Medtech management and service provider Agiliti announced today that it has acquired Northfield Medical, a surgical equipment repair company, in a stock transaction valued at $475 million.

Northfield Medical provides service and repair of medical devices, specializing in the repair of endoscopes, surgical instruments and other operating room equipment. The company is headquartered near Detroit and operates a nationwide network of local, in-market repair centers and five ISO 13485:2016 centers of excellence.

Founded in 1939, Minneapolis-based Agiliti serves more than 7,000 national, regional and local acute care and alternate site providers across the U.S.