Eight big M&A stories in the parts and service industry

August 28, 2022
Parts And Service
From the August 2022 issue of HealthCare Business News magazine
Consolidation is reshaping the entire healthcare industry, but the trend is especially prominent among parts and service providers. Here we run through some of the biggest M&A stories of the past several months, that are expanding the footprint of equipment maintenance teams.

MXR Imaging Inc. acquires Mega Tech Inc.
MXR Imaging Inc. announced in June it has completed the acquisition of Mega Tech Inc.

Mega Tech, headquartered in Paterson, New Jersey, has been a leading provider of CT and MR equipment sales and maintenance service for decades.

Established in 1995 and known for their personal touch and strength of their technical background, Mega Tech has provided high-quality medical imaging services to its customers in all sectors of healthcare.

MXR Imaging executives stated that this acquisition will expand the company’s footprint in the northeast and further strengthen its service support organization.

“We are very excited about the technical imaging expertise and talented people that are becoming part of the MXR Imaging organization,” noted Bernard Amato, CFO of MXR Imaging.

MXR Imaging Inc. is the largest independent distributor of imaging sales and service in the U.S. It also offers service support, legacy equipment assistance, equipment relocation, mobile rentals, parts, training, and radiology consumable/durable goods to the healthcare market. MXR's imaging portfolio includes CT, PET/CT, MR, ultrasound, general radiology imaging equipment, and PACS.

Peak Rock acquires 626 Holdings
An affiliate of private investment firm Peak Rock Capital announced in June it had acquired third-party imaging services company 626 Holdings.

Founded in Florida in 2014, 626 is ISO 13485:2016 certified and services all types of scanners developed by various manufacturers for outpatient imaging centers, hospitals and other independent service organizations.

Its sale will further Peak Rock’s stake in the healthcare space, while allowing 626 to build upon its sales and technology initiatives, expand its footprint and continue to make strategic acquisitions to boost growth, said Spencer Moore, managing director of Peak Rock, in a statement. "626 represents a tremendous opportunity to partner with the founders and management of a leading services and maintenance business in the imaging sector, helping to reduce healthcare costs and support high-quality patient care.”

Among 626’s past acquisitions is Walsh Imaging, which services all imaging modalities and is an OEM dealer for Konica Minolta, Del Medical and Fujifilm. It provides service and equipment to nearly 3,000 providers and was sold to 626 in 2017.

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