,994 223,840 479,334
Employer's Contribution
Receivable - - - - -
========= ========= ========= ========= =========
NET ASSETS AVAILABLE
FOR BENEFITS $ 237,000 $ 634,999 $ 404,994 $ 223,840 $ 479,334
========= ========= ========= ========= =========
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE> 8
<TABLE>
<CAPTION>
INVESCO
INDUSTRIAL FIDELITY TEMPLETON
INCOME FIDELITY MAGELLAN FOREIGN PARTICIPANT
FUND CONTRAFUND FUND FUND NOTES OTHER TOTAL
<S> <C> <C> <C> <C> <C> <C>
$ - $ - $ - $ - $ - $ - $ 237,000
9,280 75,177 32,908 46,753 - - 1,907,285
- - - - 56,532 - 56,532
--------- --------- --------- --------- --------- --------- -----------
9,280 75,177 32,908 46,753 56,532 - 2,200,817
- - - - - 136,975 136,975
--------- --------- --------- --------- --------- --------- -----------
$ 9,280 $ 75,177 $ 32,908 $ 46,753 $ 56,532 $ 136,975 $ 2,337,792
========= ========= ========= ========= ========= ========= ===========
</TABLE>
<PAGE> 9
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
WITH FUND INFORMATION
YEAR ENDED DECEMBER 31, 1995
--------------------------------------------------------------------
<TABLE>
<CAPTION>
HEALTH IMAGES, STABLE FUNB
INC. INVESTMENT FUNB VALUE FUNB FIXED BALANCED
COMMON STOCK FUND FUND INCOME FUND FUND
<S> <C> <C> <C> <C> <C>
ADDITIONS
Investment Income -
Net Appreciation
in Fair Value of
Investments $ 63,799 $ 40,258 $ 127,962 $ 21,537 $ 118,282
Interest - - 10,486 14,743 17,844
--------- --------- --------- --------- ---------
63,799 40,258 138,448 36,280 136,126
--------- --------- --------- --------- ---------
Contributions -
Participants' 62,300 142,385 111,129 75,540 142,803
Employer's 13,756 24,808 22,505 15,868 30,901
--------- --------- --------- --------- ---------
76,056 167,193 133,634 91,408 173,704
--------- --------- --------- --------- ---------
Total Additions 139,855 207,451 272,082 127,688 309,830
--------- --------- --------- --------- ---------
DEDUCTIONS
Benefits Paid to
Participants 13,058 124,040 17,164 30,249 67,473
Administrative Expenses 130 281 217 101 301
--------- --------- --------- --------- ---------
Total Deductions 13,188 124,321 17,381 30,350 67,774
--------- --------- --------- --------- ---------
NET INCREASE BEFORE
INTERFUND TRANSFERS 126,667 83,130 254,701 97,338 242,056
INTERFUND TRANSFERS (27,307) (33,548) (64,161) (11,500) (52,842)
--------- --------- --------- --------- ---------
NET INCREASE 99,360 49,582 190,540 85,838 189,214
NET ASSETS AVAILABLE
FOR BENEFITS -
BEGINNING OF YEAR 237,000 634,999 404,994 223,840 479,334
--------- --------- --------- --------- ---------
END OF YEAR $ 336,360 $ 684,581 $ 595,534 $ 309,678 $ 668,548
========= ========= ========= ========= =========
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE> 10
<TABLE>
<CAPTION>
INVESCO
INDUSTRIAL FIDELITY TEMPLETON
INCOME FIDELITY MAGELLAN FOREIGN PARTICIPANT
FUND CONTRAFUND FUND FUND NOTES OTHER TOTAL
<S> <C> <C> <C> <C> <C> <C>
$ 9,272 $ 50,749 $ 30,246 $ 10,739 $ - $ - $ 472,844
- - - - - - 43,073
------- ------- ------- ------- ------- ------- ---------
9,272 50,749 30,246 10,739 - - 515,917
------- ------- ------- ------- ------- ------- ---------
40,418 103,939 139,505 77,678 - - 895,697
3,721 10,644 5,720 7,028 - 195,623 330,574
------- ------- ------- ------- ------- ------- ---------
44,139 114,583 145,225 84,706 - 195,623 1,226,271
------- ------- ------- ------- ------- ------- ---------
53,411 165,332 175,471 95,445 - 195,623 1,742,188
------- ------- ------- ------- ------- ------- ---------
