Granite Bridge Partners’ (“Granite Bridge”) portfolio company The InterMed Group (“InterMed” or the “Company”) is a premier provider of integrated health technology management services, offering a broad range of services to healthcare providers including inspection, preventative maintenance, corrective repair, logistics planning, and consulting. As an OEM-agnostic provider of medical equipment management solutions covering all modalities including Nuclear Medicine, Ultrasound, X-Ray, CT, MRI, DR, CR and various lab equipment, InterMed allows its clients to use a single provider for multi-modality needs instead of multiple contracts with OEMs or redundant staffing. The Company strives to enhance overall program quality, cost, and timeliness, by tailoring its services to the needs of their clients, with the speed and creativity of a smaller player, but with the professional coverage of a much larger provider.
Long-term industry stalwart, InterMed, joined forces with financial partner, Granite Bridge (formerly Wafra Partners) in 2015. Under the leadership of Rick Staab, InterMed established its reputation as a premium service provider and experienced strong organic growth. Following its partnership with Granite Bridge, Rick and his management team were looking to further enhance their growth through a targeted M&A strategy to deepen their service and product offerings, acquire new customers, and expand geographically into new U.S. markets.
The Company engaged G2 Capital Advisors, LLC (“G2”) as its exclusive buy-side advisor, leading a tailored buy-side effort focused on engaging with companies that have strong reputations for medical management and maintenance solutions across all modalities.
G2’s search led to the acquisition of Modern Biomedical & Imaging, Inc. (“Modern”) which added a new location, additional capabilities, and a strong brand in the market. InterMed acquired Modern, an independent provider of equipment maintenance services to healthcare facilities in the southern region of the United States. Together these organizations will leverage their newly combined talent, service offerings and geographic footprint to deliver a more integrated solution of equipment management services to healthcare systems across the US.