Oxford Instruments Medical taken over by Viasys Healthcare
1 March 2005
Conshohocken, Pa, USA. VIASYS Healthcare Inc. (NYSE:VAS) has acquired the
global Medical Division of Oxford Instruments plc, Oxford Instruments
Medical, based in Old Woking, U.K., for £24 million (approximately $46.0
million). Oxford Instruments Medical had 2004 global revenues of
approximately $57 million.
"We believe that the Oxford Instruments Medical acquisition represents a
significant event in the global neurovascular marketplace," said Lori Cross,
Group President of VIASYS NeuroCare. "After the complementary products,
installed base, and operations are combined, VIASYS will offer its hospital
and physician-office customers the most comprehensive portfolio of single
and multi-modality solutions available."
Oxford Instruments Medical's largest business is neurodiagnostics,
primarily electromyography (EMG) equipment and neurosupplies (EMG needles).
Oxford Instruments Medical's equipment is both intuitive and innovative,
while its patented EMG needle design offers improvements in both clinical
performance and patient comfort. The obstetrics and cardiology businesses
also bring valuable brand recognition and are backed by a reputation for
product quality and technological innovation.
"This transaction creates an outstanding strategic fit for our customers
and provides our employees with excellent career opportunities with an
industry leader in medical technology," added Peter Abrahams, Managing
Director of Oxford Instruments Medical. "Our customers, patients and
employees will benefit significantly from their new association with
VIASYS."
"We believe that VIASYS has become the leading provider of neurodiagnostic
systems and supplies. As the industry continues to consolidate, we expect
the combined skills of Oxford Instruments Medical and VIASYS to deliver
best-in-class multi-modality systems designed to improve outcomes for
caregivers and their patients," commented Randy Thurman, Chairman, President
and CEO of VIASYS Healthcare Inc. "Furthermore, Oxford Instruments Medical
accelerates our strategy of building our leadership position in neurological
and respiratory technologies, increasing sales from medical disposables and
acquiring products that fit within our worldwide sales, service, and
distribution."
Source: Viasys Healthcare
Website: www.viasyshealthcare.com
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