1,408 6,660 6,881 5,349 - - 272,282
10 62 27 46 - - 1,175
------- ------- ------- ------- ------- ------- ---------
1,418 6,722 6,908 5,395 - - 273,457
------- ------- ------- ------- ------- ------- ---------
51,993 158,610 168,563 90,050 - 195,623 1,468,731
5,880 46,044 86,619 16,692 34,123 - -
------- ------- ------- ------- ------- ------- ---------
57,873 204,654 255,182 106,742 34,123 195,623 1,468,731
9,280 75,177 32,908 46,753 56,532 136,975 2,337,792
--------- --------- --------- --------- --------- --------- -----------
$ 67,153 $ 279,831 $ 288,090 $ 153,495 $ 90,655 $ 332,598 $ 3,806,523
========= ========= ========= ========= ========= ========= ===========
</TABLE>
<PAGE> 11
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
WITH FUND INFORMATION
YEAR ENDED DECEMBER 31, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
HEALTH IMAGES, STABLE EVERGREEN EVERGREEN EVERGREEN
INC. INVESTMENT VALUE SHORT-INTERMEDIATE BALANCED
COMMON STOCK FUND FUND BOND FUND FUND
<S> <C> <C> <C> <C> <C>
ADDITIONS
Investment Income -
Net Appreciation
(Depreciation) in Fair
Value of Investments $ 53,701 $ 27,315 $ 8,256 $ (5,629) $ (11,510)
Interest 424 1,019 614 362 926
---------- ---------- --------- ---------- ---------
54,125 28,334 8,870 (5,267) (10,584)
---------- ---------- --------- ---------- ---------
Contributions -
Participants' 68,519 96,660 130,398 87,279 174,489
Employer's 15,604 28,644 25,636 19,346 35,829
---------- ---------- --------- ---------- ---------
84,123 125,304 156,034 106,625 210,318
---------- ---------- --------- ---------- ---------
Total Additions 138,248 153,638 164,904 101,358 199,734
---------- ---------- --------- ---------- ---------
DEDUCTIONS
Benefits Paid to
Participants 10,246 81,994 15,111 16,271 22,347
Administrative Expenses 88 259 133 90 233
---------- ---------- --------- ---------- ---------
Total Deductions 10,334 82,253 15,244 16,361 22,580
---------- ---------- --------- ---------- ---------
NET INCREASE BEFORE
INTERFUND TRANSFERS 127,914 71,385 149,660 84,997 177,154
INTERFUND TRANSFERS (51,793) 31,060 (42,653) (37,173) (47,721)
---------- ---------- --------- ---------- ---------
NET INCREASE 76,121 102,445 107,007 47,824 129,433
NET ASSETS AVAILABLE
FOR BENEFITS -
BEGINNING OF YEAR 160,879 532,554 297,987 176,016 349,901
---------- ---------- --------- ---------- ---------
END OF YEAR $ 237,000 $ 634,999 $ 404,994 $ 223,840 $ 479,334
========== ========== ========= ========== =========
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE> 12
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
INVESCO
INDUSTRIAL FIDELITY TEMPLETON
INCOME FIDELITY MAGELLAN FOREIGN PARTICIPANT
FUND CONTRAFUND FUND FUND NOTES OTHER TOTAL
<S> <C> <C> <C> <C> <C> <C> <C>
$ (80) $ (739) $ (281) $ (1,548) $ - $ - $ 69,485
9 63 34 9 - - 3,460
------- -------- -------- -------- -------- --------- -----------
(71) (676) (247) (1,539) - - 72,945
------- -------- -------- -------- -------- --------- -----------
3,655 14,476 6,711 13,047 - - 595,234
- - - - - 11,916 136,975
------- -------- -------- -------- -------- --------- -----------
3,655 14,476 6,711 13,047 - 11,916 732,209
------- -------- -------- -------- -------- --------- -----------
3,584 13,800 6,464 11,508 - 11,916 805,154
------- -------- -------- -------- -------- --------- -----------
- - - - - - 145,969
- 9 - - - - 812
------- -------- -------- -------- -------- --------- -----------
- 9 - - - - 146,781
------- -------- -------- -------- -------- --------- -----------
