Granite Bridge Partners LLC has added to its medical equipment services platform, The InterMed Group, with the purchase of Modern Biomedical & Imaging Inc. Modern represents the third InterMed investment since Granite Bridge’s formation in July 2018 as the manager of the former direct equity portfolio of Wafra, Inc.
Modern is an Irving, Texas-based provider of comprehensive asset management and healthcare technology management services.
Rick Staab, CHTM, CEO of InterMed, said “I am excited to bring together The InterMed Group and Modern after many successful years working congruently in the industry. I truly believe we are better together than apart. The similarity in our culture’s strategic footprint, and talented people that comprise both companies will undoubtedly strengthen the services we offer our clients. Both Modern and InterMed uphold reputations for delivering excellent service and, together, we will continue to enhance and expand our expertise to bring the best to our partners well into the future”.
Randy Bullard, chief executive officer for Modern Biomedical & Imaging, Inc., adds that “With the Modern Biomedical team joining forces with The InterMed Group we believe this creates the ultimate HTM solution for our customers’ needs. We believe InterMed’s values, ethics and Rick Staab’s strong leadership mirrors Modern’s team and will continue to offer customers the same quality of service we have provided for the past 43 years while creating increased employee growth opportunities.”
Michael Goodman, a partner at Granite Bridge, commented, “The acquisition of Modern is expected to solidify The InterMed Group as one of the leading independent providers of HTM services to hospitals, imaging centers and health care facilities in the US. The addition of Modern expands InterMed’s presence further into the southwestern US resulting in complete geographic coverage along the eastern seaboard through the southwestern US along with adding significant engineering depth to both its biomedical and engineering service offerings.