Private equity firm acquires radiology parts and services provider DirectMed Imaging
Private equity firm NMS Capital is selling off radiology parts and services provider DirectMed Imaging three years after acquiring the Poway, California, company.
Frazier Healthcare Partners is acquiring DirectMed for an undisclosed amount, leaders said Tuesday. The Seattle-based private equity and VC firm plans to leverage its “growth-oriented investment experience and healthcare industry expertise” to build on the imaging company’s success.
Founded in 2012, DirectMed is a “leading” solutions provider in the aftermarket parts and repairs space. The company seeks to aid radiology providers by extending the life of imaging equipment, thereby reducing both waste and healthcare costs.
“Frazier is an ideal partner for DirectMed, and we are fortunate to be working with a firm that has 30 years of experience building companies,” DirectMed CEO Brad de Koning said in a statement. “We looked for a partner with deep healthcare experience and a proven ability to bring resources that will allow us to accelerate our growth initiatives and better serve our customers.”
DirectMed will continue investing in its people and capabilities “organically and through acquisition,” as it seeks to expand its expertise in different modalities. The company has acquired several competitors while under the ownership of NMS Capital, including Technical Prospects, Titanium Medical Imaging, ScanMed and LBN Medical. DirectMed has over 100,000 parts in stock, repairing devices from GE HealthCare, Siemens Healthineers, Philips and Canon/Toshiba.
Frazier Healthcare Partners has been in business since 1991, raising over $8 billion and investing in 200-plus companies.
“We look forward to supporting the DirectMed team’s vision with incremental capital and experienced resources, including several members of our Center of Excellence team, to accelerate growth and further solidify its leadership position in the market,” Kent Berkley, MBA, a partner at Frazier, said in the announcement.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.