3,584 13,791 6,464 11,508 - 11,916 658,373
5,696 61,386 26,444 35,245 19,546 (37) -
------- -------- -------- -------- -------- --------- -----------
9,280 75,177 32,908 46,753 19,546 11,879 658,373
- - - - 36,986 125,096 1,679,419
------- -------- -------- -------- -------- --------- -----------
$ 9,280 $ 75,177 $ 32,908 $ 46,753 $ 56,532 $ 136,975 $ 2,337,792
======= ======== ======== ======== ======== ========= ===========
</TABLE>
<PAGE> 13
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
- --------------------------------------------------------------------------------
PLAN DESCRIPTION
The following description of the Health Images, Inc. Profit Sharing and Savings
Plan provides for only general information. Participants should refer to the
Plan agreement for a more complete description of the Plan's provisions.
The Plan is a defined contribution profit sharing plan with a cash or deferred
arrangement covering substantially all employees of Health Images, Inc. (the
sponsor) meeting minimum service requirements. The Plan is subject to the
provisions of the Employee Retirement Income Security Act of 1974. Under the
profit sharing feature of the Plan, the sponsor may make annual contributions
at the discretion of the Board of Directors. The Plan also allows
contributions by participating employees of an amount equal to not less than 1%
and not greater than 15% of their compensation. The sponsor also matches the
employees' contributions at various levels depending on the employees'
contribution percentage. The employees direct their contribution and related
matching to several investment options.
Each participant has a fully vested, nonforfeitable right to all amounts
credited to his account under the elective salary reduction portion of the
Plan. Each participant's right in company contributions vests ratably over a
five year period. Forfeitures are applied to reduce the sponsor's matching or
profit sharing contribution.
Upon service or disability retirement, death or termination, the participant or
beneficiary will receive a lump-sum amount equal to the value of the fund
allocated to his account.
Plan investment options are:
EVERGREEN BALANCED FUND - Invests in common stocks, U.S. Government and
Agency obligations, corporate bonds, money market instruments and
financial futures.
EVERGREEN VALUE FUND - Invests in common stock of companies having sound
financial quality potential for above average capital appreciation. Money
market instruments and financial futures contracts are also utilized.
STABLE INVESTMENT FUND - Invests in guaranteed investment contracts
(GICs), U.S. Government and Agency obligations, financial futures,
floating rate corporate bonds and money market instruments.
EVERGREEN SHORT-INTERMEDIATE BOND FUND - Invests in U.S. Government and
Agency obligations and corporate bonds with maturities generally of seven
years or less and money market instruments.
INVESCO INDUSTRIAL INCOME FUND - Invests in common stocks, preferred
stocks and bonds of industrial companies.
<PAGE> 14
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
- --------------------------------------------------------------------------------
PLAN DESCRIPTION - continued
FIDELITY CONTRAFUND - Diverse fund investing in common and preferred
stocks, bonds and other instruments.
FIDELITY MAGELLAN FUND - Diverse growth-oriented fund investing in a wide
array of stocks, bonds and other instruments.
TEMPLETON FOREIGN FUND - Invests in common stocks traded on foreign
exchanges.
