SpinTech Inc., an MRI technology firm, has acquired Magnetic Resonance Innovations Inc., a medical imaging research and technology developer. Both companies are based in Bingham Farms. Terms of the deal were not disclosed.
The agreement brings a team of Ph.D. and master’s-level engineers and physicists and includes MR Innovations’ 10 patents, more than 300 published papers, and a network of more than 50 global collaborators.
SpinTech, which does business under the name SpinTech Imaging, will rebrand to use the name SpinTech MRI.
“Our goal has always been to push the boundaries of what’s possible with MRI while delivering practical solutions for the benefit of clinicians and patients along the way,” says Ward Detwiler, CEO of the combined company. “With the acquisition of MR Innovations, we’re able to better pioneer the forefront of MRI technology while continually improving the present.”
MR will also bring its expertise in protocol development for medical imaging scans, image processing services, clinical research organization consulting, and innovation in imaging hardware and software.
The companies have worked together in the past to create technology including standardized MRI software that allows for improved efficiency and artificial intelligence-assisted detections. It allows for up to 40 percent faster MRI acquisition times for brain scans, improved visualization, and quantitative results with applications across conditions such as Parkinson’s disease, dementia, traumatic brain injury, multiple sclerosis, and stroke.
SpinTech produces quantitative brain imaging software.