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Another acquisition for Probo Medical: Creative Foam's MR coil repair business

by Gus Iversen, Editor in Chief | May 09, 2023
Business Affairs MRI Parts And Service
In the latest in a string of acquisitions, Probo Medical has purchased the MR coil repair operation from Creative Foam, a Michigan-based company specializing in the design, engineering, and manufacturing of a range of solutions in the transportation and healthcare markets.

The acquisition allows Probo Medical to offer a wider array of complex MR coil repairs in-house to complement its repair capabilities in other diagnostic imaging modalities. Additionally, Probo has entered into a long-term partnership with Creative Foam for re-foaming of MR coils, which Creative Foam will continue to provide to its customers.

Less than two weeks ago, Probo Medical announced it had acquired Ultra Select Medical, a service provider based in South Carolina that distributes, maintains, repairs, and provides training for ultrasound. In the last year-and-a-half, the company's purchases have included Mi Healthcare in the U.K., Canute Medical in Canada, and Remetronix in North America.
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"Creative Foam has long been an industry leader in MR system coil repair," said Michael Asmer, CEO of Probo Medical. "The synergies this acquisition provides greatly enhance Probo's ability to serve our growing diagnostic imaging repair segment. Adding this level of expertise to our existing, world-class ultrasound sales, service and repair capabilities fits squarely within the value proposition we provide to our customers needing to buy, service and repair their equipment."

Probo Medical plans to relocate all MR coil repair operations to its Tampa, Florida based headquarters. Creative Foam will maintain its name and facility in Bremen, Indiana, where they will continue to provide solutions for the transportation and healthcare industries.

New-York-based Avista Capital Partners announced a deal in February 2022 to take a majority stake in Probo Medical from Varsity Healthcare Partners. No financial details or deal terms were disclosed, but sources advised Axios the purchase could be in the $450 million range.

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