HEALTH IMAGES, INC. - Health Images common stock.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The significant accounting policies and practices followed by the Plan are as
follows:
BASIS OF ACCOUNTING - The financial statements of the Plan are prepared under
the accrual method of accounting.
INVESTMENT VALUATION AND INCOME RECOGNITION - The Plan's investments are stated
at fair value. Shares of registered investment companies are valued at quoted
market prices which represent the net asset value of shares held by the Plan at
year-end. The company stock is valued at its quoted market price. Participant
notes receivable are valued at cost which approximates fair value.
Purchases and sales of securities are recorded on a trade-date basis. Interest
income is recorded on the accrual basis. Dividends are recorded on the
ex-dividend date.
PAYMENT OF BENEFITS - Benefits are recorded when paid.
ESTIMATES AND UNCERTAINTIES - The preparation of financial statements in
conformity with generally accepted accounting principles requires the Plan
Committee to make estimates and assumptions that affect certain reported
amounts and disclosures. Accordingly, actual results may differ from those
estimates.
<PAGE> 15
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
- --------------------------------------------------------------------------------
TAX STATUS
The Plan Committee for the sponsor believes the Plan meets the requirements for
tax qualification described in Section 401(a) of the Internal Revenue Code of
1986 (the Code). Accordingly, the Plan's related trust is exempt from tax
under Section 501(a) of the Code. A favorable determination letter has been
received from the Internal Revenue Service on the tax qualification of the Plan
as amended on June 5, 1992. Continued qualification of the Plan will depend
upon its operation in accordance with applicable requirements of the Code.
INVESTMENTS
Under the terms of an agreement between First Union National Bank of North
Carolina and the Plan, the assets of the Plan are managed by the bank as a
nondiscretionary trustee, giving the bank authority to purchase and sell
investment assets within the framework of the trust instrument.
The following table presents the fair value of investments as of December 31,
1995 and 1994.
<TABLE>
<CAPTION>
1995 1994
NUMBER OF NUMBER OF
SHARES/UNITS FAIR VALUE SHARES/UNITS FAIR VALUE
<S> <C> <C> <C> <C>
COMMON STOCKS
Health Images, Inc. 46,850 $ 336,360 40,591 $ 237,000
---------- ----------
MUTUAL FUNDS
Stable Investment Fund 47,584 684,581 46,829 634,999
Evergreen Value Fund 27,713 595,534 24,383 404,994
Evergreen Short-Intermediate
Bond Fund 30,117 309,678 23,513 223,840
Evergreen Balanced Fund 48,728 668,548 42,913 479,334
Invesco Industrial Income Fund 4,732 67,153 831 9,280
Fidelity Contrafund 6,829 279,831 2,484 75,177
Fidelity Magellan Fund 3,048 288,090 474 32,908
Templeton Foreign Fund 14,642 153,495 4,946 46,753
---------- ----------
3,046,910 1,907,285
---------- ----------
PARTICIPANT NOTES RECEIVABLE 90,655 56,532
---------- ----------
$3,473,925 $2,200,817
========== ==========
</TABLE>
<PAGE> 16
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
- --------------------------------------------------------------------------------
PLAN TERMINATION
Although it has not expressed any intent to do so, the company has the right
under the Plan to discontinue its contributions at any time and to terminate
the Plan subject to the provisions of ERISA. In the event of Plan termination,
participants will become 100% vested in their accounts.
ADMINISTRATIVE EXPENSES
The Plan sponsor paid $15,741 of administrative expenses incurred by the Plan
for 1995 and $17,928 for 1994.
