Funding Obtained by Transcend Imaging Through Modular Gadgets Investment
Modular Devices Boosts Presence in Mobile MRI Market with Strategic Investment in Transcend Imaging
Modular Devices, a leading provider of mobile medical imaging equipment and cleanroom solutions, has made a strategic growth investment in Transcend Imaging, a prominent player in the mobile MR imaging market. This move deepens Modular Devices' presence and product offering in the mobile medical imaging space, particularly mobile MRI, through Transcend's best-in-class fleet and strong customer relationships.
The partnership aims to capitalize on forecasted growth in the interim lab market and to execute an expansion strategy to better serve customers. Transcend Imaging, founded in 2023, has gained traction due to its strong vendor and customer relationships, earning it a dominant position in the mobile MR imaging market.
Steve Richter, Managing Partner of Transcend Imaging, expressed excitement about the partnership, while Mark Koers, CEO of Modular Devices, is enthusiastic about the strategic investment. Both companies see the partnership as a way to diversify product lines and strengthen market position in mobile MRI.
Sam Wegenke of O2 Investment Partners, the parent company of Modular Devices, also expressed optimism about the investment. O2 Investment Partners is a private equity firm focused on North American businesses. The investment comes as Transcend Imaging pursues substantial growth opportunities.
The CEO of Transcend Imaging looks forward to working with the Modular Devices team to realize their combined objectives. Modular Devices serves hospitals and healthcare providers across the U.S. and Canada, while Transcend Imaging's fleet is considered best-in-class in the industry.
The strategic investment reflects confidence in continued growth opportunities in the mobile MRI and modular medical imaging markets, positioning both companies for enhanced competitive advantage. The partnership between Modular Devices and Transcend Imaging is expected to deepen Modular's exposure in the mobile MR space and enhance Modular Devices' position in the mobile MRI market and expand its product offerings.
[1] Source: Company Press Release, [Date]
Private equity firm O2 Investment Partners, parent company of Modular Devices, envisions diversifying product lines and strengthening market position in mobile MRI through the strategic investment in Transcend Imaging. This health-and-wellness focused venture brings together two industry leaders, with Modular Devices' expansion into science-driven mobile MR imaging technologies complementing Transcend Imaging's best-in-class fleet.
