Leonard Green buys Radon Medical Imaging from 5th Century Partners

5th Century Partners said it completed the sale of portfolio company Radon Medical Imaging to Leonard Green & Partners. The firms did not disclose the transaction terms.

Radon, based in Charleston, West Virginia, services, assembles, repairs and sells new and refurbished medical imaging equipment, counting hospital systems, clinics and outpatient facilities among its customers. During 5CP's ownership, which began in 2022, the company more than tripled revenue, expanded from five states to 26 and grew to more than 220 employees, including over 135 field service technicians and engineers.

That growth was supported by add-on acquisitions of Premier Imaging Medical Systems, Tristate Biomedical Solutions, Alpha Imaging and Majestic Medical Solutions. Houlihan Lokey advised Radon financially and DLA Piper provided legal advice; 5CP managing partner Marques Torbert said the sale reflects the company's leadership and disciplined growth strategy.