DirectMed Parts & Service Expands Internationally; Announces Partnership with LBN Medical

NEW YORK--(BUSINESS WIRE)--DirectMed Parts & Service (“DirectMed”), a portfolio company of NMS Capital (“NMS”), announced today that it has acquired LBN Medical (“LBN” or the “Company”). Terms of the transaction were not disclosed.

Headquartered in Aalborg, Denmark, LBN is a leading reseller of aftermarket diagnostic imaging equipment to customers around the world. LBN sells complete systems and parts covering more than fifteen brands, including major OEMs such as Canon, GE, Hologic, Siemens, and Philips. The Company was founded in 2003 by CEO Lars Braun Nielsen and has since grown to more than 50 employees at facilities in Denmark and Egypt.

Lars Braun Nielsen, CEO and Founder of LBN, stated, “Brad and the DirectMed team have outlined their mission to extend the life of medical imaging equipment to improve access, reduce waste, and lower healthcare costs. We are thrilled to be a part of this endeavor, and to work with the DirectMed team and NMS to accelerate our growth. The partnership with DirectMed provides LBN with tremendous resources to provide an even higher level of service and expertise to our customers, including a greater breadth and depth of parts and technical support.”

“We have known LBN Medical for several years and believe they are the logical company to help DirectMed expand our parts business outside of North America. Their distribution team – which speaks 21 different languages, with sales history in over 60 countries, and employs experts across seven modalities – is the perfect complement to our business,” said Brad de Koning, DirectMed’s President & CEO. “Acquiring LBN Medical begins an exciting new chapter for DirectMed, with the addition of system sales to our customer base, and for LBN Medical, who will now stock and have access to over 10,000 unique part numbers to support theirs.”

David Peterson, Managing Director at NMS, stated, “Since we partnered with the DirectMed team in June 2021, one of our primary areas of focus has been expanding our geographic coverage. Providers around the world are looking for cost-effective solutions to acquire and maintain equipment as they continue to grow their practice. The combination of DirectMed and LBN supports that exact need in the marketplace. We are very excited to be partnering with the LBN team for the next phase of our business and look forward to leveraging DirectMed’s experience in parts and related repairs to accelerate our growth internationally.”

Accura and Greenberg Traurig provided legal advice to DirectMed.

About LBN:
LBN Medical is a leading reseller of aftermarket medical imaging equipment to customers around the world. LBN sells equipment and parts covering more than fifteen brands, including major OEMs such as Canon, GE, Siemens, and Philips. The Company was founded in 2003 by CEO Lars Braun Nielsen, and has since grown to an organization of more than 50 associates at facilities in Denmark and Egypt. For additional information on LBN, please visit the firm's website at LBNmedical.com.

About DirectMed:
DirectMed Parts & Service is the largest independent diagnostic imaging parts supplier specializing in MRI and CT machines with over 60,000 parts in stock. An ISO 13485 certified company, DirectMed repairs, supports and sells GE, Siemens, and Philips parts to healthcare networks, imaging centers and independent service organizations ("ISOs") around the world. For additional information on DirectMed, please visit the firm's website at directmedparts.com.

About NMS Capital:
NMS Capital is a New York headquartered private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. The firm was formed through the spin-out of a group of portfolio companies from Goldman Sachs’ Merchant Banking Division. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends with particular concentration on companies in Business Services and Healthcare Services. For additional information on NMS, please visit the firm's website at nms-capital.com.