<PAGE> 17
SUPPLEMENTAL SCHEDULES
<PAGE> 18
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AT YEAR END
Item 27a of Form 5500
December 31, 1995
EMPLOYER IDENTIFICATION NUMBER: 58-1485618 PLAN NUMBER: 001
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
CURRENT
IDENTITY OF ISSUE DESCRIPTION OF INVESTMENT COST VALUE
<S> <C> <C> <C>
Health Images, Inc. Common Stock $ 305,471 $ 336,360
First Union National Bank Stable Investment Fund 616,460 684,581
First Union National Bank Evergreen Value Fund 498,505 595,534
First Union National Bank Evergreen Short-Intermediate
Bond Fund 306,411 309,678
First Union National Bank Evergreen Balanced Fund 582,665 668,548
Invesco Industrial Income Fund 59,493 67,153
Fidelity Investments, Inc. Contrafund 237,603 279,831
Fidelity Investments, Inc. Magellan Fund 263,147 288,090
Templeton Foreign Fund 145,096 153,495
Participant Notes 7% - 10% Notes Receivable
from Participants - 90,655
--------- ---------
$ 3,014,851 $ 3,473,925
========= =========
</TABLE>
<PAGE> 19
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
SCHEDULE OF INVESTMENT ASSETS
ACQUIRED AND DISPOSED OF WITHIN THE PLAN YEAR
Item 27a of Form 5500
Year Ended December 31, 1995
EMPLOYER IDENTIFICATION NUMBER: 58-1485618 PLAN NUMBER: 001
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
COST OF PROCEEDS OF
IDENTITY OF ISSUE DESCRIPTION OF INVESTMENT ACQUISITIONS DISPOSITIONS
<S> <C> <C> <C>
Health Images, Inc. Common Stock $ 110,109 $ 74,009
First Union National Bank Stable Investment Fund $ 241,684 $ 231,379
First Union National Bank Evergreen Value Fund $ 178,100 $ 114,050
First Union National Bank Evergreen Balanced Fund $ 233,035 $ 160,736
First Union National Bank Evergreen Short-Intermediate
Bond Fund $ 129,112 $ 64,247
Invesco Industrial Income Fund $ 63,454 $ 14,637
Fidelity Investments, Inc. Contrafund $ 198,582 $ 44,112
Fidelity Investments, Inc. Magellan Fund $ 253,185 $ 27,864
Templeton Foreign Fund $ 113,507 $ 17,086
Participant Notes 7% - 10% Notes Receivable
from Participants $ - $ -
</TABLE>
<PAGE> 20
HEALTH IMAGES, INC. PROFIT SHARING AND SAVINGS PLAN
SCHEDULE OF REPORTABLE TRANSACTIONS
Item 27d of Form 5500
Year Ended December 31, 1995
EMPLOYER IDENTIFICATION NUMBER: 58-1485618 PLAN NUMBER: 001
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
OF ASSET
IDENTITY OF DESCRIPTION PURCHASE SELLING COST ON TRANSACTION NET GAIN
PARTY INVOLVED OF ASSET PRICE PRICE OF ASSET DATE (LOSS)
<S> <C> <C> <C> <C> <C> <C>
Fidelity Investments, Inc. Fidelity Contrafund $ 198,582 $ 198,582 $ 198,582
Fidelity Investments, Inc. Fidelity Contrafund $ 44,112 $ 36,887 $ 7,225
Fidelity Investments, Inc. Fidelity Magellan $ 253,185 $ 253,185 $ 253,185
Fidelity Investments, Inc. Fidelity Magellan $ 17,086 $ 16,706 $ 380
First Union National Bank Evergreen Value Fund $ 178,100 $ 178,100 $ 178,100
First Union National Bank Evergreen Value Fund $ 114,050 $ 105,296 $ 8,754
First Union National Bank Stable Investment Fund $ 241,684 $ 241,684 $ 241,684
First Union National Bank Stable Investment Fund $ 231,379 $ 217,843 $ 13,536
First Union National Bank Evergreen Balanced Fund $ 233,036 $ 233,036 $ 233,036
First Union National Bank Evergreen Balanced Fund $ 160,736 $ 154,592 $ 6,144
First Union National Bank Evergreen Short-Intermediate
Bond Fund $ 129,112 $ 129,112 $ 129,112
</TABLE>
