1315 Capital Acquires Majority Stake in Leading Surplus Medical Equipment Company

Centurion Service Group today announced that 1315 Capital has acquired a majority stake in the company.

Centurion Service Group (Centurion) is the market leader for selling surplus medical equipment and operates the world’s largest medical equipment auction house from its four locations in the United States. Centurion makes it easy for hospitals to manage their medical equipment assets and optimize their spend by monetizing used medical equipment through Centurion’s international marketplace. Medical equipment buyers from around the world acquire quality used medical equipment from the US’s leading hospitals at Centurion’s auctions. This enables hospitals throughout the world to have access to state of the art medical devices for their patients.

The acquisition of Centurion Service Group is intended to further drive focus to the area of medical equipment asset management at hospitals. Edward Chan, Principal at 1315 Capital, explains, “Maximizing the value of medical equipment spend plays a crucial role in helping hospitals provide better care. Centurion is the go-to platform to sell used medical equipment and is best positioned to guide hospitals in developing their asset utilization strategies.”

Erik Tivin, founder and CEO of Centurion, will be guiding his team to take the company to the next level. Erik is eyeing hospital connections to lock in more strategic value: “We can do so much more with our hospital partners to help them manage their medical equipment. Our goal is to add more value; value to hospitals discarding their medical equipment and value to hospitals needing that equipment.”

About 1315 Capital:
1315 Capital provides expansion and growth capital to commercial-stage medical technology, healthcare service, and specialty pharmaceutical companies. The team believes that these investment areas are attractive largely due to numerous niche market sub-segments and business models where high-quality management teams can rapidly grow small platform companies, in a capital efficient way, into large and important businesses that positively impact patients, physicians, and the broader healthcare system.

About Centurion Service Group:
Centurion Service Group has grown to become the largest used medical equipment auction house in the world, with warehouse locations in Chicago, Las Vegas, South Florida, and Dallas. Medical equipment buyers from around the world know to go to Centurion’s auctions for all their hospital equipment purchasing needs including radiology, anesthesia, lab, exam, patient monitoring, cardiology, endoscopy, surgery, instrumentation, disposables, and much more. With over 8,000 pieces of surplus medical equipment sold every month, it’s ideal as a single source for acquiring the wide range of used medical equipment they need and in the quantities they desire.