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Innovatus Imaging Corp., a newly created holding company formed by private equity firm Resilience Capital Partners and other co-investors, has acquired three medical device service and manufacturing companies, Pittsburgh-based Multi Vendor Service (MVS), Tulsa-based Wetsco, and Denver-based MD MedTech, LLC (MDMT).

MVS, acquired from Bayer Corporation, is a third-party service business for radiology devices, including ultrasound probes, magnetic resonance (MR) Coils, computed radiography (CR) readers, and dry film printers, as well as the sale of digital radiography retrofit devices. MVS provides repair and maintenance primarily for non-Bayer radiology devices. Bayer will continue to focus on providing service support for its own radiology devices. Bill Kollitz, general manager of MVS, becomes president and chief operating officer (COO) of Innovatus Imaging.

Wetsco, a third-party ultrasound probe repair provider that has had an exclusive agreement with MVS since 2008, specializes in repair and capability development on standard and 3D/4D probes. Dennis Wulf, who becomes chief executive officer (CEO) of Innovatus Imaging, most recently served as president of Wetsco and CEO of MDMT.

MDMT designs and manufactures specialty medical ultrasound products for the OEM, third-party repair, and research markets. MDMT was cofounded by Michael LaBree, who becomes Innovatus Imaging’s chief technology officer (CTO).

Innovatus Imaging also has reached a definitive agreement to acquire the European operations of MVS, based in Maastricht, the Netherlands. This transaction is expected to close by March 31, 2018. In the interim, Innovatus Imaging will continue to serve European customers through a transitional service agreement with Bayer.

“Combining the legacy Bayer MVS, Wetsco, and MDMT units to create Innovatus Imaging fuels our ability to support customers and the imaging community with expanded service offerings and new products,” says Wulf. “The combination will enable us to expand our offerings in such growth areas as medical equipment repair and help develop new and innovative products in the medical imaging space.”

Adds Kollitz, “The combination of these three businesses creates an unparalleled opportunity to expand the value of what we offer and provides strategic resources and services that will benefit healthcare organizations throughout the world.”

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