Inovision’s acquisition drive rolls on with purchase of Keithley division

August 19, 1998

Victoreen will move to Keithley’s Cleveland siteNewly established medical imaging firm Inovision of Yorba Linda, CA, announced this month that it has acquired the radiation measurements division of Keithley Instruments for an undisclosed

Victoreen will move to Keithley’s Cleveland site

Newly established medical imaging firm Inovision of Yorba Linda, CA, announced this month that it has acquired the radiation measurements division of Keithley Instruments for an undisclosed amount. The deal adds a fifth company to Inovision's roster, which lists Lafayette Pharmaceuticals of Yorba Linda, Nuclear Associates of Carle Place, NY, Victoreen of Cleveland, and MMI of Southfield, MI.

Keithley was founded in 1946 and manufactures precision electrical measuring instruments, such as equipment that records low-level electrical measurements for research, design engineering, and production test applications. The company's radiation measurements division produces instruments and software that gauge x-ray and nuclear radiation emission levels in medical imaging and therapeutic environments.

Products manufactured by the division include a dosimeter for use in the diagnostic testing of linear accelerators, as well as Triad, an x-ray dosimeter and software kit that measures radiation in modalities such as radiography, fluoroscopy, mammography, and CT. With the acquisition, Inovision also gains Keithley's work-in-progress DoseMap reading service, which uses laser-heated thermoluminescent dositometry (Laser TLD) sheets.

Inovision was formed in July when Lafayette Pharmaceuticals acquired Victoreen and Nuclear Associates (SCAN 7/22/98). By acquiring the Keithley division, Inovision strengthens its position in the radiation measurement instrumentation market, combining Keithley's products with Victoreen's. Although the Keithley and Victoreen product lines overlap, Inovision expects to create an overall product line that reflects a range of prices and technology, according to Herbert Hoebel, president and CEO of Inovision.

Inovision plans to move its Victoreen business to Keithley's Cleveland facilities by the end of the year. The company will also make work-force cuts as a result of the acquisition, according to Hoebel.

"In the consolidation of these businesses, we end up with greater efficiencies, cost reductions, and greater expertise and experience in R&D," Hoebel said. "But we have to do some downsizing in the next few months."

Inovision seeks to dominate the imaging measurement and quality control market in all imaging modalities, serving hospital imaging departments and outpatient centers. Inovision reports annual sales of roughly $60 million, a figure that includes sales contributed by the Keithley acquisition, Hoebel said.