626 Holdings acquires the assets of Innovatus Imaging's CR and DR business
May 29, 2020
by Gus Iversen
, Editor in Chief
ISO 13485:2016 certified third-party medical equipment service provider 626 Holdings has announced a deal to acquire the CR and DR business of Innovatus Imaging.
In a statement, 626 Holdings CEO, Philip Revien, described the acquired assets as well-aligned with the company's existing Walsh Imaging portfolio, which 626 acquired in 2017 and provides service and equipment to nearly 3,000 hospitals and medical-imaging facilities in New Jersey, New York, Connecticut and Pennsylvania.
"We are uniquely positioned to grow this business and we are eager to add a team of highly talented and soon-to-be additionally versatile engineers from Innovatus," Revien said.
With a legacy spanning over 30 years, Innovatus Imaging is an ISO-13485:2016 certified provider of repair services for medical imaging products, and will retain its core businesses in ultrasound and MR. The company is headquartered in Pittsburgh and maintains Centers of Excellence in Tulsa, Oklahoma and Denver, Colorado.
“We are confident we can leverage this business, and it provides a great platform for other ISO’s and hospitals that need this modality serviced, to look to 626/Wash/ISS for not only CR and DR service, but for all of the solutions we can provide in the space” said Michael Fischer, chief financial officer for 626 Holdings.
In late 2019, 626 Holdings announced the acquisition of Injector Support and Service LLC (ISS), a comprehensive provider of contrast injector solutions.
“While COVID-19 was a devastating event for the U.S., the world and our industry, it did provide an opportunity to appreciate and continue to grow our business," said Revien. "The work of our field service engineers (closing in on 100) during the crisis was as impressive as the loyalty our customers showed us during this period."