Probo Medical (“Probo”), a leading global provider of medical imaging equipment, parts, repair and service, announced the acquisition of Davis Medical Electronics, Inc. (“Davis Medical”). Terms of the transaction were not disclosed.
Davis Medical, founded in 1983 in Vista, CA, led Randy Davis and Marion Davis, is a leading provider of equipment and supplies for cardiology practices. For over 40 years, Davis Medical has specialized in supporting cardiologists with a variety of medical and imaging equipment, supplies and services, including ultrasound systems and probes, EKG’s, cardiac stress test equipment and cardiac monitoring equipment.
“As Probo Medical has grown, we’ve seen the value of tailoring our commercial offering to the specific needs of specialists that we serve. Davis Medical provides us with exactly that in the cardiology specialty, with decades of experience and a refined approach to support cardiology practices with the equipment, services and supplies they need to run their practice,” said Michael Asmer, CEO of Probo. “Additionally, the Davis Medical team adds significant strength to our footprint in the western US.”
“Our team at Davis Medical has known the Probo team for decades. As we looked for a partner to take the business to its next phase of growth, Probo was the clear choice. Probo’s capabilities in the areas of equipment sales, repairs and servicing will bring added depth to the value that the Davis Medical team can offer to our customers,” said Randy Davis, Founder and CEO of Davis Medical.
Probo Medical is backed by Avista Capital Partners, a leading New York-based private equity firm with more than 40 growth-oriented healthcare businesses globally.