Leonard Green buys Radon Medical after revenue tripled under 5th Century
What's the deal? 5th Century PartnersDealroom has a profile for this one. Try Dealroom → has sold medical imaging services company Radon MedicalDealroom has a profile for this one. Try Dealroom → to Leonard Green & PartnersDealroom has a profile for this one. Try Dealroom →. Terms were not disclosed. The sale closes a four-year investment that began in 2022.
What does Radon do? Founded in 1976 and based in Charleston, West Virginia, Radon services, repairs, and sells medical imaging equipment such as MRI, PET/CT and mammography systems. Its customers include major hospital systems, clinics, emergency rooms, and outpatient institutions.
Why now? The exit follows a clear buy-and-build run. Under 5th Century, Radon more than tripled revenue, expanded from five states to 26, and grew to more than 220 employees, including over 135 field technicians and engineers.
That growth came through four add-on acquisitions: Premier Imaging Medical SystemsDealroom has a profile for this one. Try Dealroom → in 2022, Tristate Biomedical SolutionsDealroom has a profile for this one. Try Dealroom → in 2023, Alpha ImagingDealroom has a profile for this one. Try Dealroom → in 2024, and Louisiana-based Majestic Medical SolutionsDealroom has a profile for this one. Try Dealroom → in 2025.
What they said: "This transaction reflects the strength of Radon's leadership team, the dedication of its employees and the execution of a disciplined growth strategy," said Marques Torbert, co-founder and managing partner of 5th Century Partners.
Chief executive officer David Wilson said 5th Century's support "enabled us to expand our capabilities, enter new markets and complete strategic acquisitions that strengthened our platform." Houlihan Lokey advised Radon on the deal; DLA Piper acted as legal counsel.
The signal: The deal fits growing investor appetite for outsourced imaging and medical-equipment services. In 2026, FFLDealroom has a profile for this one. Try Dealroom → backed imaging-service provider Ally Technical, while InclineDealroom has a profile for this one. Try Dealroom → invested in medical physics firm West PhysicsDealroom has a profile for this one. Try Dealroom →. For Leonard Green, Radon arrives as a scaled, multi-state platform ready for its next owner.
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