Innovative Medical Systems Inc.
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Innovative Medical Systems Inc. - overview
Established
1988
Location
Grand Rapids, MI, US
Primary Industry
Medical Devices & Equipment
About
Innovative Medical Systems Inc. specializes in developing healthcare solutions, focusing on ergonomic medical carts, computing workstations, and telehealth equipment to enhance clinical efficiency and patient care in hospitals and clinics. Innovative Medical Systems Inc. was founded in 1988 and is headquartered in Grand Rapids, US.
The company provides tailored healthcare solutions designed to improve workflow in medical settings. It operates as a subsidiary of Convergint Technologies LLC, which acquired it in December 2020, although financial terms were not disclosed. The CEO of the company is Robert Byram. Innovative Medical Systems specializes in a range of healthcare solutions, particularly ergonomic medical carts, computing workstations, and telehealth equipment.
Their core offerings include medical carts for various hospital departments, mobile computing workstations, and customized OB furniture, all designed to optimize clinical efficiency and enhance the patient experience. Their primary clientele includes hospitals, urgent care clinics, and educational institutions across the US, Canada, and select international markets. Innovative Medical Systems generates revenue through direct sales of its healthcare solutions, mainly engaging in B2B transactions with hospitals and clinical operators. The company focuses on customized solutions, leading to varied pricing based on customer needs and product complexity.
They offer one-time purchases as well as long-term partnerships that include installation and ongoing support services. Key products like the VIDICI™ mobile cart play a significant role in their overall sales, emphasizing tailored solutions that foster strong client relationships. Innovative Medical Systems plans to expand its product offerings with new designs for advanced medical carts and telehealth solutions, targeting launch by late 2021. The company aims to enter new markets, particularly in Europe and Asia, by 2023 to broaden its international reach.
The acquisition by Convergint Technologies LLC is expected to facilitate this growth, leveraging resources to enhance their product development and market integration.
Current Investors
Convergint Technologies LLC
Primary Industry
Medical Devices & Equipment
Sub Industries
Healthcare IT, Medical Devices & Equipment
Website
www.innovative-medical.com
Verticals
HealthTech
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Innovative Medical Systems Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Innovative Medical Systems Inc. | - |
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