Alpha Source Inc, which is backed by Baird Capital, has acquired Utah-based BC Technical, a medical imaging services provider. No financial terms were disclosed.
MILWAUKEE, Nov. 21, 2017 /PRNewswire/ — Alpha Source, Inc., announced today that the company has completed the acquisition of BC Technical, Inc. The acquisition doubles the size of Alpha Source and creates one of the largest independent full service, imaging services and equipment repair solutions companies in the United States.
With this acquisition, BC Technical joins the Alpha Source family of companies bringing together a combined breadth, depth and experience to service an even broader continuum of health care providers’ service and repair needs for medical device, diagnostic and imaging equipment. Earlier this year, Alpha Source also purchased Medical Optics, an endoscopy services company providing repair for scopes, cameras and surgical tools. The BC Technical deal will broaden imaging service offerings across the portfolio of companies, expanding the Alpha Source ultrasound and bone densitometry equipment service to now include maintenance, repair and refurbished equipment for CT, MRI and molecular imaging modalities. The broad scope of repair solutions, national scale and technical expertise across the three companies will allow its teams to quickly and effectively service health care providers around the country.
The imaging service provider market is poised for substantial growth as quality and value based repair and replacement options continue to be sought out by health care providers looking for ways to better manage costs.
Says Rick Lytle, Alpha Source CEO, “With today’s announcement, Alpha Source, and its companies, expand and broaden their role as a scaled supplier of imaging services. We are excited to collaborate with BC Technical to offer a wider array of solutions and further help health care providers find cost effective solutions to extend the life of their diagnostic imaging equipment.”
Founded in 1986, Alpha Source has its roots as an OEM parts distributor, medical device battery manufacturer and medical equipment service provider. In March 2015 Baird Capital acquired Alpha Source with the intention of building a diverse medical device service, repair and parts distribution business. Since the Baird deal, Alpha Source has made four additional strategic acquisitions. The BC Technical deal is the fifth acquisition in less than three years for Alpha Source.
The addition of BC Technical to the portfolio of companies brings the total number of employees to over 350, with field engineers located in major markets around the country. Alpha Source headquarters will remain in Milwaukee, Wis. with additional BC Technical and Medical Optics locations in Chicago, Ill., Fort Lauderdale, Fla., Louisville, Ky. and Salt Lake City, Utah.
Says Lytle, “The talent and expertise of our employees will allow us to grow and provide our customers with unparalleled customer care that combines exceptional service, fast response times and value.”
About Alpha Source
Alpha Source provides solutions to extend the life of medical equipment for health care customers and their equipment repair providers. A unique blend of OEM quality and Independent Service Provider flexibility, Alpha Source delivers four distinct, ISO certified and FDA registered offerings: a nationally scaled imaging service division, depot repair operations, manufacturing of OEM quality medical battery packs, and distribution and logistics of over 60,000 SKUs of biomed parts, supplies and accessories. Alpha Source also acquired Medical Optics, a scope repair company located in south Florida, in early 2017. The company is headquartered in Milwaukee, Wis. and owned by private equity sponsor, Baird Capital. For a complete company description, visit alphasource.com or call 800-654-9845.
About BC Technical
BC Technical was founded in 1995. Its comprehensive expertise in all major OEM medical imaging systems includes the latest PET, PET/CT, SPECT, SPECT/CT, CT and MR technologies. Offering the same level of resources, expertise and quality expected from large OEMs, with the added flexibility and value of smaller independent service organizations, they are in a category by themselves. BC Technical provides nationwide on-site service in all 50 states and personal technical/clinical support—all with uncompromised reliability, quality and value. For more information, visit bctechnical.com.
About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 300 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co.