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February 21, 2024

BGL Announces the Sale of Alpha Source Group to Probo Medical

Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Alpha Source Group (Alpha Source), a leading medical equipment service, repair, maintenance, and parts provider for original equipment providers (OEMs) and healthcare providers, to Probo Medical (Probo), a private equity backed global provider of medical imaging equipment, parts, repair, and service. BGL’s Healthcare & Life Sciences investment banking team served as the exclusive financial advisor to Alpha Source Group in the transaction. The specific terms of the transaction were not disclosed.

Headquartered in Milwaukee, Wisconsin, Alpha Source delivers technical field service, depot repair, equipment refurbishment and resale, and parts distribution solutions to the North American healthcare market. Their expertise and capabilities are utilized across a broad customer base that includes original equipment manufacturers (OEMs), asset managers, hospitals, distributors, and resellers. Alpha Source is comprised of its subsidiaries, Alpha Source Biomed Solutions, BC Technical Imaging Solutions, and Medical Optics Surgical Solutions.

The acquisition of Alpha Source expands Probo to more than 800 employees worldwide across nearly 20 locations throughout North America, Europe, and the United Kingdom. By integrating Alpha Source’s technical capabilities and expertise across a variety of diagnostic imaging modalities, Probo will offer expanded diagnostic imaging services and solutions to its client base.

BGL’s Healthcare & Life Sciences investment banking team has decades of experience advising companies across the diagnostics, research tools, lab equipment and services, and outsourced pharmaceutical services landscape. We have provided capital formation, technology strategy, corporate ventures, and M&A strategy for a wide range of companies. Additionally, we maintain active relationships with global healthcare and life sciences industry participants and capital providers, and closely follow regulatory and reimbursement trends.