Philips Completes Purchase of Intermagnetics

They’re answering the phone “Philips Medical Systems” at the old Intermagnetics General Corp. offices now in Latham, NY.

Royal Philips Electronics, based in Amsterdam, The Netherlands, has officially completed its acquisition of Intermagnetics General Corp. in a $1.3 billion deal.

Intermagnetics developed, manufactured and marketed high-field superconducting magnets used in Magnetic Resonance Imaging (MRI) systems. It will be doing much of the same under the Philips name.

Intermagnetics employed about 1,150 people. Its headquarters in Latham is now the global headquarters of Philips’ enlarged Magnetic Resonance business.