LEHIGH VALLEY, Pa.,
March 23, 2011 /PRNewswire/ -- Air
Products (NYSE: APD) announced today the signing of a long-term
contract with Genesis Medical Imaging, Inc., one of the United States' largest independent MRI
(magnetic resonance imaging) service providers based in
Huntley, Illinois. Under the
agreement, Air Products will supply its KeepCOLD® Cryogenic
Services product offering for approximately 150 magnets currently
installed by Genesis for MRI scans at medical service providers
across the country.
"The contract with Genesis is the largest we have signed in the
independent sector to date. We believe this market will
present further opportunities and we will continue to grow that end
of the business with our established offerings," said Shawn Smith, product manager - North America
Helium at Air Products. "In this growing market we are able to use
the wealth of experience we have gained working closely with
original equipment manufacturers (OEMs), be able to continue to
provide that experience to our OEM customers, and now transition
that knowledge to our work with Genesis and other independents as
well."
"Air Products' enviable quality and OEM experience make a superb
fit with Genesis' unique position to provide customers the
excellence and security of an OEM relationship with the pricing and
responsiveness of independent service," said Robert Dakessian, Genesis president and CEO.
"Air Products' reliability can mean more uptime, another step
in Genesis' promise of continuous improvement in quality and value
from a service partner you can trust."
Smith said he believed Air Products' 20 years of MRI servicing
experience, as well as its product offerings' flexibility to meet
the specific needs of the customer, were essential to gaining the
Genesis contract. "We have been and are the leading
third-party service provider in this industry," Smith said. "This
contract enables Air Products to continue to expand our customer
base in this market and to increase our present work with the
independent MRI segment of the medical services industry."
Air Products, the largest international supplier of helium,
assists the MRI industry with vital service by keeping the
superconducting magnets at cryogenic temperatures to provide the
highest quality medical imaging. An MRI system with a
superconducting magnet consists of many wound coils of wire through
which a current of electricity is passed to create a magnetic
field. This requires a significant amount of energy and is
achieved through superconductivity, or reducing the resistance in
the wires to almost absolute zero by continually bathing the wire
coils in liquid helium at approximately -452 degrees
Fahrenheit.
There are more than 12,000 MRI magnets using Air Products'
helium and cryogenic gases to keep them cold and superconducting
for the medical services industry. This current total
includes more than half of the existing magnets in U.S. and
internationally. At more than 7,500 KeepCOLD sites Air
Products performs 13,000 helium fills annually, which has led to
long-standing relationships with the leading MRI original equipment
manufacturers. For more information on Air Products' KeepCOLD
product services go to:
www.airproducts.com/helium/applications/mri.htm.
About Air Products
Air Products (NYSE: APD) serves customers in industrial, energy,
technology and healthcare markets worldwide with a unique portfolio
of atmospheric gases, process and specialty gases, performance
materials, and equipment and services. Founded in 1940,
Air Products has built leading positions in key growth markets
such as semiconductor materials, refinery hydrogen, home healthcare
services, natural gas liquefaction, and advanced coatings and
adhesives. The company is recognized for its innovative
culture, operational excellence and commitment to safety and the
environment. In fiscal 2010, Air Products had revenues of
$9 billion, operations in over 40
countries, and 18,300 employees around the globe. For more
information, visit www.airproducts.com.
About Genesis
Genesis Medical Imaging is the largest independent service
organization to offer a total solution for CT and MRI needs,
including nationwide service contracts, mobiles, refurbished CT
& MRI equipment, cryorefrigeration and magnet services.
Visit www.genesismedicalimaging.com.
***NOTE: This release may contain forward-looking statements
within the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on management's reasonable expectations and assumptions as of
the date of this release regarding important risk factors. Actual
performance and financial results may differ materially from
projections and estimates expressed in the forward-looking
statements because of many factors not anticipated by management,
including risk factors described in the Company's Form 10K for its
fiscal year ended September 30,
2010.
SOURCE Air Products