SOURCE: Platinum Equity

Platinum Equity

February 06, 2012 21:18 ET

Platinum Equity to Acquire DMS Health Technologies

LOS ANGELES, CA--(Marketwire - Feb 6, 2012) - 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.

"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.

About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 130 acquisitions.

About DMS Health Technologies
DMS Health Technologies, an operating company of Otter Tail Corporation, specializes in delivering products and services to the healthcare industry. DMS Health Technologies is a distributor of Philips Healthcare diagnostic imaging equipment and patient monitoring equipment in the upper Midwest; sells supplies and accessories, and reconditioned equipment, ultrasound and biomedical and diagnostic imaging parts nationwide. DMS Health Technologies also provides mobile, interim and fixed-site diagnostic imaging solutions (MRI, CT, PET/CT, Nuclear Medicine, Ultrasound, Cardiac/Angio, Bone Densitometry and Digital Mammography) across the United States; and diagnostic imaging equipment service in the upper Midwest. For more information about DMS Health Technologies, visit www.DMSHealthTechnologies.com.

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