Agiliti

About Agiliti

Agiliti, Inc. operates as a crucial service provider to the U.S. healthcare industry, offering comprehensive medical technology management and service solutions. The company's history dates back to 1939 when it was founded as Universal Hospital Services (UHS). It rebranded to Agiliti in December 2018 to better reflect its wide range of services aimed at improving the efficiency of medical equipment management. A significant milestone in its corporate journey occurred in April 2021, when Agiliti went public through an initial public offering on the New York Stock Exchange under the symbol AGTI, pricing its shares at $14 each. However, its time as a public entity was relatively short. In May 2024, Agiliti was taken private by its majority shareholder, the private equity firm Thomas H. Lee Partners (THL), in a transaction that valued the company at an enterprise value of approximately $2.5 billion. This acquisition led to the delisting of Agiliti's stock from the NYSE.

The company is led by CEO Tom Leonard, who has been instrumental in its transformation. Leonard initially served as CEO from April 2015 to March 2023, and after a brief retirement, he was reappointed in October 2023. His background includes extensive experience in the healthcare sector, with prior leadership roles at CareFusion (now Becton Dickinson) and McKesson Provider Technologies. This deep industry expertise has guided Agiliti's evolution from a rental company to a holistic provider of medical technology solutions.

Agiliti's business model is centered on providing end-to-end Equipment Value Management (EVM) for healthcare providers. The company serves over 10,000 customers, including national, regional, and local acute care hospitals, health systems, and alternate site providers across the United States. Its revenue is generated through three main segments. The first is Equipment Solutions, which involves the rental of a vast fleet of medical devices like infusion pumps, ventilators, hospital beds, and surgical equipment on a supplemental or per-case basis. The second segment, Clinical Engineering Services, provides maintenance, repair, and biomedical support for all types of medical equipment, ensuring functionality and regulatory compliance. The third, Onsite Managed Services, offers comprehensive programs to manage the logistics, availability, and reprocessing of medical equipment directly within healthcare facilities, aiming to optimize utilization and reduce costs for clients. This integrated approach helps healthcare providers minimize capital expenditures on equipment, reduce operating complexities, and allow clinical staff to focus more on patient care.