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Probo Medical Acquires IMAX Medical

Probo Medical, a leading global provider of medical imaging equipment, parts, repair and service, has announced the acquisition of IMAX Medical (“IMAX”). Terms of the transactions were not disclosed.

MR Conditional Electrode Line Receives FDA Clearance

Rhythmlink International, LLC has announced FDA clearance of a new product line. Sticky Pad Surface Electrodes, a line of peel and stick-on electrodes for Intraoperative Neurophysiological Monitoring (IONM) and Electroencephalography (EEG) are now FDA Cleared MR Conditional for 1.5 and 3 Tesla MRI environments.

SpinTech Acquires MR Innovations

Detroit-based MRI technology company SpinTech, Inc. has acquired medical-imaging research and technology developer Magnetic Resonance Innovations, Inc. (MR Innovations).

KA Imaging to Present Poster at ECR 2021

KA Imaging, a company that develops innovative X-ray imaging solutions, announced that a poster reporting on results from a study examining the feasibility of lateral chest dual-energy subtraction radiography using a stacked single-exposure multi-layer x-ray detector will be presented by Sebastian Maurino, a medical physicist at KA Imaging, at this year’s European Congress of Radiology (ECR).

Great Hill Partners Acquire PartsSource

PartsSource has been acquired by Great Hill Partners, a leading growth-oriented private equity firm. The acquisition will allow the company to accelerate its sales and marketing investments and further position the company to execute on its growth plan.

“PartsSource’s e-commerce technology has disrupted a workflow that has historically been offline, allowing providers to maintain their facilities efficiently and more cost effectively,” said Mark Taber, a managing partner of Great Hill. “We are delighted to partner with Phil Settimi and the entire PartsSource team to help them continue to expand their market leadership.”

Founded in 2001, PartsSource’s core electronic spend management platform automates the procurement process of medical parts and supplies from product sourcing to financial settlement, incorporating proprietary analytics to optimize compliance, efficiency, cost and quality. In addition to automating the highly complex workflow associated with procurement, the company created and maintains the industry’s only online, fully integrated parts procurement marketplace. PartsSource facilitates more than 1.5 million transactions annually by connecting thousands of suppliers and OEMs to over 3,300 hospitals worldwide.

“PartsSource has experienced rapid growth in recent years and has emerged as the leader in the medical supplies procurement space, empowering our customers to drive costs out of the health care delivery system while improving outcomes,” said PartsSource CEO Phil Settimi, M.D. “We are pleased to collaborate with Great Hill, who will offer both the experience and resources to fully maximize the value of our health care solution, while maintaining our commitment to first-class customer service, innovation and quality.”

“We believe PartsSource has tremendous growth potential as procurement teams within health care seek ways to digitize their workflows via a one-stop-shop for medical parts and supplies,” Rafael Cofiño, a partner with Great Hill Partners, added. “It has been exciting to watch them build the online category leader.”

PartsSource will join Great Hill Partners’ portfolio of health care companies including Qualifacts, RxBenefits, PlanSource, Passport Health Communications (acquired by Experian for $850 million), SterilMed (acquired by Johnson & Johnson) and bSwift (acquired by Aetna for $400 million). Additionally, Great Hill has extensive experience in e-commerce and electronic marketplaces, including companies such as Wayfair, The Shade Store, Cliq Studios and Momondo (acquired by The Priceline Group for $550 million).

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