Private equity firm Resilience Capital Partners recently announced that one of its funds has acquired three medical device service and manufacturing units, allowing the firm to establish a presence in the healthcare industry. The financial details of the deals were not disclosed.
The firm acquired the Multi Vendor Service (MVS) unit of Bayer’s radiology business, Wetsco, and MD MedTech (MDMT). The three companies are set to combine to operate under a new name: Innovatus Imaging Corp.
Resilience Capital Partners has also signed an agreement to acquire the European MVS operations in Maastricht, the Netherlands. The deal is expected to be completed by March 31, 2018. In the meantime, Innovatus Imaging will serve European customers through an agreement with Bayer.
“The creation of Innovatus Imaging through the acquisitions of MVS, Wetsco and MDMT gives us the scale and synergies to succeed in a market that is projected to grow by double-digit figures over the next five years as healthcare providers are asked to do more with less and extend the life of costly medical devices through repair and servicing,” Steven H. Rosen, co-CEO of Resilience Capital Partners, said.
Innovatus Imaging plans to recruit its leaders from senior positions at the companies it has acquired.