Funds Gathered by Transcend Imaging Via Modular Gadgets Investments
Modular Devices Strengthens Presence in Mobile MRI Market with Strategic Investment in Transcend Imaging
Modular Devices, a leading provider of mobile imaging solutions, has made a strategic investment in Transcend Imaging, a rapidly growing mobile MR imaging company founded in 2023. This move forms part of Modular Devices' expansion strategy, aiming to deepen its exposure in the mobile MRI market and diversify its product offerings.
The partnership between Modular Devices and Transcend Imaging is expected to enhance Modular's position in mobile MR imaging by leveraging Transcend's best-in-class fleet and strong customer relationships. This collaboration is designed to better serve Modular's customers and execute an expansion strategy, particularly in the interim lab market, which is forecasted to experience continued expansion.
Key aspects of this strategy include expanding Modular Devices' mobile MRI capabilities through collaboration with Transcend Imaging, capitalising on growth opportunities in the interim mobile diagnostic lab market, and leveraging combined expertise to address customer needs with a broader and more diversified mobile imaging product portfolio.
The investment is backed by O2 Investment Partners, a private equity firm focused on North American businesses. Given the promising growth forecast in mobile medical imaging, O2 Investment Partners is supporting the continued growth of Transcend Imaging.
Steve Richter, Managing Partner of Transcend Imaging, expressed optimism about the partnership with Modular Devices, saying, "We are thrilled to be joining forces with Modular Devices. Together, we will be able to offer our customers a more comprehensive suite of mobile imaging solutions."
Mark Koers, CEO of Modular Devices, is equally excited about the strategic investment in Transcend Imaging. He stated, "We believe that this investment will enable us to broaden our offerings and strengthen our market position in the mobile MRI space."
Transcend Imaging has gained traction due to strong vendor and customer relationships, propelling the business into becoming a dominant player in the industry. With its best-in-class fleet, Transcend Imaging has been providing mobile MR imaging labs to hospitals and healthcare providers across the U.S. and Canada.
Sam Wegenke of O2 Investment Partners did not provide a direct comment in the article, but the investment in Transcend Imaging is a clear indication of the firm's confidence in the company's potential for growth.
Both companies anticipate continued growth in the interim lab market with this strategic investment. Modular Devices serves hospitals and healthcare providers across the U.S. and Canada, and with the investment in Transcend Imaging, it aims to solidify and expand its footprint in the mobile MRI space by broadening its offerings and strengthening market position.
In conclusion, the strategic investment by Modular Devices in Transcend Imaging is a significant step towards the company's growth and expansion in the mobile MRI market. This partnership is expected to bring about a more comprehensive suite of mobile imaging solutions for customers, capitalising on the growth opportunities in the interim mobile diagnostic lab market.
