Sale of the MAGNEX Scientific Ltd
Business to Varian, Inc.
Magnex is pleased to announce the exciting news that Magnex
Scientific Ltd and Varian, Inc. have entered into definitive
agreements to sell the Magnex Scientific Ltd business to Varian,
Inc. The acquisition is subject to regulatory approval and is
expected to close within the next 30 days.
Magnex will continue to operate from its North Oxford base in
Yarnton and will be operated as a wholly owned subsidiary of
Varian, Inc. Dr David Rayner will remain as Managing Director and
will be supported by all the current senior and departmental
management team.
Varian will continue its long time partnership with Oxford
Instruments Superconductivity group who supply most of their NMR
magnets and Magnex will continue to offer
its complete range of MR Imaging, NMR, and FTMS magnet systems to
our existing customer base.
We do
not expect this announcement to affect any of the current
Magnex-customer relationships, and we believe that this
acquisition affords Magnex the opportunity to accelerate the
development of cutting–edge magnet technology, to grow the
company’s leadership position in research and high field strength
MR Imaging magnet systems.
For
further details of the acquisition, please click
here for the full press release. The following is
an extract:
Located in Oxford,
U.K., Magnex will be operated as a wholly owned subsidiary of
Varian, Inc. Varian, Inc. will continue its long-time 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
MR imaging, 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,” notes Garry W. Rogerson, President
and CEO, Varian, Inc. “Magnex’s expertise in the design of MR
imaging magnets will help Varian, Inc. grow in the areas of
pharmaceutical and medical research. In addition, 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.”
The acquisition follows
a successful five-year relationship during which Magnex has been
manufacturing state-of-the-art MR imaging magnet systems for
Varian, Inc. It also builds on Magnex’s supply to Varian, Inc of
the Actively Shielded 800MHz 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. family,”
said David Rayner, Managing Director, and a founder, of Magnex
Scientific Ltd.
This acquisition is
part of Varian, Inc.'s strategy to strengthen the Company's
product portfolio, especially in the focus area of information
rich detection, with internal research and development efforts and
strategic acquisitions of complementary products and technologies.
The closing of the
acquisition is subject to regulatory approval, and is expected to
close within 30 days.
October 11, 2004
Links
Press Release
Varian Inc. - www.varianinc.com
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