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For DOTmed 100 Medical Imaging Resources Inc., Hard Times Mean Profits

by Lynn Shapiro, Writer | December 17, 2008
Medical Imaging Resources, Inc.

While the economy is admittedly "in the tank" as Jeff Rogers, Medical Imaging Resources Director of Sales puts it, the DOTmed 100 company in Ann Arbor, MI is enjoying double-digit growth.

What's the secret? Rogers says that the company's Interim Mobile Rental division, which owns a fleet of about 35 mobile systems representing all modalities--MRIs, CTs, Cardiac Cath/Angio and Nuclear Medicine systems--and its Imaging System Sales Group, work together to bring in hospital sales.

Medical Imaging Systems Resources (MIR) also rents and sells equipment to imaging centers, research facilities, and other emerging markets.

He described a common scenario: "Say a hospital needs to build a whole new imaging suite, but can't wait for the build-out to occur. They will rent mobile systems from us," Rogers says.

In addition to the systems themselves, Rogers and his team offer customers what he says is "a variety of very attractive solutions for maintaining their existing revenue streams or getting a jump start on offering a new clinical service....Once their suite is finished, we can then deliver [our own systems] that can meet their clinical needs for many years to come, or they may opt to purchase a brand new system from one of the OEMs," Rogers says.

MIR's fleet of mobile units includes systems from all of the major manufacturers. In fact, in the last four months, the company has added two state-of-the-art Siemens mobile MRIs to existing inventory.

MIR's mobile rental business, founded by President John Vartanian almost 18 years ago, translates into hospital and end user system sales, Rogers says.

"If a healthcare facility has used us before for its interim mobile systems, we already have a track record with them. We do very well with clients who know us, in terms of converting rental sales into system sales and system acquisitions. And since we offer refurbished systems, we can typically save our end user clients 20 to 30 percent over what they would spend to buy new equipment," Rogers says.

The company's sales division is very active in both the wholesale and end user markets, he says. In the end user arena, Rogers provides his customers with complete turnkey imaging system solutions from site planning, installation, calibration, training, service and support.

Bad Times. Good Profits.

While OEMs have experienced a significant decrease in sales during the last two years, Rogers says the financial crisis has boosted business for MIR.