For immediate release GOLDEN, Colorado – October 7, 2010 – Unisyn Medical Technologies, Inc., a leading national provider of proprietary products and services to the diagnostic imaging industry, today announced the completion of its first year as an integrated company. Unisyn Medical Technologies was formed by Galen Partners, a leading healthcare private equity firm, over a two-week period in September and October of 2009 through the acquisition and combination of three leading independent companies providing technology-enabled products and services to the medical imaging market. Jeff Soinski, Unisyn’s Chief Executive Officer commented, “Over the past year, we have combined our three legacy businesses into a single operating company and increased our commitment to providing industry-leading service and support in our four core modalities of MRI, CT, Ultrasound and Mammography.” Mr. Soinski continued, “In our first year, we have strengthened our capabilities and made significant progress in a number of areas: - We have expanded our service organization with the addition of twelve new field service engineers and highly experienced national technical support personnel, made strategic new hires in our field sales organization, and grew our service business by over 20% across our four core modalities, with new service agreements for MRI and CT assets being our single biggest growth driver.
- We have expanded our business relationships with large corporate customers, such as national independent service organizations (ISOs) and original equipment manufacturer (OEM) multi-vendor service groups. Partnering with and supporting these large asset management organizations with service, parts supply, and depot repair remains an important strategic growth opportunity for Unisyn.
- We have developed and launched our Conversion™ ultrasound probe exchange program to better align our repair efforts with the needs of our clinical customers.
- We have doubled our ultrasound probe repair capacity and undertaken targeted initiatives to enhance both the efficiency and quality of our services, while maintaining the highest repair rates in the industry.
- We have combined our operations under a strengthened quality system and achieved certification to ISO 13485 and ISO 9001 as a unified company.
- We have made significant investment in research and development to advance the development of important new empowering tools and technologies for the diagnosis, repair and quality assurance of medical imaging equipment, and expand our field service and depot repair capabilities.
- We have received two new U.S. patents for our existing products and technologies, and have multiple patents pending for new technologies, which will add to our industry-leading intellectual property portfolio of eleven issued patents in diagnostic imaging service and repair.
- We have strengthened key elements of our management team and organization consistent with our growth, bringing in Dan Faath as our new CFO and adding key personnel in our finance and operations groups.
- And, we have not lost sight that it is our employees, partners, and most importantly our customers, who together enable us to grow as a company and continue to improve the quality and breadth of our offerings.”
David Jahns, Managing Director of Galen Partners, said, “We brought these three companies together based on our belief that reimbursement cuts and the continued pressure on healthcare costs have created a strong need for increased efficiency in diagnostic imaging among clinical and service customers. By leveraging many of Unisyn’s existing technologies and continuing to invest in proprietary new tools and capabilities within a national delivery platform, we believe we have created an entity that can deliver this efficiency, while providing enhanced quality and performance.” Mr. Jahns continued, “We are pleased with the progress Unisyn has made in its first year, and are encouraged by the market’s early response to what we believe is a unique and differentiated asset.” About Unisyn Medical Technologies, Inc.
Unisyn Medical Technologies, Inc. is a leading provider of products and services to the diagnostic imaging industry. Unisyn leverages its proprietary technologies and advanced technical capabilities to provide high quality, cost-efficient solutions for its customers across multiple modalities and vendor platforms. Unisyn's comprehensive solutions include on-site service and support, parts supply and depot repair, and quality assurance and accreditation. Unisyn Medical Technologies, Inc. is headquartered in Golden, Colorado and maintains operations in Longmont, Colorado and Cary, Illinois. Unisyn is a portfolio company of Galen Partners, a leading healthcare private equity firm. For more information, please visit Unisyn’s website at www.unisynmedical.com. About Galen Partners
Galen Partners is a leading healthcare growth equity, late stage venture capital firm based in Stamford, CT. The firm focuses on growth equity investments in healthcare technology enabled services, medical devices and specialty pharmaceutical companies. With nearly $1 billion under management raised through five funds, Galen has invested in more than 70 companies since 1990. The partnership seeks opportunities to actively participate as a lead investor in which it can provide between $10 million to $30 million of growth equity capital in healthcare related companies with established revenue. The firm continues a tradition of strategic collaboration and partnership with its portfolio company management teams to build healthcare market leaders. For more information, please visit Galen's website at www.galen.com. Contact:
Unisyn Medical Technologies, Inc.
Jeff Soinski, Chief Executive Officer
(303) 951-8040 Galen Partners
David Jahns, Managing Director
(203) 653-6440
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