Platinum Equity to Acquire DMS Health Care Technologies
February 6, 2012
Los Angeles, CA – Platinum Equity announced today that it has signed a definitive agreement to acquire DMS Health Technologies from Otter Tail Corporation. Platinum did not disclose terms of the agreement. The transaction is subject to regulatory approval and certain closing conditions.
“DMS Health Technologies has a great reputation and we share the company’s commitment to the highest levels of customer service,” said Brian Wall, the partner at Platinum Equity whose team is leading the DMS acquisition. “We look forward to working with the company’s highly-qualified employees, valued customers, and other partners to help DMS achieve its full potential.”
DMS Health Technologies provides mobile, interim, and fixed-site diagnostic imaging solutions to hospitals, clinics, and other medical providers, including MRI, CT, PET/CT, nuclear medicine, and digital mammography systems. The company also sells and services Philips Medical diagnostic imaging and monitoring equipment in the upper Midwest region and sells and rents refurbished medical equipment.
The planned acquisition of DMS is a natural fit for Platinum given the firm’s experience creating divestiture solutions for corporate parent companies.
“Today signifies an important and exciting day in DMS Health Technologies’ future,” said DMS Health Technologies CEO Paul Wilson. “Platinum Equity’s support will allow us to take the next step in our business development. Platinum’s unique approach to providing operational expertise will serve as a competitive advantage and take DMS Health Technologies to the next level.”
Mr. Wall said the planned acquisition of DMS is a natural fit for Platinum given the firm’s experience creating divestiture solutions for corporate parent companies. A Platinum operations team has already been deployed to ensure a seamless transition once the transaction closes.