Grovecourt Capital Partners, a private equity firm based in West Palm Beach, Florida, announced the acquisition of IMRIS Imaging, the global leader in intraoperative MRI solutions. The financial terms of the deal were not disclosed.
Launched in 2005 and headquartered in Chaska, MN, IMRIS is the leading provider of advanced neurosurgery operating theaters. IMRIS designs, manufactures and services its proprietary intraoperative MRI suites utilized by scores of hospitals and cancer centers worldwide.
IMRIS offers the only movable MRI that operates on a ceiling mounted rail system, seamlessly gliding between a diagnostic room and operating rooms, bringing the MRI machine directly to the patient. And the company’s intraoperative MRI solutions enable patients to remain in a sterile surgical position for intraoperative imaging during neurosurgery and other growing use cases. IMRIS’ technology enhances surgical precision, reduces the need for follow-up procedures, and eliminates post-surgical confirmatory MRI scans.
Holland & Knight acted as legal advisor to Grovecourt. And Ocean Avenue Capital Partners, Bell Capital Finance – a division of Bell Bank, and Farragut Capital Partners provided financing for the transaction. CMD Global Partners acted as exclusive financial advisor to IMRIS.
KEY QUOTES:
“IMRIS stands at the forefront of intraoperative medical imaging. As seasoned investors in the medical imaging space, we are thrilled to partner with Marc Buntaine, Greg Sorensen, and the entire IMRIS team to drive innovation, expand the company’s products and services and enhance patient care.”
- Matt Bergin, Managing Partner at Grovecourt
“Our partnership with Grovecourt marks a significant milestone for IMRIS. As the longstanding leader of intraoperative MRI systems for neurosurgery, we are eager to expand the boundaries of intraoperative MRI imaging into emerging applications, such as laser ablation and high intensity focused ultrasound procedures.”
- Marc Buntaine, CEO of IMRIS
“This partnership with Grovecourt will enable us to enter a new phase of growth and accelerate IMRIS’ mission to improve patient care through innovative intraoperative technologies. We are so excited for this partnership and the opportunities ahead.”
- Gregory Sorensen, IMRIS’s Executive Chairman
