HCAP Partners Announces the First Acquisition of Integrated Diagnostic Services with the Close of First Choice Mobile Radiology
Strategic acquisition strengthens platform’s mission to expand access to mobile diagnostics across the Western U.S.
SAN DIEGO, CA (April 22, 2025) – HCAP Partners, a California-based private equity firm and nationally recognized impact investor, today announced the first acquisition under its new imaging platform, Integrated Diagnostic Services (IDS), with the purchase of First Choice Mobile Radiology Services, LLC (“FCMR”), a leading Southern California provider of mobile X-ray, ultrasound, EKG, and echocardiogram services. Terms of the investment were not disclosed.
This acquisition follows HCAP Partners’ March 2025 launch of IDS, which was created to expand access to mobile diagnostics for senior care and home health populations. FCMR has a well-established presence in the market and serves skilled nursing facilities (SNFs), long-term care facilities (LTCFs), and home health and hospice agencies. Its seasoned team of licensed x-ray technologists and sonographers deliver bedside imaging services in fully equipped mobile units—eliminating the need for patient transportation, reducing cost, and improving healthcare outcomes through faster care.
“We’re proud to welcome First Choice Mobile Radiology into the IDS family,” said Kelly McCullum, CEO of Integrated Diagnostic Services. “Kurt and his team have built a solid, trusted business, and this acquisition is an important step in expanding access and strengthening mobile diagnostics for aging and home-based populations.”
“There is a significant opportunity to improve how diagnostics are delivered across senior care and home health settings by building a high-quality, differentiated platform,” said Hope Mago, Partner at HCAP Partners. “We formed IDS with the belief that we could help reshape access to care—and with the close of FCMR, we’re taking that vision forward.”
FCMR is the first of several anticipated acquisitions designed to build a regional platform of high-performing mobile diagnostic providers. By expanding its geographic footprint and enhancing access to timely diagnostics, IDS aims to deliver better outcomes for patients and providers alike. As the platform grows, IDS remains committed to creating high-quality jobs for its distributed workforce in alignment with HCAP Partners’ Gainful Jobs Approach™—ensuring its workforce is as strong and responsive as the care it provides.
“Joining IDS is a great next step for First Choice,” said Kurt Stewart, founder of FCMR. “We’ve spent years building strong relationships and delivering care where it’s needed most. This partnership gives us the opportunity to reach more patients and continue raising the bar for mobile imaging.”
The transaction was led by Hope Mago and Jessica Kim of HCAP Partners. Kurt Stewart, founder of FCMR, will continue to support the business through its next phase of growth as President of Operations. Integrated Diagnostic Services is led by industry veterans Kelly McCullum and Rick Navarro.
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. HCAP Partners has invested in over 60 companies since its founding and, through active engagement with portfolio companies, provides value-added resources to help optimize performance and increase enterprise value. The firm has been an Impact Assets 50 fund since 2014 and, through its Gainful Jobs Approach™, works to facilitate a positive impact on underserved businesses, their employees, and their communities. For more information, please visit www.hcap.com.
