Tri-Imaging Switches Sponsors

Quilvest Capital Partners has sold Tri-Imaging Solutions to DirectMed Imaging, a portfolio company of Frazier Healthcare Partners.

Tri-Imaging provides parts, on-site service, technical support, and training for diagnostic medical imaging equipment. The company supplies replacement components for MRI, CT, ultrasound, mammography, CATH/Angio, and X-ray systems and supports customers seeking alternatives to original equipment manufacturers for aftermarket parts and services. The company has in inventory of more than 100,000 MRI, CT, and X-ray parts.

Tri-Imaging also offers data analytics tools that help customers monitor equipment performance and manage maintenance activity, and it operates training programs for imaging engineers designed to improve uptime and service efficiency. Customers of the company include healthcare networks, independent service organizations, and equipment manufacturers. Tri-Imaging was co-founded in 2013 by CEO Eric Wright and is headquartered north of Nashville in Madison, Tennessee.

“Quilvest has been a great partner for Tri-Imaging over the last six years,” said Mr. Wright. “Their focus on investing in and supporting the growth ambitions of founder-owned services businesses proved to be invaluable, and their partnership helped position the company for its next chapter of growth.”

DirectMed is an aftermarket provider of diagnostic imaging parts and related services. The company sources, tests, and distributes parts for MRI, CT, X-ray, ultrasound, and mammography systems and maintains an inventory of more than 100,000 components. In addition to parts distribution, DirectMed provides technical support, repair services, pre-owned systems, and training programs for biomedical technicians and engineers. The business serves hospitals, imaging centers, and independent service providers. DirectMed, led by CEO Brad de Koning, was founded in 2012 and is headquartered near San Diego in Poway, California.

Frazier Healthcare acquired DirectMed Imaging from NMS Capital in October 2024 and to date has closed one other add-on acquisition with the January 2025 buy of Richardson Healthcare’s Fort Mill, South Carolina operation which added Canon/Toshiba MRI and CT parts capabilities, training programs, and distribution operations. Prior to Frazier’s ownership, DirectMed closed several other add-ons including Technical Prospects (2022), and Titanium Medical Imaging (2023).

“Quilvest’s partnership with Tri-Imaging is a great representation of our investment strategy,” said Ben Sass, partner and head of U.S. buyouts at Quilvest. “Through substantial investment in tech-enablement and infrastructure, Tri-Imaging truly differentiated itself and transformed its sector. We wish Eric, the team and its new partners nothing but continued success.”

Quilvest makes majority or influential minority stakes in lower middle market business services or consumer companies located in North America and Western Europe. The firm is the private equity arm of the Bemberg family and is headquartered in Luxembourg with additional offices in New York City, London, Paris, Hong Kong, and Dubai.

Frazier Healthcare has raised over $11 billion of capital for private funds and co-investment opportunities and has invested in more than 200 companies since its founding in 1991. The firm is headquartered in Seattle with an office in New York City and invests across the U.S., Canada, and Europe.

“Supporting DirectMed as it builds a scaled, global imaging platform has been a key focus for Frazier,” said Kent Berkley, a partner at Frazier Healthcare. “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.”

Harris Williams was the financial advisor to Tri-Imaging and Quilvest on this transaction.