TRIMEDX Completes Acquisition of Aramark’s Healthcare Technology Business
Posted November 20, 2018
TRIMEDX closed a $300 million deal to buy Aramark’s Healthcare Technologies (HCT) business last week, adding more than 500 U.S. healthcare providers that used HCT for clinical engineering services to its portfolio. During the integration, the company will be called TMX Healthcare Technologies.
"The successful completion of this acquisition is an important milestone in our strategic growth,” said TRIMEDX CEO Henry Hummel in a statement. “We are excited to continue to lead the transformation of the industry by expanding our proprietary technology-driven solutions to a broader set of healthcare provider customers, driving clinical and financial results, as well as device security and compliance, with measurable and persistent value in an ever-changing environment.”
Aramark agreed to the sale so the company could focus its attention on its “core food, facilities, and uniform business,” according to Eric J. Foss, Aramark’s chairman, president, and CEO. The deal includes the transfer of all HCT team members from Aramark to TRIMEDX.
Aramark’s acquisition is part of a larger trend of consolidation and restructuring among independent service organizations. For example, in August, Federal Street Acquisition Corp. entered into a merger agreement with Universal Hospital Services, Inc., a nationwide provider of healthcare technology management services, that will create a new, publicly traded holding company called Agiliti, Inc.
This activity comes as the global medical equipment maintenance market is expected to exceed $33 billion by 2024, at a compound annual growth rate of 10%, according to Market Research Engine. Demand for higher-level expertise to service medical equipment and stronger demand for refurbished equipment are among the drivers of this projected market growth.