Digirad Calls Upon PDI To Immediately Engage In Meaningful Talks - Quick Facts

(RTTNews) - Digirad Corp. (DRAD) has sent a letter to PDI, Inc. (PDII), a healthcare commercialization services company, responding to PDI's summary rejection of Digirad's proposal to acquire the company.

Digirad calls upon PDI to immediately engage in meaningful discussions relating to a transaction and to operate in the ordinary course of business and to not spend its cash, or take on additional debt, on acquisitions or other extraordinary transactions. Digirad believes that earlier to committing to any such transaction, PDI's stockholders should have a chance to fully consider a transaction with Digirad. In addition, no acquisition or extraordinary transaction by PDI should be pursued without prior stockholder approvals.

According to the letter, the current board of PDI has overseen significant destruction of stockholder value as its financial performance has steadily deteriorated in the past five years. During the timeframe of the reconstituted Board's tenure at Digirad, the PDI share price has declined by 78%. During the 1-year, 3-year and 5-year periods ended October 29, 2014, the PDI share price has declined by 69%, 75% and 67%, respectively.