Magnetica Limited appoints US distributor

Avingtrans plc (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, is pleased to announce that its subsidiary, Magnetica Limited, has signed a new strategic partnership with Televere Systems, LLC, a leader in radiography product distribution. This agreement appoints Televere as the official US distributor for Magnetica's products.

Commencing immediately, this partnership was officially unveiled at the RSNA (Radiological Society of North America) 2023 annual event in Chicago. It marks a significant achievement in Magnetica's expansion strategy, reinforcing its commitment to providing advanced MRI solutions to the U.S. market. Magnetica is developing state-of-the-art technology using ultra-compact superconducting magnets in an MRI technology that will operate without liquid helium. Magnetica plans to seek FDA clearance for the product by mid-2024.

RSNA proved an ideal platform for Adaptix and Magnetica to collaboratively showcase their innovations for the first time. The exhibition proved to be a notable success for both companies, as attendees witnessed an array of innovation from these emerging players in the medical imaging market. Adaptix presented its 3D x-ray Ortho system in the US after having received its FDA 510k clearance earlier in the year. The 3D imaging system, designed for point-of-care and offering low-dose 3D diagnostic imaging of extremities, garnered enthusiastic praise from potential customers and distributors alike.

Duncan Stovell, CEO of Magnetica, commented:

"We're excited about the potential our Helium-free MRI technology holds and confident that in Televere, we have chosen the perfect partner to bring it to the US market. Televere is a dynamic, innovative and customer-focused organisation with a strong track record of success. This new partnership will support both companies' growth strategies by enabling easier access to state-of-the-art MRI technology.

Randy Quaal, General Manager of Televere, commented:

"With a dynamic team of over 40 professionals, our team is well positioned to represent Magnetica's products effectively and our alliance with Magnetica is a significant step forward. The versatility of Magnetica's products aligns perfectly with our mission to meet and exceed customer expectations in the radiography field and we're looking forward to bringing this innovative new technology to our US customer base."

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