GE Acquires Clinical Business of Magnex Scientific

(Oxford, UK). Financial terms were not disclosed. Magnex designs and manufactures high-field magnetic resonance imaging (MRI) magnet systems. GE states that the demand for high-field magnets of 3 Tesla and above is growing rapidly, driven by functional whole-body imaging and developments in molecular imaging. GE currently produces MR magnets at .5, .7, 1.0, and 1.5 Tesla field strengths, while Magnex produces magnets at 3 Tesla and above.

As part of the transaction, GE will acquire more than 50 scientists, engineers, and a manufacturing team based in the United Kingdom. The new company will be headquartered in Oxford and will be called GE Medical Systems Oxford Magnets, Ltd.

GE Medical Systems' technology leadership and Magnex's expertise in the very high-field magnet segment means each company's customers will benefit as a result of this transaction, noted Dennis C. Cooke, general manager of global MR for GE Medical Systems.


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