A time-of-flight (TOF)-PET/MR research system installed at Stanford will be used to test the hypotheses that (a) it is possible to acquire simultaneous TOF-PET and 3T MR data while achieving uncompromised performance in both modalities and (b) simultaneous TOF-PET/MR is a tool for multi-parameter characterization of disease. In this paper we will describe the design as well as performance measurements both for the standalone PET ring, and with the two systems integrated. We will also show a selection of clinical images to compare the performance of the integrated TOF-PET/MR system with that of a state-of-the-art PET/CT system.