Alpha Source completes acquisition

Company doubles in size, expands to more cities

Alpha Source Inc., a company that distributes medical equipment parts and services ultrasound equipment, has completed an acquisition that will double its size and increase its revenue to more than $80 million a year.

The company, based in Milwaukee and owned by Baird Capital, said it has bought BC Technical Inc., a company that services imaging equipment.

The acquisition expands Alpha Source’s business of maintaining and repairing ultrasound and bone density equipment to include equipment for computed tomography, magnetic resonance imaging, positron emission tomography and other imaging modalities.

It also gives the company a larger footprint, said Rick Lytle, chief executive of Alpha Source.

BC Technical has offices in Chicago, Louisville, Ky., and Salt Lake City.

Alpha Source contracts with health systems, physician practices and imaging centers, as well as with equipment manufacturers, to service the equipment.

Baird Capital, the direct private investment arm of Milwaukee-based Robert W. Baird & Co. Inc., bought con- trolling interest in Alpha Source in 2015.

At the same time, Baird Capital bought the service businesses for some of GE Healthcare’s bone density and some of its ultrasound equipment, Lytle said.

Alpha Source had revenue of more than $40 million at the time and employed about 60 people.

With the BC Technical acquisition, Alpha Source will employ about 350 people, including about 50 in Milwaukee.

Earlier this year, Alpha Source bought Medical Optics, based in Fort Lauderdale, Fla., which services endoscopes and other surgical equipment.

Lytle said the company plans to pursue other acquisitions.