Middle market private equity firm Wafra Partners LLC is acquiring medical equipment repair company Intermed for an undisclosed amount.
Intermed sells and repairs x-ray and ultrasound machines. The company, headquartered in Alachua, Florida, also provides record keeping and consulting services to health care providers. Wafra says the sector is highly fragmented.
“Given our growth plans and the opportunities that lie in front of us, choosing a partner that understands our capabilities and will provide us with professional and financial support to help us achieve our mutual goals was critical,” says Intermed CEO Rick Staab.
Wafra, based in New York, usually invests in companies that have up to $150 million in enterprise value. The firm’s other health care investment is dental practice Smiles Services LLC.
In other repair services deals, Fluor Corp. (NYSE: FLR) is adding Stork Holding BV and Windjammer Capital Investors is buying Heritage Food Service Group from the Jordan Co.