Funding Received by Transcend Imaging Through Investment in Modular Gadgetry
Modular Devices Invests in Transcend Imaging to Boost Mobile MRI Market
Modular Devices, a leading provider of mobile medical imaging solutions, has made a strategic investment in Transcend Imaging, a company specializing in mobile MR imaging labs. This partnership aims to enhance Modular Devices' position in the mobile MRI market and expand its product offerings.
According to Steve Richter, Managing Partner of Transcend Imaging, the investment from Modular Devices came at an opportune time for Transcend as they pursue substantial growth. Richter expressed excitement about deepening Modular's exposure in the mobile MR space and diversifying their product offering.
Transcend Imaging, founded in 2023, has gained traction due to strong vendor and customer relationships. The company's best-in-class fleet and customer relationships have propelled the business into becoming a dominant player in the mobile MR industry, according to Mark Koers, CEO of Modular Devices.
Koers also expressed excitement about making a strategic investment in Transcend, anticipating continued growth in the interim lab market. Sam Wegenke of O2 Investment Partners, the parent company of Modular Devices, expressed anticipation about supporting the continued growth of Transcend.
The mobile MRI market is currently valued at approximately USD 4.38 billion in 2025 and is projected to grow to about USD 5.96 billion by 2030, reflecting a compound annual growth rate (CAGR) of 6.35%. This growth is driven by demand in clinical areas such as neurology, especially for urgent stroke and traumatic brain injury diagnostics, alongside technological advancements like AI integration and portable, helium-free MRI systems.
Key growth factors and market dynamics include technological innovation, expanding clinical applications, rising demand in home healthcare and outpatient services, regional growth, and AI integration in portable medical devices.
In sum, the investment by Modular Devices into Transcend Imaging fits into a strong and growing mobile MRI sector, supported by evolving technology, expanding clinical needs, and increasing adoption in diverse healthcare settings. The market’s trajectory indicates sustained moderate-to-strong growth through 2030 and beyond, with innovation and service expansion as key drivers.
References: 1. Grand View Research. (2021). Mobile MRI Market Size, Share & Trends Analysis Report By Component (Equipment, Services), By Application (Diagnostic, Interventional), By End-use (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers), And Segment Forecasts, 2021 - 2030. 2. MarketsandMarkets. (2020). Mobile MRI Market by Component (Equipment, Services), by Application (Diagnostic, Interventional), by End-use (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers), and Region - Global Forecast to 2030. 3. PR Newswire. (2023). Modular Devices and Interim Diagnostic Imaging Announce Strategic Partnership to Expand Mobile Imaging Offerings. 4. Healthcare IT News. (2021). How AI is transforming portable medical devices.
- Despite primarily operating in the mobile medical imaging sector, Modular Devices has recently shown an interest in expanding its portfolio, as evident by their investment in Transcend Imaging, a company specializing in science-driven health-and-wellness, such as mobile MR imaging labs.
- With the private equity firm, O2 Investment Partners, backing Modular Devices' investment in Transcend Imaging, it seems the company is positioning itself to not only capitalize on the growth in the mobile MRI market but also to explore opportunities in the health-and-wellness sector, where technological advancements like AI integration and portable, helium-free MRI systems are reshaping the landscape.
