Modular Devices, a leading provider of mobile medical imaging equipment and cleanroom solutions, has announced a strategic investment in Transcend Imaging, a prominent provider of mobile MR imaging labs. This partnership aims to enhance Modular Devices’ position in the mobile MRI market and expand its product offerings.
Founded in 2023, Transcend Imaging has quickly gained traction due to strong vendor and customer relationships. Both companies anticipate continued growth in the interim lab market.
Modular Devices specializes in mobile imaging solutions, including MRI, CT, and cleanroom facilities, serving hospitals and healthcare providers across the U.S. and Canada. O2 Investment Partners, the parent company of Modular Devices, is a private equity firm focused on North American businesses.
KEY QUOTES:
“The investment from Modular Devices came at an opportune time as Transcend is pursuing substantial growth. I look forward to working with the Modular team to realize our combined objectives.”
Steve Richter, Managing Partner of Transcend Imaging
“The partnership with Transcend Imaging deepens Modular’s exposure in the mobile MR space and diversifies our product offering. We are excited to better serve our customers and execute our expansion strategy.”
Mark Koers, CEO of Modular Devices
“We are excited to make this strategic investment in Transcend as we forecast continued growth in the interim lab market. Transcend’s best-in-class fleet and customer relationships have propelled the business into becoming a dominant player in the industry. We look forward to supporting the continued growth of Transcend.”
Sam Wegenke of O2 Investment Partners
