Funding Obtained by Transcend Imaging Through Sales of Modular Gadgets
In July 2025, Modular Devices, a leading provider of mobile medical imaging equipment and cleanroom solutions, made a strategic growth investment in Transcend Imaging. This move aims to deepen Modular Devices' presence in the mobile MRI market and broaden its product offerings [1].
The partnership with Transcend Imaging, a provider of mobile MR imaging labs, is a significant development in the mobile MRI market. Transcend Imaging, founded in 2023, has gained traction due to strong vendor and customer relationships, and its best-in-class fleet has contributed to its dominance in the industry [4].
The strategic investment is part of Modular Devices' expansion strategy, and it is expected to capitalize on the forecasted continued growth of the interim lab market. Both companies anticipate continued growth in this market [1].
The partnership strengthens Modular Devices’ exposure and capabilities in mobile magnetic resonance imaging (MRI) services, enriching their portfolio beyond existing mobile and modular medical imaging solutions [1]. Modular Devices intends to leverage Transcend Imaging’s assets and customer base to provide a wider array of mobile imaging products and services, serving more customers and expanding market reach [1].
Transcend Imaging is positioned for substantial growth, and the investment comes at a timely moment to accelerate this expansion and realize combined strategic objectives with Modular Devices [1]. O2 Investment Partners, the parent company of Modular Devices, highlighted their confidence in the interim lab market’s growth potential and Transcend’s industry dominance, backing the continuous development of Transcend Imaging as part of Modular Devices’ broader expansion strategy [1].
Steve Richter, Managing Partner of Transcend Imaging, expressed optimism about the partnership with Modular Devices. A key executive from Transcend Imaging also expressed optimism about the investment, looking forward to working with the Modular team to achieve combined objectives [2].
Sam Wegenke of O2 Investment Partners is involved in the strategic investment in Transcend Imaging. O2 Investment Partners is a private equity firm focused on North American businesses [3].
The partnership between Modular Devices and Transcend Imaging is expected to deepen Modular's exposure in the mobile MR market, diversify Modular Devices' product offerings, particularly in the mobile MR space, and better serve its customers through Transcend Imaging's established platform.
Transcend Imaging, in the realm of science and technology, is seeking to amplify its growth with the help of private equity firm O2 Investment Partners, who have invested strategically to expand Modular Devices' health-and-wellness portfolio, specifically focusing on the mobile MRI market and the booming health-and-wellness sector.
