Intermagnetics names new CEO

MRI magnet supplier Intermagnetics General (IGC) of Latham, NY, in May appointed a new CEO to its management team. Effective June 1, Glenn Epstein replaced Carl Rosner, who announced that he would retire from the company at the end of fiscal 1999. Epstein joined Intermagnetics in 1997, and has served as president and chief operating officer. He will retain his duties as president in his new post, and Rosner will continue as chairman of Intermagnetics’ board of directors.

In other Intermagnetics news, the company last month completed the acquisition of the manufacturing rights and licenses of Belfort, France-based Alstom-Intermagnetics (AISA), formerly a joint venture that Intermagnetics held with Alstom S.A. The deal includes capital equipment, inventory, and intellectual property, and was estimated at approximately $9 million.