Milwaukee-based Alpha Source, a leading medical equipment solutions provider, has received a direct private investment from Milwaukee-based Baird Capital, a division of Robert W. Baird & Co. Inc.
Baird Capital described the investment as “significant,” but did not reveal the figure.
Baird has named Rick Lytle as the new chief executive officer of Alpha Source. He has more than 20 years of experience in global health care products and services. Norine Calson-Weber, who founded and co-owns Alpha Source, will continue to manage operations as chief operating officer.
“Our strategic partnership with Baird Capital will support the continued growth of Alpha Source’s core medical parts and battery business, while focusing on the continued rapid growth of our services business,” Carlson-Weber said.
As part of the agreement, Baird Capital partner Michael Bernstein and operating partner Fred Robertson have been appointed to the Alpha Source board of directors.
Alpha Source makes medical devices, particularly batteries and electronic components used in medical equipment maintenance and service, medical device battery manufacturing and medical equipment parts distribution.
“Alpha Source is one of the fastest growing companies in the U.S. because they are constantly forging new directions in the delivery of innovative, efficient and quality health care equipment solutions,” Bernstein said. “We are excited to partner with the Alpha Source team and support the business as it continues its expansion in the market.”
