Imaging equipment distributor Merry X-Ray has acquired fellow distributor SourceOne Healthcare Technologies from its owner Platinum Equity.
Merry X-Ray of San Diego said the acquisition of Mentor, OH-based SourceOne would expand its reach as a provider of imaging technology to hospitals and healthcare centers across North America. Terms of the deal were not disclosed.
In conjunction with the deal, seven SourceOne executives have left the company, including president and CEO Jerry Cirino.
SourceOne was created in 2003 following Platinum Equity's acquisition of the Health Care Products Unit of Royal Philips Electronics and the Diagnostic Imaging unit of PSS World Medical. Platinum Equity combined the two businesses to form SourceOne, which now produces annual revenue of more than $1 billion.
By AuntMinnie.com staff writers
November 21, 2005
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