A timing circuit for implementation in a medical imaging system such as a PET scanner, and a method of ascribing times to events in such systems, is disclosed. In one embodiment, the timing circuit includes an n-phase clock having n frequencies of operation, wherein the clock is selectable to provide n-signals that each vary at n frequencies, an n-phase counter including n counter elements coupled to the clock, an n-phase status detection circuit including n status circuits coupled to the n-phase clock, and an n-phase output circuit including n-registers coupled to the n-phase clock and respectively coupled to the n-phase counter and to n-phase status detection circuit, wherein n-registers respectively receive the n-clock signals, the n-count signals, and the n-status signals, respectively, and in response respectively provide n-output signals that collectively form an output signal indicative of a time at which the event detection signal experienced the first status change.