Matrix Announces the Successful Sale of Berger & Burrow Enterprises, Inc. d/b/a Dynamic Mobile Imaging
RICHMOND, VA / BALTIMORE, MD – December 20, 2021 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it has advised Berger & Burrow Enterprises, Inc. d/b/a Dynamic Mobile Imaging (“Dynamic” or “DMI”), on its successful sale to True North Health Navigation LLC d/b/a DispatchHealth, the nation’s first comprehensive in-home medical care provider. Dynamic, headquartered in Richmond, VA, provides mobile x-ray and ultrasound services across the eastern half of the U.S. including Virginia, North Carolina, South Carolina, Georgia, Maryland, Washington, D.C., Delaware, Wisconsin, Indiana, Ohio, Minnesota, Kentucky and Michigan.
Originally founded in 2005 by a family of radiologic technologists, including Debbie Berger, Chief Executive Officer, Dean Berger, Chief Operating Officer, and Ron Burrow, Dynamic is a premier provider of portable digital x-rays, ultrasounds, EKGs, holter monitors, echocardiograms and dopplers. DMI provides these services to patients in skilled nursing facilities, assisted living homes, correctional facilities, universities, and home settings, as well as for sports teams and others who are unable to be transported easily. Over time, Dynamic expanded geographically beyond Richmond, VA and the surrounding region to include twelve states and the District of Columbia, growing to become one of the largest mobile imaging companies in the U.S. At the time of the transaction, DMI was owned by Debbie Berger, Dean Berger, and Clara Burrow, Chief Quality Officer.
Dynamic prides itself on having superior digital technology which allows for expedited care. By demonstrating continuous compliance with its high-performance standards and a commitment to providing safe and effective care, DMI is also proud to hold The Joint Commission’s Gold Seal of Approval®.
Matrix provided merger & acquisition advisory services to DMI, which included marketing the transaction, advising on valuation, deal structure, and other transaction terms, and ultimately achieving a successful execution. The transaction was managed by Amanda Verner Thompson and Vasanta Pundarika, Co-Heads of Matrix’s Healthcare Investment Banking Group; Casey Van de Walle, Director, and Anthony Hoffman, CPA, Analyst.
Debbie Berger, CEO of Dynamic, commented, “We were so fortunate to have worked with Matrix as our advisor. They have the most dedicated, super-charged team in the investment banking industry. They are here to get things done. We could not have done this without them.”
Ms. Thompson said, “We are excited to have advised the owners of Dynamic Mobile Imaging as they enter into this partnership with DispatchHealth and take the next step to enhance their future growth plans. It is truly a landmark transaction in the mobile imaging space.”
Ms. Pundarika added, “Multiple generations of the family have dedicated their energy into building up Dynamic Mobile Imaging. We are honored to have represented Debbie, Dean and Clara as they made this important decision for DMI.”
Williams Mullen served as legal counsel to Dynamic.