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Oxford Instruments plc Acquisition of Platinum Medical Imaging

oxford instrumentsOxford 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."

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