626 Holdings LLC has announced the acquisition of the CR and DR business of Innovatus Imaging.
“While COVID-19 was a devastating event for the U.S., the world and our industry, it did provide an opportunity to appreciate and continue to grow our business. The work of our FSEs (closing in on 100) during the crisis was as impressive as the loyalty our customers showed us during this period,” 626 CEO Philip Revien said. “As we looked at areas of growth in a post-crisis space, we used the time to add the CR and DR business of Innovatus. This will be a great addition to our already successful Walsh Imaging portfolio. It provides a national reach to our established radiology service businesses in the eastern U.S. and we are thrilled with the customer alignment.”
“We are uniquely positioned to grow this business and we are eager to add a team of highly talented and soon-to-be additionally versatile engineers from Innovatus. We are very humbled by our consistent growth and success,” Revien added.
“We are confident we can leverage this business and it provides a great platform for other ISOs and hospitals that need this modality serviced, to look to 626/Walsh/ISS for not only CR and DR service, but for all of the solutions we can provide in the space” added Michael Fischer, CFO, 626.
“Innovatus made this move to better prepare us to grow our core businesses. We selected a partner that would take great care of our customers and would be a long-term, successful home for our engineers servicing this market … who better than 626?” stated Dave Johnson, CEO at Innovatus.
626’s purchase of Walsh Imaging two years ago, ISS in late 2019 and the Innovatus CR-DR business, follows their approach to base acquisitions on what matters most to them; family fit and customer need. This method has proven to be successful as they were able to double Walsh Imaging’s business within two years and they have already begun to scale the ISS business. We plan to do the same with the Innovatus CR-DR business. This family keeps getting bigger … and better.
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