Probo Medical Signs Definitive Purchase Agreement to Acquire Alpha Source Group

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Dec 28, 2023, 09:00 ET

TAMPA, Fla., Dec. 28, 2023 /PRNewswire/ -- Probo Medical ("Probo"), a leading global provider of medical imaging equipment, parts, repair and service, has signed a definitive purchase agreement to acquire Alpha Source Group ("Alpha Source") in a deal that significantly expands Probo's diagnostic imaging solutions platform. Alpha Source Group is comprised of its subsidiaries, Alpha Source Biomed Solutions, BC Technical Imaging Solutions and Medical Optics Surgical Solutions.

Alpha Source, founded in 1986, delivers technical field service, depot repair, equipment refurbishment and resale, and parts distribution solutions to the North American healthcare market. Their expertise and capabilities are utilized across a broad customer base that includes OEMs, ISOs, asset managers, hospitals, distributors and resellers. With more than 100 field-based engineers, Alpha Source is one of the largest field service organizations for diagnostic imaging equipment in North America. The field service organization is supported by in-house expertise at four Centers of Excellence in Salt Lake City, UT, Jeffersonville, IN, Tamarac, FL and Milwaukee, WI. These centers specialize in repair, refurbishment, parts harvesting and distribution of multi-modality medical equipment, including nuclear medicine, PET, CT, MRI, PET/CT, ultrasound, bone mineral density, medical batteries, and biomedical equipment.

"This acquisition is transformational in nature for both Probo Medical and Alpha Source," said Michael Asmer, CEO of Probo. "Probo has built a scalable platform in the ultrasound market in North America, capable of supporting customers with ultrasound system sales, repairs, service, applications training, and spare parts at a quality and value level that leads the market. Alpha Source's capabilities, team and relationships provide us with the ability to extend that platform wider and deeper into new imaging modalities like nuclear medicine, CT and PET/CT. For Alpha Source, there are multiple commercial and growth opportunities that will come as being a part of the Probo platform. Probo is a global leader in system procurement across the aforementioned modalities. Integrating that proficiency with Alpha Source's technical capabilities will quickly allow us to expand parts harvest and distribution, scale system refurbishment and resale, and optimize our ability to deliver best-in-class field service with a global team of over 350 field service engineers. Combining all of that with Probo's capabilities around the logistics, storage and installation of diagnostic imaging systems makes this a combination that we are tremendously excited about."

Probo Medical is backed by Avista Capital Partners, a leading private equity firm focused exclusively on healthcare with over $8 billion invested in more than 45 growth-oriented healthcare businesses globally.

About Probo Medical
Probo Medical is a global diversified supplier of new and refurbished diagnostic imaging equipment sales, service, rental, repair and installation of a vast array of imaging equipment, including ultrasound, c-arm, x-ray, mammography, fluoroscopy, MRI and CT. For more information about Probo Medical, visit http://www.probomedical.com.

About Alpha Source Group
Alpha Source, founded in 1986 and headquartered in Milwaukee, WI, delivers technical field service, depot repair, equipment refurbishment and resale, and parts distribution solutions to the North American healthcare market. For more information on Alpha Source Group and its subsidiaries, visit http://www.alphasourcegroup.com, http://www.alphasource.com, http://www.medicaloptics.com, and http://www.bctechnical.com.

Contact: Adam Walter, Probo Medical
Email: [email protected]

SOURCE Probo Medical