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23 Oct 2018 | 09:35

Avingtrans acquires instrumentation group Tecmag

Avingtrans said Tuesday it had acquired Tecmag for a total of $0.24m net of debt boosting the company’s ability to produce magnetic resonance imaging and nuclear magnetic resonance systems.

Tecmag, based in Houston, Texas, designed, manufactured, tested and installed instrumentation, including full consoles, system upgrades, and solid-state probes, mainly for magnetic resonance imaging and nuclear magnetic resonance systems, Avingtrans said.

The acquisition would integrate Tecmag's expertise in consoles and spectrometers with that of Scientific Magnetics, acquired by the Avingtans in February last year, in the area of superconducting magnets and cryogenics.

The combination of these two businesses would allow Avingtrans and its partners to produce complete magnetic resonance imaging and nuclear magnetic resonance systems.

At 9:35am: (LON:AVG) Avingtrans PLC share price was +1p at 223.5p

Story provided by StockMarketWire.com
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