Tenacore Company Profile

Background

Founded in 2000, Tenacore is a healthcare technology management company specializing in the repair, maintenance, and manufacturing of medical devices. The company's mission is to provide high-quality, cost-effective solutions that enhance the longevity and performance of medical equipment, thereby supporting healthcare facilities in delivering optimal patient care. Tenacore operates across all 50 states in the U.S., serving a diverse clientele that includes hospitals, surgery centers, and independent service organizations (ISOs).

Key Strategic Focus

Tenacore's strategic focus encompasses several core objectives:

Comprehensive Service Offerings: The company provides depot-based repair services for a wide range of medical devices, including patient monitors, infusion pumps, portable ventilators, and telemetry transmitters.

Manufacturing Capabilities: Tenacore manufactures medical devices such as wall suction regulators, flow meters, oxygen blenders, fetal transducers, and SPO₂ sensors.

Geographic Expansion: The company has established service depot distribution centers in Las Vegas, Chicago, and London, enhancing its ability to provide timely services to a broader market.

Strategic Partnerships: Tenacore has formed alliances with organizations like OB Healthcare to offer integrated on-site project support, service, and repair solutions, thereby expanding its service capabilities.

Financials and Funding

In February 2020, Tenacore was acquired by an investor group led by The Courtney Group, Incorporated, with participation from Centerfield Capital Partners. The acquisition aimed to support Tenacore's growth initiatives, including geographic expansion and enhancement of service offerings.

Pipeline Development

Tenacore continually expands its product and service offerings based on customer needs and market demands. The company has developed and launched various medical devices, including fetal transducers and SPO₂ sensors, and has plans to introduce additional products such as flexible fetal ultrasounds.

Technological Platform and Innovation

Tenacore's technological platform is characterized by:

In-House Manufacturing: The company operates clean rooms and utilizes injection molding machines, Swiss screw machines, CNC machines, sonic welders, and pad printing equipment to manufacture medical devices and components.

Quality Management Systems: Tenacore adheres to ISO 13485:2016 certified quality management systems, ensuring that all products and services meet stringent quality standards.

Proprietary Software: In collaboration with partners like OB Healthcare, Tenacore leverages proprietary software technology to execute large-scale projects with speed and accuracy, providing real-time status updates and electronic delivery of service reports.

Leadership Team

Tenacore's leadership team comprises experienced professionals dedicated to driving the company's strategic initiatives:

Riley Van Hofwegen: Appointed as President in February 2023, Van Hofwegen brings over a decade of experience in clinical asset management and has been instrumental in executing the company's strategic growth plan.

James Willett: Serving as Executive Chairman of the Board since February 2023, Willett has led Tenacore through significant growth phases, including the redesign of its quality management system and expansion into new facilities.

Karen Salazar: Promoted to Sales Manager in February 2025, Salazar has been pivotal in enhancing the company's sales leadership and driving growth.

Leadership Changes

In February 2023, Tenacore announced key leadership changes:

James Willett transitioned from CEO to Executive Chairman of the Board.

Riley Van Hofwegen was promoted from Chief Commercial Officer to President.

These changes aim to strengthen the company's strategic direction and operational execution.

Competitor Profile

Market Insights and Dynamics

The medical equipment repair and manufacturing industry is characterized by steady growth, driven by the increasing demand for cost-effective maintenance solutions and the need for high-quality medical devices. Tenacore operates in a competitive landscape with several key players offering similar services.

Competitor Analysis

Tenacore's primary competitors include:

Regulatory & Quality Solutions (R&Q): A medtech services provider focused on compliance and market success.

Propper Manufacturing: Produces disposable medical devices specializing in sterilization monitoring devices and services.

Noor: Provides solutions in healthcare products and lab equipment.

Secure Care Products: Offers electronic monitoring products for patients, residents, staff, visitors, and assets.

These competitors focus on various aspects of medical device manufacturing and services, contributing to a dynamic and competitive market environment.

Strategic Collaborations and Partnerships

Tenacore has engaged in strategic partnerships to enhance its service offerings:

OB Healthcare: In September 2020, Tenacore partnered with OB Healthcare to combine depot-based services with field-based preventive maintenance and project management solutions, offering a comprehensive service package to clients.

College of Biomedical Equipment Technology: In May 2022, Tenacore collaborated with the college to provide training solutions for future healthcare equipment technicians, demonstrating a commitment to industry education and workforce development.

Operational Insights

Tenacore's strategic considerations include:

Market Positioning: By offering both repair services and manufacturing capabilities, Tenacore provides a cost-effective alternative to OEM providers, appealing to healthcare facilities seeking quality and value.

Competitive Advantages: The company's ISO-certified quality management systems, in-house manufacturing, and strategic partnerships position it as a comprehensive solution provider in the medical equipment sector.

Strategic Opportunities and Future Directions

Looking ahead, Tenacore aims to:

Expand Product Lines: Continue developing and launching new medical devices to meet evolving healthcare needs.

Enhance Service Offerings: Strengthen on-site service capabilities through partnerships and technological advancements.

Geographic Growth: Establish additional service centers to improve response times and service coverage.

By leveraging its current strengths and strategic initiatives, Tenacore is well-positioned to achieve its future objectives and maintain a competitive edge in the industry.