HealthEdge Investment Partners has made an investment in Western Microsurgical (WMS), a US-based provider of surgical microscopes.
The investment in WMS was made alongside the existing management team and owners, who have retained significant ownership and will continue to be actively involved in the company’s operations.
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WMS founder and CEO Brian Bedrick said: “The entire WMS team and I are excited for the next chapter of growth in partnership with HealthEdge.
“The investment and expertise from HealthEdge will enable us to pursue partnerships with other leading ISO businesses across the US. Additionally, the investment will provide working capital that fuels growth as we continue to provide responsive, professional, and high-quality services to our clients.”
Established in 2001 by founder and CEO Brian Bedrick, WMS has evolved from a capital equipment distributor to an independent service organisation (ISO) in the region.
The company specialises in surgical microscopy for various medical fields, including neuro, spine, ENT, and ophthalmology.
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By GlobalDataIts support services range from maintenance and repair to sales and rentals, catering to hospitals, ambulatory surgical centres, and speciality clinics.
Additionally, WMS represents various manufacturers by selling new equipment and supplies.
HealthEdge principal Josh Hamrick said: “HealthEdge identified the opportunity to partner with WMS and other companies providing services in the microscopy market after researching and evaluating ISOs across the capital equipment market. We believe that with its technical expertise and high touch service, WMS is uniquely positioned to grow and scale into a national provider.”
After the transaction concluded, Erik Tivin joined WMS’s board of directors, bringing over two decades of industry experience.
Tivin’s background includes founding Centurion Service Group and holding an executive position at TRIMEDX.
Legal counsel for HealthEdge was provided by Hill Ward Henderson, while Forbes Partners and Michael Best & Friedrich served as financial adviser and counsel to WMS, respectively.
