by
Barbara Kram, Editor | October 05, 2009
"Declining reimbursement rates coupled with technical advances in the medical imaging market have created the need, now more than ever, to use our current proprietary technologies, as well as new and innovative solutions developed by us, to broaden our definition of service and drive greater efficiency for our customers, with a continued focus on patient safety and clinical efficacy," added Wayne Moore, President-Advanced Development Group and Chief Strategy Officer. "I am excited to be part of a larger organization, focused exclusively on bringing the highest level of service, quality and continued innovation to the diagnostic imaging market."
Sonora Medical Systems, Barrington Medical Imaging, and Echoserve will continue to conduct business under their existing names and maintain operations at their current facilities during the integration process. It is anticipated that a new name for the combined company will be introduced later this year.
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About Medical Imaging Holdings, Inc.
Medical Imaging Holdings, Inc. is a private holding company formed by Galen Partners, a leading health care private equity firm, to execute a consolidation of high-potential, technology-enabled companies and assets in the medical imaging market. Through its initial acquisitions and subsequent investment, Medical Imaging Holdings seeks to provide comprehensive imaging solutions to its operating company customers and build the pre-eminent third party service provider for medical imaging equipment across multiple modalities and vendor platforms. The company is headquartered in Golden, Colorado.
About Galen Partners
Galen Partners is a leading health care private equity firm based in Stamford, Connecticut. The firm focuses on growth equity investments in health care technology enabled services, medical devices and specialty pharmaceutical companies. With nearly $1 billion under management raised through five funds, Galen has invested in more than 70 companies since 1990. The partnership seeks opportunities to actively participate as a lead investor in which it can provide between $10 million to $30 million of growth equity capital in health care related companies with established revenue. The firm continues a tradition of strategic collaboration and partnership with its portfolio company management teams to build health care market leaders. For more information, please visit Galen's website at www.galen.com.
About Sonora Medical Systems
