Harris Williams, an investment bank specializing in M&A advisory services, advised TTG Imaging Solutions, a portfolio company of Chartwell Investments Entrepreneur & Founder Capital, on its sale to Sentinel Capital Partners.
Katie Bowden, Tyler Bradshaw, Andy Dixon, Michael Mahoney and Gabby Struckell of Harris Williams’ healthcare and life sciences group led the transaction.
“Management and [Chartwell Investments Entrepreneur & Founder Capital] have done a tremendous job establishing TTG as a truly unique platform providing superior service levels for clients and positioning the business for strong growth for many years to come,” Dixon, who is a managing director at Harris Williams, said. “We look forward to seeing the company’s continued success and expansion in partnership with Sentinel.”
“The outsourced medical device services market is experiencing strong growth as healthcare organizations increasingly recognize the value proposition of independent service providers that deliver high-quality maintenance and repair services to mission-critical equipment,” Bradshaw, who is a director at Harris Williams, said. “Market tailwinds within advanced imaging modalities, such as nuclear medicine and molecular imaging, have accelerated over the past several years due to demographic trends, including increasing incidence of cardiovascular disease and cancer, greater clinical utility and adoption due to the image quality provided, and practices and physician offices seeking the cost-effective solutions independent service organizations offer.”
“The growth that TTG has achieved over the past several years has been fueled through inorganic as well as organic growth. It’s our differentiated level of service across all business units, coupled with a customer-centric philosophy, that attracts acquisition targets and customers alike to the TTG brand,” Matt Mastarone, president and CEO of TTG Imaging Solutions, said. “It was our goal to find a partner that shared our vision for the organization and the broader medical imaging industry. We are a solutions organization with a goal of enhancing and extending the life of our customers’ equipment while delivering turnkey and isotope efficiencies through our end-to-end model. We have found that partner in Sentinel.”
TTG Imaging Solutions is a provider of nuclear medicine and molecular imaging solutions.