CriticalPoint Partners, a boutique M&A Advisory firm, is pleased to announce that the Digirad Corporation (NASDAQ: DRAD), a diagnostic services and imaging company, has acquired DMS Health Technologies, a provider of mobile imaging and medical equipment sales and services.
CriticalPoint Partners acted as the exclusive M&A and financial advisor to Digirad.
Headquartered in Suwanee, GA, Digirad is one of the largest national providers of in-office nuclear cardiology and ultrasound imaging services, and also provides cardiac event monitoring services. With an operational reach spanning 27 states, Digirad serves an intricate customer network comprised of physician practices, hospitals, and imaging centers through their Diagnostic Services and Imaging segments.
DMS Health is an integrated health care services company headquartered in Fargo, ND providing mobile, fixed-site, and interim imaging as well as imaging and related equipment product sales and support. Employing approximately 250 employees, DMS Health has operations throughout the country, with a large concentration in the Upper Midwest.
Since a strategic repositioning which started in 2013, Digirad has been focused on value creation, growth, and cash flow generation primarily through acquisitions and organic growth. Focusing their own resources on internal growth initiatives, Digirad relied on CriticalPoint Partners to provide M&A guidance to execute an acquisition growth plan which ultimately led to the DMS opportunity.
Through deep market knowledge and years of complex deal experience, CriticalPoint Partners was able to advise Digirad through the entire deal life-cycle; managing the initial due diligence, negotiation, financing, and closing phases of the transaction. As a result of CriticalPoint’s unwavering dedication to value creation, Digirad was able to nearly double its geographical reach, expand its customer mix and introduce product through increased modalities.
“This is a true, strategic game-changer for Digirad,” Jeff Keyes, CFO of Digirad, stated about the deal. “Our partnership with CriticalPoint throughout the entire deal process proved to be the right choice, as their commitment to providing industry-leading M&A and financial guidance created value for our shareholders and helped position us for continued long-term growth.”
Matt Young, founder and CEO of CriticalPoint, stated, “I’m thrilled we were able to advise Digirad on the DMS deal, but even more so with the outcome of the transaction. The numerous synergies of these two companies will drive organic growth for the foreseeable future. I’m proud of our team’s tireless dedication in support of Digirad throughout the entire deal process.”
Transaction completed in conjunction with BA Securities.