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Cascadia Capital, LLC, an independent investment bank serving middle-market clients globally, is pleased to announce that it served as financial advisor to Frazier Healthcare Partners (“Frazier”) on the acquisition of Tri-Imaging Solutions (“Tri-Imaging” or the “Company”) by its portfolio company DirectMed Imaging (“DirectMed”).
DirectMed is a leading aftermarket diagnostic imaging parts, systems, and service provider. With over 100,000 parts in stock, DirectMed repairs, supports, and sells MRI, CT, and X-ray parts to healthcare networks and independent service organizations worldwide. DirectMed also owns LBN Medical ApS, a global reseller of aftermarket medical imaging equipment and parts, and ScanMed, LLC, a leader in MRI coil design, manufacture, and repair.
Tri-Imaging Solutions is an integrated provider of imaging replacement parts, equipment, on-site service, technical support, and industry-leading training for medical imaging professionals. From its facility in Madison, Tennessee, Tri-Imaging supports customers nationwide with quality-tested parts across major modalities and OEMs, real-time technical support, and a comprehensive training roadmap for imaging engineers.
Together, the two companies will be combined into a single, integrated provider of aftermarket diagnostic imaging parts, systems, service, and technical training, operating under the Tri-Imaging name. The new Tri-Imaging platform will give customers a scaled partner focused on maximizing imaging uptime, extending equipment life, and lowering total cost of ownership.
The combined organization will be led by the current Tri-Imaging leadership team, with Eric Wright as CEO, and will bring together two complementary imaging platforms serving healthcare networks, independent service organizations, and equipment manufacturers.
“DirectMed and Tri-Imaging share a common purpose of keeping critical imaging equipment up and running so providers can focus on patient care,” said Eric Wright, CEO of Tri-Imaging. “Bringing our teams together under the Tri-Imaging name strengthens and expands our ability to globally support customers with the parts, service, and training they need across imaging modalities.”
“Supporting DirectMed as it builds a scaled, global imaging platform has been a key focus for Frazier,” said Kent Berkley, Partner at Frazier Healthcare Partners. “Adding Tri-Imaging’s highly regarded service, parts, and technology platform capabilities is a natural next step in that strategy and aligns with our goal of creating a best-in-class imaging solutions provider.”
“We appreciated the opportunity to work alongside the Frazier team on this transaction as they continue to build a scaled, high-quality imaging services platform,” said Adam Stormoen, Managing Director at Cascadia Capital. “The transaction reflects the broader momentum we’re seeing across medical equipment services, where sponsors and strategic buyers continue to seek opportunities in the repair, maintenance, and service of mission-critical equipment that support healthcare providers and improve reliability across the care continuum.”
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