INDIANAPOLIS, April 7, 2026 /PRNewswire/ — Modular Devices today announces the appointment of Steve Richter as Chief Executive Officer, responsible for overseeing enterprise-wide strategy, integration, performance, and alignment across the organization.

Richter brings nearly 30 years of experience in mobile imaging solutions and healthcare services, including senior leadership roles at Philips, CDI (now Rayus Radiology), and Probo Medical. Most recently, Steve served as President and General Manager of Esoate North America where he drove strategic growth for the organization.

Richter was the founder of Transcend Imaging, which was acquired by Modular Devices in 2025. Since that time, he has served as an advisor to the organization. In his new role, Richter will leverage his wholistic perspective to amplify and scale the organization’s capabilities.

As part of the new leadership structure, Mark Koers has transitioned into the role of President, Imaging and Healthcare Solutions for Modular Devices, where he will focus on driving continued performance, operational excellence, and growth of our mobile and modular imaging and mobile cleanroom businesses. Koers has been a member of the Modular Devices team since 2007.

“I’m excited to step into the role of CEO at such an important time in Modular Devices’ history,” said Richter. “I’d like to thank Mark Koers for the strong foundation he’s built, and I look forward to working alongside the team to further strengthen alignment across our businesses and continue driving growth across the platform.”

Transitioning for Growth

This new leadership structure is designed to support Modular Devices’ continued expansion and operational maturity. The company has experienced significant progress in recent years through both organic growth and strategic acquisitions across the healthcare imaging and cleanrooms industries.

Today, the company’s portfolio includes:

“Steve’s experience across the industry and his deep understanding of our growth objectives make him uniquely suited to lead this next phase of organizational growth,” said Pat Corden, Partner at O2 Investment Partners. “I’m excited to welcome him into his new position and to work alongside him as we continue to grow Modular Devices and build on the strong foundation we’ve created.”

For more information about Modular Devices and its family of companies, visit Modulardevices.com.

About Modular Devices

Modular Devices is the leading provider of mobile medical imaging and modular cleanroom solutions, delivering turnkey, code-compliant facilities to hospital and healthcare facilities, life sciences, advanced manufacturing, and other highly regulated industries. With more than 35 years of experience, Modular Devices and its family of companies offer mobile and modular healthcare imaging solutions and regulatory-compliant cleanrooms that can be rapidly deployed, validated, and operational in days. Backed by in-house engineering, design, manufacturing, and installation teams, Modular Devices helps clients overcome infrastructure challenges with reliable, flexible, and customer-focused solutions that ensure continuity of care and compliance without the delays of traditional construction. For more information, visit Modulardevices.com. Follow us on LinkedIn.

About O2 Investment Partners

O2 Investment Partners is a Midwestern-based private equity firm that seeks to invest in lower middle-market niche services, technology, and select industrial companies. The firm invests in businesses with earnings growth potential and a clear path to creating shareholder value. O2 invests to partner with management to build and grow the business and take it to its next stage of development. This requires a clear vision and strategic plan to create shareholder value, close partnership, and alignment of interest with management. Additional information is available at www.o2investment.com.

Media Contact:
Katie Kiley Brown
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