Allied Business Group is pleased to announce the sale of St. Joseph, Missouri-based Mobile Medical Services to MobilexUSA.
Mobile Medical is a niche provider of health care diagnostic imaging services that serves a four-state region in the Midwest. Owner Zach Evans founded the company in 1992, which provides portable diagnostic X-ray, ultrasound and EKG services to long-term care facilities, nursing homes, assisted living communities, psychiatric facilities, home health agencies and hospices in the Midwest. Since being established, Mobile Medical has expanded to include Ozark Mobile Imaging, LLC and Clearview Mobile Imaging, LLC. All three entities were acquired by the purchaser.
Headquartered in Maryland, MobilexUSA is a subsidiary of TridentUSA Health Services and provides mobile imaging services to over 6,000 facilities in more than 30 states nationwide. The acquisition of Mobile Medical provides MobilexUSA with the opportunity to increase its market share in the Midwest and add to its network of 200-plus service locations. Furthermore, MobilexUSA will provide Mobile Medical with the resources to ensure that the company’s customer base continues to receive high-quality X-ray, EKG and ultrasound services in the face of significant changes in the health care industry.
Allied Business Group Managing Director Jeremy Simmons acted as the exclusive financial adviser to Mobile Medical in the sale process. Simmons has been involved in several transactions in the healthcare space over the past 18 months, and expects that trend to continue.
“Rising costs to keep up with technology and new regulations, as well as looming cuts in reimbursement rates are forcing smaller healthcare providers like Mobile Medical to rethink their long-term business strategy,” Simmons said. “The health care industry is very much in a consolidation phase, and players like MobilexUSA that have the capital and a diversified service offering have a much better shot at being successful in an industry that will be experiencing many changes in the near future.”