Funding Secured by Transcend Imaging Through Sales of Modular Equipment
Modular Devices Invest in Transcend Imaging to Expand Mobile MRI Market Presence
In a strategic move aimed at expanding its presence in the mobile MRI market, Modular Devices, a leading provider of mobile medical imaging equipment and cleanroom solutions, has made a growth investment in Transcend Imaging.
Founded in 2023, Transcend Imaging has quickly gained traction due to its strong vendor and customer relationships. The company is recognised for its best-in-class fleet of mobile MRI labs, positioning it as a dominant player in the industry.
The investment comes as Modular Devices forecasts continued growth in the interim (mobile) lab market and seeks to deepen its exposure specifically in the mobile MR space while diversifying its overall product portfolio.
According to Sam Wegenke of O2 Investment Partners, the parent company of Modular Devices, this strategic move reflects their commitment to growth in the growing interim/mobile lab sector, particularly mobile MR imaging, while strengthening and broadening their product range by partnering with an established leader like Transcend Imaging.
Mark Koers, CEO of Modular Devices, expressed excitement about the investment, forecasting continued growth in the interim lab market. He believes that this partnership will help Modular Devices better serve customers through expanded product offerings and execute an aggressive expansion strategy in mobile MRI.
Steve Richter, Managing Partner of Transcend Imaging, shared similar sentiments, expressing excitement about the partnership with Modular Devices. He believes that it will deepen their exposure in the mobile MR space and diversify their product offering.
The partnership is designed to support substantial growth ambitions of Transcend Imaging, leveraging Modular Devices’ resources and market reach. The investment by Modular Devices in Transcend Imaging is expected to facilitate continued growth in the interim lab market.
Modular Devices serves hospitals and healthcare providers across the U.S. and Canada. With this investment, they aim to enhance their position in the mobile MRI market and expand their product offerings. The Transcend Imaging team looks forward to working with the Modular Devices team to realize their combined objectives.
[1] Press Release. (2025, July). Modular Devices Invests in Transcend Imaging. [Online]. Available: https://www.modulardevices.com/press-releases/modular-devices-invests-in-transcend-imaging
[2] Transcend Imaging. (2023). About Us. [Online]. Available: https://www.transcendimaging.com/about-us
- Modular Devices, a private equity-backed company focused on mobile medical imaging equipment and cleanroom solutions, has announced plans to diversify its product portfolio and expand into the health-and-wellness sector by partnering with Transcend Imaging, a leading science company specializing in mobile MRI labs.
- With this strategic move, Modular Devices, a leading player in the technology-driven mobile lab market, aims to leverage Transcend Imaging's expertise in the mobile MR space to develop innovative health-and-wellness technology solutions, further enhancing their presence in the growing interim lab market.
