Medical Imaging Service Provider. The company services and repairs medical imaging equipment. Existing contracts are Evergreen - meaning they auto-renew and are transferable. Company is well-established with over $1MM in revenue and very lucrative bottom-line cash flow. Plentiful inventory included.
Currently, the company is in a month-to-month lease situation in NC. However, the company can be relocated anywhere the new owner desires. Service contracts are for companies all over the country - and there is no required location for the headquarters/warehouse.
Ideally this company would be considered a fold-in acquisition for an existing business in the industry. Someone new to the industry could market for new service contracts from the vast number of medical facilities that use medical imaging equipment. Additionally, the current ownership will provide the new owner with a list of roughly 20 companies interested in shopping their service contracts - and assist them soliciting business during the training period.
There are over 14,000 serviceable machines in operation in the U.S., nearly all of which are under some form of service contract. There are dozens of repair and service providers. Typically, a machine will be serviced by the company that supplied the equipment for one to three years as part of the original purchase agreement. After that period of time, it is not uncommon for the medical facilities to shop the service contract for better pricing.
Formerly the business sold new equipment and obtained repair contracts. The company is no longer involved in new equipment sales and the partnership wants to sell the repair contracts.
Will train for 4 weeks @ $0 cost. There are annual licenses required (paperwork and payment only), but there are no specialized requirements - either for the owner or the business itself. There is a need for qualified and certified employees who actually work on the equipment, but the company has those necessary employees - and the market has plenty of players should the need for expansion arise.