Varian Acquires MRI Magnet Manufacturer

(Palo Alto, CA, USA) has agreed to acquire Magnex Scientific, Ltd. (Oxford, UK) for U.S.$32 million. Magnex designs and manufactures magnetic resonance imaging (MRI) magnets. It is also an international supplier of vertical high-resolution nuclear MR (NMR) magnets, superconductor magnets for Fourier transform mass spectroscopy (FTMS), and MR microscopy gradients.

In connection with the acquisition, Varian also plans to rationalize its field support administration in the United Kingdom, which is expected to result in charges to earnings totaling about $2.0 million. Magnex will be operated as a wholly owned subsidiary of Varian. Varian will continue its longtime partnership with Oxford Instruments Superconductivity, which supplies high-resolution magnets for the company's NMR spectrometer systems, and Magnex will continue to offer its complete range of MRI, NMR, and FTMS magnets to its existing customer base.

"The acquisition of Magnex is strategic to advancing Varian, Inc.'s drive into magnetic resonance imaging. Magnex's expertise in the design of MR imaging will help Varian, since magnet technology is core to both MR imaging and high-resolution NMR. Having this capability further supports Varian's efforts to expand the use of these information-rich detectors,” stated Garry W. Rogerson, president and CEO, Varian.

The acquisition follows a successful five-year relationship, during which Magnex has been manufacturing state-of-the-art MRI magnet systems for Varian. It also builds on Magnex's supply to Varian of the Actively Shielded 800 mHz magnet. "This acquisition affords Magnex the opportunity to accelerate the development of cutting-edge magnet technology to grow our position in MR imaging magnets as well as to improve customer care and after-sales support through Varian, Inc.'s global sales and support infrastructure. We look forward to this exciting new phase in the history of Magnex and its continuing development within the Varian, Inc.'s family,” remarked David Rayner, managing director and a founder of Magnex.


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