PE Deals

O2-backed Modular Devices invests in Interim Diagnostic Imaging

Indianapolis-based Modular Devices is a provider of mobile and modular medical imaging equipment labs and cleanroom solutions.

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  • Modular Devices was founded in 1987
  • O2 Investment Partners targets lower middle market B2B services, technology, and select industrial companies
  • O2 is based in Bloomfield Hills, Michigan

Modular Devices, a portfolio company of O2 Investment Partners, has invested in Interim Diagnostic Imaging, a Plymouth, Minnesota-based provider of mobile CT and MRI medical imaging labs in the U.S. and Canada. No financial terms were disclosed.

Indianapolis-based Modular Devices is a provider of mobile and modular medical imaging equipment labs and cleanroom solutions.

On the transaction, Pat Corden of O2 Investment Partners said in a statement, “We are excited to bring Interim Diagnostic Imaging and Modular Devices together. IDI’s reputation and performance in the mobile CT and MRI market is highly complementary to our growing platform. Interim Diagnostic Imaging joining the platform marks the second investment for Modular Devices within a 12-month period. We look forward to working together towards an exciting future.”

Modular Devices was founded in 1987.

O2 Investment Partners targets lower middle market B2B services, technology, and select industrial companies. Founded in 2010, the firm is based in Bloomfield Hills, Michigan.