Radon Medical Imaging Announces Acquisition of Alpha Imaging

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Nov 19, 2024, 09:00 ET

Transaction grows Radon's product offerings and expands its presence into seven new states

CHARLESTON, W.Va., Nov. 19, 2024 /PRNewswire/ -- Radon Medical Imaging (Radon), a leading medical imaging equipment maintenance and repair services company, today announced it has acquired Alpha Imaging, one of the largest distributors and servicers of medical imaging equipment in the eastern region of the U.S. The transaction reinforces Radon's strategy to be an industry leader in the medical imaging market, extends the company's product offerings, enhances its imaging service capabilities, grows its workforce and expands its geographic reach into new states.

"This transaction marks a natural progression for Radon as we continue to accelerate our growth and expand our capabilities," said Anthony Border, CEO at Radon. "Alpha Imaging has built a stellar reputation over the last 30+ years, and we're thrilled to welcome their impressive team to the Radon family. I have known Michael Perrico, Alpha Imaging's CEO for years, and we believe joining forces will ultimately benefit both customer bases through increased access, service and talent."

Since 1986, Alpha Imaging has been providing medical imaging equipment and support services to large luminary facilities and teaching institutions as well as community-based hospitals, ambulatory imaging centers and private practices. Its portfolio includes cardiovascular and interventional imaging labs, digital radiographic and fluoroscopic systems. The company also has several vendor partners including Shimadzu Medical Systems, Konica Minolta Healthcare and Del Medical and is also the national distributor for the Intelli-C, a multi-purpose radiographic/fluoroscopic system.

Michael Perrico will join the Radon leadership team of the combined entities. He will continue to be a pivotal member of the team contributing to the overall strategy and direction of the company.

"My father started Alpha in 1986, and since then, we have been through many iterations, but one thing remains constant, we are client centric. We're thrilled to join a company that shares our passion for the industry and our commitment to customer service and our employees," Perrico said. "This partnership provides us with additional resources, including more product offerings for our customers and enriched career paths for our team. We look forward to many years of continued success together."

Alpha Imaging's territory includes Ohio, Michigan, Indiana, Kentucky, West Virginia, Pennsylvania, Maryland, Connecticut, Massachusetts, Rhode Island, Maine, New Hampshire and Vermont, with a strong service team that includes over 25 field service engineers.

Radon sells and services medical imaging equipment across 10 different modalities including CT, MRI and Vascular X-Ray, among others. It serves academic medical centers, large IDN health systems and other healthcare providers. Over the last two years, Radon has grown its presence from five to 24 states, and it now boasts more than 200 team members, including over 120 highly trained field service technicians. Radon's distinguished track record and highly skilled technicians led to the company being selected as one of only two authorized agents in the U.S. for new United Imaging MRI, PET/CT and X-Ray equipment. Radon continues to seek opportunities to partner with other like-minded service providers in the imaging equipment space.

The Alpha Imaging transaction closed in October 2024 and is Radon's third add-on acquisition since partnering with 5^th Century Partners two years ago. In November 2022, Radon acquired Premier Imaging Medical Systems, and in June 2023 the company acquired Tristate Biomedical Solutions. In September 2022, 5th Century Partners partnered with Radon to recapitalize the company. DLA Piper served as legal counsel to Radon. Avante Capital Partners provided debt financing to support the Alpha transaction. Terms of the transaction were not disclosed.

About Radon Medical Imaging
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.

About Alpha Imaging
Alpha Imaging, headquartered in Willoughby, Ohio, is a leading provider of healthcare solutions focused on medical imaging technologies and services. Alpha Imaging's equipment offerings include CT, cardiovascular and interventional vascular labs, digital radiographic and fluoroscopic equipment as well as dedicated image guided endoscopic imaging systems. Since 1986, the company has provided medical imaging equipment and support services to large luminary facilities and teaching institutions as well as community-based hospitals, ambulatory imaging centers and private practices. Alpha also offers nationwide dealership opportunities to medical imaging resellers for the multipurpose Intelli-C.

About 5th Century Partners
5th Century Partners is a purpose-driven private investment firm that invests in middle-market companies within healthcare and business services that have outsized growth potential. The firm provides capital, operating expertise and strategic relationships that lead to sustainable growth, which in turn allows partner companies to realize their full potential and deliver positive outcomes to their stakeholders. Learn more at www.5cpartners.com.

SOURCE Radon Medical Imaging