Probo Medical, a portfolio company of Varsity Healthcare Partners since October 2018, has acquired Trisonics.
Trisonics is a provider of ultrasound service, support, systems, parts, transducers/probes and service training. The company’s inventory includes new, used, and refurbished ultrasound systems and parts from GE, Philips, Siemens, Sonosite, Toshiba and others. Trisonics was founded in 2004 and is headquartered in Harrisburg, PA (www.trisonics.com).
Trisonics’ CEO Jen Riner will join the Probo Medical leadership team. “Trisonics had a lot of options when looking for a partner, but Probo provided the perfect combination of growth, industry experience and vision within our consolidating industry,” said Ms. Riner.
Probo Medical provides new, used and refurbished ultrasound systems and ultrasound probes. The company uses its global supply chain to procure used ultrasound equipment from more than 250 source points and its internally trained workforce of repair technicians then refurbishes the equipment for resale to more than 500 customers globally. Probo Medical, led by President David Trogden, was founded in 2014 and is headquartered north of Indianapolis in Fishers, IN with additional facilities in Tulsa, OK and Tampa, FL (www.probomedical.com).
The buy of Trisonics provides Probo Medical with an extensive ultrasound service division to complement its current ultrasound equipment sales and refurbishment departments and expands the company’s service and sales reach throughout the eastern United States. “Trisonics is a great company and we’re thrilled to have them join the Probo Medical family of companies,” said Mr. Trogden. “The Trisonics team is one of the most experienced in the industry and will add tremendous value to our collective business.”
With the buy of Trisonics closed, Probo Medical now has four locations, more than 120 employees and continues to look for additional add-on acquisitions. In March 2018, Probo Medical added-on Tampa-based MedCorp, a refurbisher and reseller of ultrasound systems. The buy of MedCorp expanded Probo’s product line and made it one of the largest ultrasound-focused dealers in the world.
Varsity Healthcare Partners invests from $10 million to $60 million in companies that are active in the healthcare services sector and have from $5 million to $15 million of EBITDA. Varsity is currently investing out of its second fund, Varsity Healthcare Partners II LP, which closed in December 2016 with $300 million of capital commitments. The firm was founded by David Alpern and Kenton Rosenberry and has offices in Los Angeles and Stamford (www.varsityhealthcarepartners.com).
© 2019 Private Equity Professional | February 20, 2019