Philips completes Intermagnetics buy:
This article was originally published in Clinica
Royal Philips Electronics has completed its $1.3bn cash acquisition of Intermagnetics, which makes superconducting magnets for use in MRI systems. The business will become part of Philips Medical Systems, and Intermagnetics' headquarters in Latham, New York, will become the global headquarters of the group's enlarged magnetic resonance business. Philips will book acquisition-related charges of about Euro75m ($96m) in the fourth quarter.
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