Bayer (ETR:BAYN) has reportedly sold its Multi Vendor Service medical device repair business to private investors who plan to merge it with 2 other firms to form a new company based in Pittsburgh, Penn., according to a Pennsylvania Post-Gazette report.
Bayer’s MVS provides service and repairs for radiology devices, covering ultrasound probes, magnetic resonance imaging coils and other related devices, according to the paper.
The business was previously part of Bayer’s radiology unit in Pittsburgh, according to the report, and will be combined with Tulsa, Okla.-based Westco Inc. and Denver-based MD MedTech. The new combined company will operate under the moniker Innovatus Imaging Corp.
Innovatus, which currently has 170 employees, said it plans to acquire the European operations of MVS, which are based in The Netherlands, the Post-Gazette said.
Terms of the sale were not disclosed, according to the report.