Lubar & Co., a Milwaukee family-based investment firm has purchased a 50 percent ownership interest in Shared Imaging LLC, a Streamwood, Ill. provider of diagnostic imaging systems and service for hospitals and health care providers. Shared Imaging purchases CT, MRI and other medical imaging equipment, then leases it to hospitals and health care providers around the country. It currently has more than 200 systems in 42 different states. "In addition to leasing services, the company can also operate the equipment, train and assist the providers," said David Lubar, president of Lubar & Co. "They can help users understand its options and features. And with the additional flexibility they provide, equipment can be mounted on trailers and driven to a facility once a week or built into the facility on a permanent basis."
Terms of the purchase were not disclosed. Ray Stachowiak, founder and CEO of Shared Imaging, retained a 50 percent interest in the company. The investment will allow Shared Imaging to expand its service offerings, entering new markets and providing additional value to clients. Lubar & Co. will provide Shared Imaging with both capital and management resources, Lubar said, which will also help the company grow its sales and revenues.
"We selectively invest in companies with outstanding management teams and sound business plans," he said. "Shared Imaging founder and CEO, Ray Stachowiak, is a strong leader with a proven track record in the diagnostic imaging solutions field. We’re confident that our investment and management support will serve as a catalyst to enable the company to grow and expand in ways not previously feasible." Lubar & Co. will help Stachowiak develop a formal business plan to grow his company beyond its existing market, Lubar said.
"It will encompass the need to strengthen and build his management team and infrastructure on the people side," he said. "And it will be to acquire additional pieces of equipment on the financing side."Shared Imaging has improved growth potential with Lubar & Co.’s involvement, Stachowiak said. Lubar & Co. has invested in several health care related companies in its 30-year history, Lubar said. The company also takes a long-term view to its investments, making it an attractive alternative to private equity buyers.
"The investment from Lubar has made a strong company even stronger," said Stachowiak. "Our management team has a tremendous amount of respect for the Lubar organization, the firm’s long history of successful investments, and the quality of their business counsel. Lubar’s guiding operating principals clearly include honesty, integrity and respect, which have permeated our relationship from day one."
