Oxford Instruments plc ("Oxford Instruments"), a leading provider of high technology tools and systems for industry and research, announces the acquisition of Platinum Medical Imaging LLC ("Platinum").
Platinum is an established US company providing high quality parts and services and turnkey solutions, including equipment selection, site planning, installation and hands-on training for MRI (Magnetic Resonance Imaging) and CT (Computerised Tomography) medical imaging instruments. Recent healthcare reforms in the US have encouraged medical imaging facilities to move to more cost effective service providers. This has presented a growing opportunity in this third party service market to providers like Platinum, which has enjoyed significant growth over recent years due to its high level of customer focus.
"Platinum is committed to offering outstanding value, high standard and no compromise. We do this by listening to our customers and offering them the right level of support and training, and delivering quality products and service. The increased resources that will now be available for our combined business will allow us to expand and fully realise our potential. I am excited about the future of the business" said Jeffrey Fall, President, Platinum Medical Imaging.
The combination of Platinum with OiService, Oxford Instruments' existing MRI Service business in North America, significantly strengthens the Group's broader service offerings and the opportunity for further development of its global service.
Commenting on the acquisition, Jonathan Flint, Chief Executive of Oxford Instruments, stated: "I am delighted to welcome Platinum into the Oxford Instruments Group. MRI service is the cornerstone of our Service business and with Platinum, our position is substantially strengthened in the US market."
Oxford Instruments Plc
Lynn Shepherd – Group Director of Communications
+44 (0)1865 393200
Oxford Instruments designs, supplies and supports high-technology tools and systems with a focus on research and industrial applications. It provides solutions needed to advance fundamental physics research and its transfer into commercial nanotechnology applications. Innovation has been the driving force behind Oxford Instruments' growth and success for over 50 years, and its strategy is to effect the successful commercialisation of these ideas by bringing them to market in a timely and customer-focused fashion.
The first technology business to be spun out from Oxford University over fifty years ago, Oxford Instruments is now a global company with over 1900 staff worldwide and is listed on the FTSE250 index of the London Stock Exchange (OXIG). Its objective is to be the leading provider of new generation tools and systems for the research and industrial sectors.
This involves the combination of core technologies in areas such as low temperature, high magnetic field and ultra high vacuum environments, Nuclear Magnetic Resonance, X-ray, electron and optical based metrology, and advanced growth, deposition and etching.
Oxford Instruments aims to pursue responsible development and deeper understanding of our world through science and technology. Its products, expertise, and ideas address global issues such as energy, environment, security and health.
Oxford Instruments plc
Tubney Woods, Abingdon, Oxon OX13 5QX, UK
Tel: +44 (0) 1865 393200 Fax: +44 (0) 1865 393442
Email: [email protected]
www.oxford-instruments.com