HCAP Partners Announces Follow-On Acquisition for Integrated Diagnostic Services (IDS) with the Addition of Core Analytics Lab & Radiology

Acquisition expands IDS' California footprint and adds mobile laboratory diagnostics to strengthen bundled care delivery.

SAN DIEGO, Jan. 13, 2026 /PRNewswire/ -- HCAP Partners, a California-based private equity firm and nationally recognized impact investor, today announced a follow-on acquisition for its Integrated Diagnostic Services (IDS) platform with the addition of Core Analytics Lab & Radiology (Core), a leading provider of mobile radiology and laboratory services across California.

The acquisition expands IDS' presence into Northern California, strengthens market density statewide, and adds mobile laboratory diagnostics to the platform's service offerings. The combined platform delivers bundled mobile radiology and lab services to skilled nursing facilities (SNFs), long-term care facilities (LTCFs), and home health and hospice providers, supporting timely, cost-effective care delivered directly at the point of need.

Founded in 2016, Core is a leading provider of mobile radiology and laboratory services in California, serving more than 300 facilities statewide. Core's addition expands IDS' capabilities by integrating mobile laboratory services and supporting more comprehensive, bundled diagnostics across the platform. Core was led by Shruty Parti and Carlos Ruiz, who will remain involved following the acquisition. Post-transaction, IDS will be serving 440+ facilities.

Financing for the transaction was provided by HCAP Partners, California Bank & Trust, with co-investment from St. Cloud Capital and Southfield Mezzanine. Proceeds will support the acquisition and continued platform growth, including service integration, operational scaling, and broader expansion initiatives.

"This acquisition supports our thesis around partnering with experienced executives focused on quality, timely care for seniors," said Jessica Kim, Vice President at HCAP Partners. "We look forward to working with Shruty Parti, Carlos Ruiz, and the Core team."

"Joining IDS allows us to expand the reach of our services while maintaining the operational standards our facility partners rely on," said Shruty Parti, President of Core Analytics Lab & Radiology. "The ability to offer integrated radiology and laboratory services creates a more seamless experience for providers and patients alike."

Kelly McCullum, CEO of IDS, added, "Core meaningfully strengthens our platform by adding in-house laboratory capabilities and expanding our coverage across California. This combination improves route density, responsiveness, and our ability to deliver bundled services at scale, enabling us to offer the best of both worlds."

Peter Drees, California Bank & Trust Managing Director, Specialty Finance, commented, "IDS continues to execute a clear, well-structured growth strategy, and we are pleased to support this transaction and the continued expansion of the platform."

The transaction was led by Hope Mago and Jessica Kim of HCAP Partners, with support from California Bank & Trust, St. Cloud Capital and Southfield Mezzanine. IDS continues to actively pursue acquisition opportunities to further expand its reach and impact across the Western U.S.

About HCAP Partners
HCAP Partners is a private equity firm specializing in providing mezzanine debt and private equity for underserved, lower-middle market companies throughout the United States. The firm seeks to invest $5 million to $35 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. Since its founding, HCAP Partners has invested in over 65 companies and, through active engagement with portfolio companies, provides value-added resources to help optimize performance and increase enterprise value. The firm has a strong history as an impact fund, recognized as an ImpactAssets 50 fund every year since 2014, and is a founding member of both the Global Impact Investing Network and Impact Capital Managers. Through its Gainful Jobs Approach™, HCAP Partners works to facilitate a positive impact on underserved businesses, their employees, and their communities. For more information, please visit www.hcap.com.

About Integrated Diagnostic Services
Integrated Diagnostic Services (IDS) is a mobile diagnostics company building a network of high-performing providers to expand access to timely, efficient, and high-quality diagnostic care. IDS delivers mobile X-ray, ultrasound, EKG, echocardiogram, and laboratory services to skilled nursing facilities, long-term care communities, and home health providers. Learn more at www.integrateddxservices.com.

About California Bank & Trust (CB&T)
Headquartered in San Diego, California Bank & Trust has been helping California families and businesses thrive for over 70 years. With local decision-making backed by regional strength, CB&T's knowledgeable bankers provide personalized solutions that go beyond what traditional banks offer.

Contact:
Hope Mago
HCAP Partners
[email protected]
(858) 259-7654

SOURCE HCAP Partners