ANN ARBOR, Mich., April 15, 2005 (PRIMEZONE) -- Molecular Imaging Products Company (MIP) and Summit Medical Equipment Company today announced they have merged operations. MIP based in Ann Arbor, Michigan, is a specialty manufacturer and distributor of molecular imaging and related biochemical products to assist life science researchers in the rapidly expanding molecular imaging markets. Summit is a manufacturer and distributor of premier new inhalant anesthesia systems and accessories for research and private practice veterinarians, and based out of Bend, Oregon.
"The Company will be headquartered in Ann Arbor, Michigan and retain the name Molecular Imaging Products Company. The Bend, OR location will remain open and operate as a division of MIP under the name Summit Anesthesia Solutions," said Dr. Prasad Sunkara, President of MIP. He continued, "We are excited about the combination of the two companies. MIP began by leveraging our knowledge and expertise in the field of molecular imaging. With the addition of Summit's product lines and vast experience and knowledge in the anesthesia market, it will continue to strengthen our position of offering a wide array of high-quality products."
James Houts, founder of Summit Medical Equipment, will remain with the new company as Executive Director of Sales and Training for Summit Anesthesia Solutions. "This is a great opportunity to strengthen our businesses and provide our customers with an expanded product line to service their needs," Mr. Houts stated. "MIP's marquee product D-Luciferin and other imaging reagents along with Summit's anesthesia devices are key elements in the work of life science researchers and will allow us to do this," Mr. Houts continued.
Dennis Corey and Greg Miller will co-manage the operations. Mr. Corey will focus on refinement of the anesthesia product line and development of new products specifically for the molecular imaging industry. Mr. Corey said, "We have developed strategic relationships with imaging system manufacturers to incorporate our inhalant anesthesia systems with their various imaging modalities. We will continue to capitalize on those relationships."
Mr. Miller will continue his role of leading the business development of the Company. "This will include MIP leveraging Summit's extensive western U,S. presence and reputation by continuing the expansion of the anesthesia line into the Midwest and the East coast initially through manufacturing representatives and distributors," said Mr. Miller.
MIP has full e-commerce capabilities for all its products via a secure and user-friendly website found at www.MIPcompany.com. Summit's website will be expanded to offer e-commerce capabilities but information on the products can still be found at their website, www.summitmedicalequipment.com.