TTG Imaging Solutions (TTG) has acquired US-based Digirad Health from Star Equity for $40m.

The total consideration of $40m includes $27m in cash, a promissory note worth $7m, and $6m worth rollover common equity interest in TTG.

Based in Suwanee, Georgia, Digirad Health is an operator of a diagnostic imaging turnkey business. It provides original equipment manufacturer (OEM) services for fixed and mobile solid-state nuclear medicine cameras.

For over 20 years, Digirad has been delivering solutions to hospitals and outpatient providers.

Star Equity CEO Rick Coleman said: “The merger with TTG creates tremendous opportunity for the employees of Digirad. We have known for a long time that expansion into other modalities was the next evolution for Digirad. We are excited to partner with TTG as we expand our combined capabilities.”

The acquisition supports TTG’s expansion across the US, particularly on the West Coast.

It enhances TTG’s capabilities and expertise, allowing the firm to provide a unique solution to a diverse range of healthcare providers.

Furthermore, it boosts the company’s commitment to offering quality and affordable solutions in the areas of cardiology and radiation oncology.

The number of employees in TTG’s nationwide field service team has increased to more than 80, following Digirad’s acquisition.

TTG president and CEO Matt Mastarone said: “The acquisition of Digirad is transformational and complementary to our business, creating a leading imaging service platform serving multiple modalities.

“These business lines cement TTG as the premier full-service provider to the cardiology market and expand TTG’s reach into hospitals and healthcare systems.”

TTG’s end-to-end solution comprises TTG imaging solutions, cardiac imaging solutions, and TTG Isotopes.

The TTG imaging solutions covers sales of new and refurbished equipment and parts, clinical applications support, and services to expand the operational lifespan of medical imaging and treatment equipment.

Its cardiac imaging solutions include turnkey nuclear, echo, and vascular testing programmes, while the TTG Isotopes segment offers radiopharmaceuticals, including cardiac imaging agents, custom compounded iodine therapy, and products used in general imaging.