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Radon Medical Imaging Announces Acquisition Of Tristate Biomedical Solutions

Jul 11, 2023•over 2 years ago

Acquiring Company

Radon Medical Imaging

Acquired Company

Tristate Biomedical Solutions

OnaHealth CareMedical DeviceMedicalMedical DeviceBiotechnologyHealth CareManufacturing

Description

Radon Medical Imaging (Radon), a leading medical imaging equipment maintenance and repair services company, today announced it has acquired Tristate Biomedical Solutions, LLC (TBS), a provider of medical equipment sales and services for new, used and refurbished imaging and biomedical equipment, with a specialty in C-Arms, X-Ray, as well as other imaging equipment. This acquisition reinforces Radon's strategy to be an industry leader in the medical imaging market, strengthens its business by providing access to new solutions and technology and further expands its geographic footprint to better serve its customers.

Company Information

Company

Radon Medical Imaging

Location

Ona, West Virginia, United States

About

Radon Medical Imaging is a leading independent service organization that services, assembles, repairs, sells and distributes new and refurbished medical imaging equipment including, but not limited to: MRI, PET/CT, fluoroscopy, mammography, cardiac cath lab, urology, digital DR and CR, C-arm, general radiographic (X-Ray) and select PACS systems. Radon Medical Imaging was founded in 1976 and is headquartered in Charleston, West Virginia, with additional corporate offices and 150,000+ square feet of warehouse space in Georgia, Louisiana, Ohio, South Carolina, Virginia and West Virginia. The company has more than 200 employees across 24 states and covers a service, asset management and sales region encompassing parts of the Midwest, the mid-Atlantic and southeastern regions of the U.S.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed