626 Holdings, a provider of healthcare technology management services, has acquired diagnostic imaging parts supplier PhiGEM PARTS.
PhiGEM PARTS is set to join 626’s team of more than 100 employees nationwide — including over 85 field engineers — and is expected to streamline its image system repairs processes.
"PhiGEM has been a successful, steadily growing, high quality parts supplier to the HTM space for more than 10 years," Josh Glas, president of PhiGEM Parts, told HCB News. "We see this alliance as a means to expand our breadth and depth of inventory and customer base. As we fill coverage gaps in product mix, we will become an even more valuable supplier to our current customers and attract new customers. Also, as 626 growths we too will grow. And the icing on it all, it is brings us "closer" to the patient rather than simply providing the hardware to continue patient care."
The acquisition follows that of ISS, a third-party injector service and support supplier in the HTM space, and Innovatus’ DR-CR service business earlier this year
. 626 previously purchased another company, Walsh Imaging, back in 2017.
Founded in 2014 by Revien and Michael Fischer, 626 is a third-party maintenance company equipped to service all medical technology manufacturers and modalities.
Since 2010, PhiGEM PARTS has been a provider of multi-modality, multi-manufacturer, high quality parts as an original equipment manufacturer alternative. Company president Josh Glas will continue to head the company, which will be integrated as the parts division for 626.
"626 does each acquisition to enhance their value proposition to their service customers," said Glas. "The 626 strategic aim is to be the best imaging equipment service provider in the US. Walsh made them better at X-Ray, ISS made them better at Injectors, Innovatus CR-DR business made them better at end-of-life and PhiGEM makes them better at parts. It is all about bringing better quality and bigger solutions to their growing customer base."
No financial details about the acquisition were disclosed.