The private equity firm Resilience Capital Partners has announced that a fund managed by the firm has acquired three medical device service and manufacturing units. The units acquired by Resilience Capital Partners are the Multi Vendor Service (MVS) unit of Bayer’s Radiology business; Wetsco Inc.; and MD MedTech LLC (MDMT).
All three businesses – MVS, Wetsco and MDMT – are being combined and will operate under a new holding company, Innovatus Imaging Corporation.
The fund also has reached a definitive agreement to acquire the European operations of MVS, based in Maastricht, the Netherlands. This transaction is expected to close by March 31, 2018. In the interim, Innovatus Imaging will continue to serve European customers through a transitional service agreement with Bayer.
Ensuring continuity, Innovatus Imaging will draw its leaders from the senior ranks of the acquired companies.
Pittsburgh-based MVS previously was part of Bayer’s Radiology business. It is a market leader in the third-party service-repair business for radiology devices, including ultrasound probes, magnetic resonance imaging (MR) coils and computed radiography readers, dry film printers and the sale of digital radiography detectors. MVS has been a frequent customer of MDMT, purchasing its ultrasound probe replacement components.
Tulsa-based Wetsco is a leading third-party ultrasound probe repair provider that has an exclusive alliance with MVS since 2008, specializing in repair and capability development on standard and 3D/4D probes.
Based near Denver, MDMT designs and manufactures specialty medical ultrasound products for the OEM, third-party repair and research markets.
For more information, visit www.resiliencecapital.com.