Medical Portfolio Firm of Bloomfield Hills’ O2 Investment Combines with Nashville Firm

Modular Devices, a provider of mobile and modular medical imaging equipment labs and cleanroom solutions, and a portfolio company of Bloomfield Hills’ O2 Investment Partners, has combined with Cardiac Services Mobile Inc. Terms of the deal were not disclosed.
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a mobile medical lab
The mobile lab service capability of Modular Devices Inc. has increased its capacity by nearly 33 percent after combining with Cardiac Services Mobile Inc. // Courtesy of Modular Devices

Modular Devices, a provider of mobile and modular medical imaging equipment labs and cleanroom solutions, and a portfolio company of Bloomfield Hills’ O2 Investment Partners, has combined with Cardiac Services Mobile Inc. Terms of the deal were not disclosed.

“Following on the heels of the recent acquisition of Modular Devices by O2 Investment Partners in Bloomfield Hills, this is the first step of our strategic plan to grow our market share and product offering,” says Greg Mink, CEO of Modular Devices in Indianapolis.

“The addition of Cardiac allows us to meet the market demands of our growing customer base as we upgrade the imaging capabilities in Cardiac Service’s mobile labs. The acquisition adds nearly 33 percent more capacity to our existing infrastructure.”

Cardiac Services Mobile, based in Nashville, offers nationwide short- and long-term monthly equipment leases of cath-, angio-, peripheral vascular, IR, and EP mobile labs with state-of-the-art equipment. Turnkey options include 24/7 technical support and equipment service.

“We are excited about the partnership with Modular Devices and creating the premier provider of mobile and modular cardiovascular labs in the United States,” says Keith Harb, CEO of Cardiac Mobile Services.

Part Corden of O2 Investment Partners says: “The combination of Modular Devices and Cardiac creates a best-in-class business with more scale to meet increasing market demand and provides a greater opportunity for organic and inorganic growth opportunities. We are enthusiastic to execute on our growth plan with our partners.”

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