WJ Partners, a private investment firm that focuses on investing in lower middle-market companies, announced that it has completed the sale of Global Medical Imaging (GMI), a Charlotte, NC-based ultrasound and nuclear medicine sales and service organization. WJ Partners acquired GMI in 2009. Terms of the agreement were not disclosed.
Founded in 2002, privately-held GMI provides diagnostic imaging solutions to the private practice and hospital markets. The company specializes in ultrasound and nuclear medicine equipment for different patient types and medical specialties, like cardiovascular, obstetrics and general imaging. In addition to equipment sales and service, GMI also provides equipment financing, technical support, training, replacement parts and probe repair.
“We are very pleased with the growth that Global Medical Imaging has undergone since our initial investment in 2009,” said Benjamin Wall, Managing Partner at WJ Partners. “Medical imaging technology is experiencing rapid change, especially given the growing customer demand for quality service at reasonable rates. We have enjoyed helping to foster GMI’s growth and create long-term value, and look forward to watching the company in its next phase of growth under new ownership.”
Since WJ’s initial investment, GMI’s top line sales and profitability have increased significantly. The strategy included building out the Company’s team, upgrading GMI’s infrastructure, adding critical sales and service support functions, increasing the efficiencies of GMI’s offering and ensuring high quality customer support.
“Our work with GMI is an example of the unique value we bring to our portfolio companies,” said Mr. Wall. “We have a long track record of success in building infrastructure and teams, executing a strategic plan and ultimately, creating value for all stakeholders. We are very pleased with the management team’s accomplishments.”
With over 30 years of experience in consumer products and services, WJ Partners also specializes in business and professional services, industrial services, and specialty finance.