Farragut Invests in IMRIS Imaging

CHEVY CHASE, MD – Farragut Capital Partners is pleased to announce the closing of an investment in IMRIS Imaging, Inc. (“IMRIS” or the “Company”), providing subordinated debt and an equity co-investment alongside Ocean Avenue Capital Partners and Bell Bank to support the recapitalization of the Company by Grovecourt Capital Partners.

Founded in 2005 and headquartered in Chaska, Minnesota, IMRIS is the leading provider of intraoperative MRI systems used by hospitals and cancer centers worldwide.  The Company’s proprietary, patented technology allows the MRI machine to glide seamlessly along a ceiling-mounted rail system between diagnostic and operating rooms, enabling neurosurgeons to take images during surgery that help to drive superior patient outcomes and avoid repeat procedures.  IMRIS designs, integrates, and installs the systems and services and maintains them once in place.  It is estimated that over 70,000 patients worldwide have benefited from the image-guided therapy solutions provided by IMRIS.

“We’re excited to partner with Grovecourt and the IMRIS team," said Rob Hagerty, Partner at Farragut.  “IMRIS is an innovator in its space, and aside from being an attractive investment opportunity it’s rewarding to be involved with a company that contributes meaningfully to better patient results.”

For more information on IMRIS, please visit www.imris.com.