TSEO 2023-02: American Biomedical & Imaging Group


Basic Information

•    Type of Opportunity: Business and assets for sale
•    Opportunity ID: Project Commonwealth (TSEO 2023-02)
•    Posting Date: April 11, 2023
•    Closing Date: June 13, 2023

Description of Opportunity

The owner of American Biomedical & Imagining Group is seeking to sell their business and associated assets to an entrepreneur interested in operating an established and well-regarded company. Based in Seneca County, American Biomedical is a company dedicated to the repair and calibration of medical equipment that operates throughout Ohio, Michigan, and western Indiana. The company has a large existing customer base with a mix of new and long-term customers. Currently, American Biomedical has 4 full-time employees, 2 of whom are employed in Michigan, and 1 part-time employee. In the last year the company had nearly a half million dollars in revenue and has had an average EBITA of $82,500 over the last two years.

Included in the sale is:
•    The business and its existing contracts.
•    2 company vehicles.
•    All the equipment and tools necessary to operate the business.
Additionally, American Biomedical & Imaging Group leases a property in Tiffin that would be available to the new owner if desired.

Due to the nature of American Biomedical’s business, the owner is willing to stay on as an employee to the new owner to help them learn the business and to maintain the company’s relationship with existing clients. The owner is seeking approximately $395,000 and is open to setting up a payment structure for the purchase on a case-by-case basis.

How to Explore the Opportunity

•    Step 1: Pre-Qualification. Contact Adam Gillmor, TSEP Development Coordinator, at gillmor@tiffinseneca.org or by phone at 614.725.8086 to discuss your interest in the opportunity. 
•    Step 2: Further Discussion: After pre-qualification by TSEP, your name and contact information will be passed along to the Gibson Hotel Development team, who will initiate further discussion if interested.
•    Step 3: Due Diligence. After connecting with the pre-qualified entrepreneurs and businesses of their choosing, the development team will begin discussions, and the due diligence process will begin for both the seller and purchaser.
•    Step 4: Deal. If due diligence goes well, then the parties will move forward with the deal according to agreed-upon terms.  

To Stay Informed of Future Opportunities

•    Please contact Adam Gillmor, gillmor@tiffinseneca.org to be placed on the email list for future opportunities.

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