NEW YORK – September 2021 – Atlantic Street Capital ("ASC"), a private equity firm targeting entrepreneurial businesses poised for the next level of growth, consummated a partnership with an investment in Prestige Medical Imaging (PMI), the largest independent radiology service and solutions provider in the Eastern United States.
Founded in 2003 and headquartered in Newburgh, NY, Prestige Medical Imaging is a medical imaging solutions company providing equipment service, maintenance and support to hospitals, physician practices, ASCs and sports teams across the United States. Key products represent a broad suite of medical imaging equipment including X-ray machines, mammography systems, CT scanners, ultrasound machines, MRI systems and surgical C-arm systems. Customer practice specialties include orthopedics, radiology, pulmonology, veterinary, urology, podiatry, urgent care centers and professional sports teams. PMI is the official X-ray equipment provider of the NBA and several professional sports teams.
George Parry, Partner of ASC, and deal lead said, "PMI is a service first organization, differentiating itself against competitors that are positioned as sales-first. PMI offers 24/7/365 service coverage, providing the flexibility that national competitors are unable to provide, servicing its customers at the local level. We are excited to begin working with Bill to broaden the company's geographic footprint and identify select acquisitions to enhance its suite of product offerings."
Quest Imaging Solutions provides all major brands of surgical c-arms (new and refurbished) and carries a large inventory for purchase or rent. With over 20 years in the medical equipment business we can help you fulfill your equipment needs
Bill Haussmann, founder and Chief Executive Officer of Prestige Medical Imaging, commented, "Our business was founded on the basis of providing the highest level of expert service to our customers, whether they are a large sports team or a small medical office and for nearly 20 years we have lived up to that purpose. With the added support of Atlantic Street Capital, who have invested in businesses similar to ours, we will continue to create scale while delivering best-in-class radiology solutions and services to new and existing customers." Bill will retain his CEO position and maintained a meaningful ownership position in the business along with several key management team members.
ASC's expertise in the healthcare services sector includes its investments in Renew Digital, a leading provider of dental imaging equipment as well technical service and support for dental offices nationwide; Advancing Eyecare, a partnership of leaders in the eyecare instrumentation marketplace; Prescott's, the leading provider of refurbishment, maintenance, repair and service work for surgical microscopes utilized in hospital operating rooms and ambulatory surgery centers; OrthoBethesda, the premier provider of orthopedic services in the greater Washington, D.C. region; Lab Logistics, provider of mission critical, transportation solutions exclusively focused on the medical laboratory and hospital industry; and Anatomy IT the leading provider of managed IT services to the healthcare industry across the tri-state area. ASC's investment in PMI represents the first of several anticipated acquisitions in the medical imaging services and solutions market.
About Prestige Medical Imaging
Prestige Medical Imaging is the largest independent radiology service and solutions provider in the Eastern United States. Founded in 2003, PMI is headquartered in Newburgh, NY and has 10 regional offices located across 6 states. With experienced field service engineers and a committed sales staff, PMI proudly serves hospitals, imaging centers, medical groups, orthopedic groups, and professional sports teams, providing the digital imaging technology, support, products, and training necessary to keep mission-critical environments running smoothly. Prestige Medical Imaging is the Official X-Ray Equipment Provider of the NBA.
About Atlantic Street Capital
Atlantic Street Capital is a private equity firm that invests in lower middle market companies with between $4 million and $25 million in EBITDA. The firm invests in fundamentally sound companies that will benefit from capital investment and value-added strategic and operational initiatives. Atlantic Street Capital's approach are hands-on investors who work closely with management to unlock their business' underlying value and help them succeed. The firm is currently making investments in Atlantic Street Capital IV, LP.