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Oxford Instruments Buys Platinum Medical for Up to $55 Million


11/8/2011 9:43:26 AM

Oxford Instruments plc. said Friday it would buy Platinum Medical Imaging LLC., a U.S. MRI and CT parts and service firm, for up to $55 million. The deal calls for an initial $18 million debt-free, cash-free consideration with deferred payments of up to $37 million over the next three years, depending on Platinum's performance. The purchase, from Platinum's management, will be funded by existing facilities and should be enhancing to earnings per share this year, Oxford said. Oxford is a high-tech tool business, headquartered in Abingdon, UK, which also runs its own MRI service segment in North America and Japan.

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