Frazier Healthcare Partners Announces Acquisition of DirectMed Imaging

SEATTLE--(BUSINESS WIRE)--Frazier Healthcare Partners (“Frazier”), a Seattle-based, healthcare-focused investment firm, announced today that it has completed the acquisition of DirectMed Imaging (“DirectMed” or the “Company”), a leading provider of aftermarket parts and component repairs for diagnostic imaging equipment, from NMS Capital.

The partnership will leverage Frazier's growth-oriented investment experience and healthcare industry expertise to build upon DirectMed’s success as a leading solution provider in the aftermarket imaging parts and repairs market. DirectMed supports provider organizations by extending the life of medical imaging equipment to improve patient access, reduce waste, and lower healthcare costs. The Company will continue to invest in its people and capabilities organically and through acquisition as it expands its expertise in existing and new imaging modalities.

“Frazier is an ideal partner for DirectMed, and we are fortunate to be working with a firm that has 30 years of experience building companies,” said Brad de Koning, CEO of DirectMed. “We looked for a partner with deep healthcare experience and a proven ability to bring resources that will allow us to accelerate our growth initiatives and better serve our customers. This partnership marks the beginning of an exciting chapter for our organization.”

Tanner LoRusso, Co-Founder and V.P. of Sales, said “We are excited to partner with Frazier to build our capabilities in interventional radiology, mammography, and ultrasound modalities, reinforcing our commitment to becoming the one-stop supplier of diagnostic imaging solutions for customers around the world.”

“Brad, Tanner, and the DirectMed leadership team have built a differentiated Company in an increasingly important part of the healthcare ecosystem, and we are thrilled to have the opportunity to partner with them in the Company’s next phase of growth,” said Kent Berkley, Partner at Frazier. “We look forward to supporting the DirectMed team’s vision with incremental capital and experienced resources, including several members of our Center of Excellence team, to accelerate growth and further solidify its leadership position in the market.”

About Frazier Healthcare Partners

Founded in 1991, Frazier Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. Since its inception, Frazier has raised over $8 billion of capital for private funds and co-investment opportunities and has invested in more than 200 companies over 33 years. Frazier has a philosophy of partnering with strong management teams while leveraging its internal operating resources and network to build exceptional companies. Frazier is headquartered in Seattle, WA, and invests broadly across the U.S., Canada, and Europe. For more information about Frazier, visit www.frazierhealthcare.com/home.

About DirectMed Imaging

DirectMed Imaging is a leading aftermarket diagnostic imaging parts, systems, and service provider. With over 100,000 parts in stock, the company repairs, supports, and sells GE, Siemens, Philips, and Canon/Toshiba MRI, CT, and X-ray parts to healthcare networks, imaging centers, and independent service organizations (“ISOs”) around the world. DirectMed also owns LBN Medical ApS, based in Aalborg, Denmark, a leading reseller of aftermarket medical imaging equipment and parts to customers around the world; and ScanMed, LLC, a leader in MRI coil design, manufacture, and repair. For more information, visit www.DirectMedImaging.com.