ACP Acquires Heritage Imaging for Healthcare Access

Align Capital Partners (ACP) has finalized its acquisition of Heritage Imaging, a significant player in mobile diagnostic imaging services. This strategic move positions ACP to enhance healthcare accessibility, particularly in underserved regions across 14 states. Heritage Imaging, under the continued leadership of Chief Executive Officer Dr. Steve Coppess, will leverage ACP's operational expertise and capital to accelerate its growth trajectory.

Founded in 1989, Heritage Imaging has established a robust network, delivering essential imaging solutions like PET/CT, MRI, and ultrasound to hospitals and healthcare facilities. The company's model focuses on bringing advanced diagnostic capabilities directly to critical access hospitals, community clinics, and local health centers, thereby reducing patient travel burdens and improving care delivery. This focus on rural and remote markets addresses a critical need in the healthcare sector, where access to specialized equipment can be limited.

The private equity firm, Align Capital Partners, known for its focus on the lower-middle market, sees substantial opportunity in Heritage Imaging's established infrastructure and strong client relationships. Rob Langley, Managing Partner at ACP, highlighted the alignment between Heritage's route-based service model and the firm's investment thesis. "The Company’s history of M&A, long-term customer relationships and operational reliability aligns well with ACP’s experience of partnering with differentiated, route-based service providers," stated Langley.

Dr. Coppess expressed enthusiasm for the partnership, emphasizing the shared vision for expanding Heritage Imaging's reach. "While we have significantly expanded our reach over the years, we are excited to partner with Align Capital Partners to further extend our impact," he commented. The collaboration is expected to fuel further expansion, with a strategic emphasis on acquiring similar outsourced imaging providers and broadening service offerings into new diagnostic modalities.

This acquisition comes at a time when the demand for outsourced medical imaging services is on the rise. The U.S. diagnostic imaging market is projected to grow, driven by an aging population, increasing prevalence of chronic diseases, and advancements in imaging technology. Mobile imaging solutions, in particular, offer a cost-effective and flexible alternative for healthcare providers looking to expand their service portfolios without significant capital investment in fixed infrastructure.

Heritage Imaging has a proven track record of strategic growth, having completed three add-on acquisitions since 2024. With ACP's backing, the company is poised to continue this acquisitive strategy, targeting complementary businesses and service lines. The transaction team at ACP included Matt Bowen, Ross Fuller, Sarah Whitney, and Sandy Bishop. McGuire Woods provided legal counsel to ACP, while Cascadia Capital and Holland & Knight advised Heritage Imaging.