Contex Acquires Vidar Systems

In a move expected to result in company growth, Contex Holdings AS (Allerod, Denmark) has acquired Vidar Systems Corp. (Herndon, VA, USA), an important manufacturer of medical x-ray film digitizers.

The two companies have been competitors for many years and leaders in the development and distribution of large-format scanning equipment. With this merger, the combined 2002 revenues of the new company will exceed US$50 million. Contex says this will make it the fastest growing supplier of scanning technology. Vidar is expected to focus its efforts on medical imaging products, while Contex will concentrate on large-format imaging applications. Vidar will be a subsidiary of Contex and will continue to design, develop, and distribute its medical products under the Vidar brand name from its facility in Herndon, VA.

"The acquisition of Vidar is of great strategic importance for Contex,” said Steen Borg, president of Contex and new chairman of Vidar. Contex Holdings is owned by EQT, a group of Scandinavian private equity funds focused on acquiring emerging companies that exhibit strong growth potential.




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