NDS Surgical Adds On

NDS Surgical Imaging, a San Jose, Calif.-based portfolio company of Riverside Partners, has acquired the medical display division (Dome Imaging) of Planar Systems (Nasdaq: PLNR). No financial terms were disclosed.

PRESS RELEASE

Riverside Partners, based in Boston, MA, is pleased to announce the acquisition and integration of Dome Imaging (“Dome”), the Medical Display Division of Planar Systems (NASDAQ: PLNR), into its existing portfolio company, NDS Surgical Imaging (“NDSsi”).

NDSsi, based in San Jose, CA, is a market leading designer and manufacturer of medical visualization and informatics solutions for today's operative and interventional suites.   The Company collaborates with the world's leading medical technology manufacturers, hospital centers, and clinicians to deliver high quality, forward-thinking medical imaging technologies.  

Dome, with operations in the US, Europe and Asia, has a broad product line consisting of displays used for radiology and cardiology applications as well as orthopedic imaging and patient monitoring.  The Company was a pioneer in diagnostic displays and currently enjoys a strong market position and brand identity with radiologists worldwide.

“We are extremely excited about the strategic fit between NDSsi and Planar's Medical Business Unit, Dome Imaging.  We have been aware of Dome's stellar reputation for high quality medical displays and related technologies for a number of years.  The management teams of both companies are highly compatible and the combined companies are poised for significant continued growth,” said David Belluck, a General Partner at Riverside Partners and Chairman of the Board at NDSsi.

“Riverside has been instrumental in the acquisition of Dome Imaging and helped create the market leader in the United States medical visualization market.  The combined engineering and product development capabilities will allow us to expand the range of surgical and diagnostic solutions provided to our customers,” said John Murphy, President and CEO of NDSsi.

About Riverside Partners 

Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund III, L.P.  The fund focuses on growth-oriented companies in the healthcare and technology industries.  Riverside is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside have managed more than $500 million in investments in over 50 companies.  We are currently focused on companies with revenues between $20 – $200 million and with $5 – $25 million of EBITDA.

About NDS Surgical Imaging

NDS Surgical Imaging (NDSsi) is a leading designer and manufacturer of medical visualization equipment for applications including surgical, radiology, and patient monitoring.  Based in San Jose, CA, NDSsi is the market share leader in displays for minimally invasive surgical equipment.    

About Planar Systems 

Planar Systems, Inc (NASDAQ:PLNR) is a global leader of specialty display technology providing hardware and software solutions for the world's most demanding environments. Hospitals, space and military programs, utility and transportation hubs, shopping centers, banks, government agencies, businesses, and home theater enthusiasts all depend on Planar to provide superior performance when image experience is of the highest importance. Founded in 1983, Planar is headquartered in Oregon, USA, with offices, manufacturing partners, and customers worldwide.