CMDI

What CMDI does

CMDI (Central Minnesota Diagnostic, Inc.) is a non-profit imaging cooperative founded in 1985 and headquartered in Milaca, Minnesota. The cooperative purchases diagnostic imaging equipment and deploys it across its 95 member-owner hospitals on a fee-per-scan basis, offering modalities that include CT, MRI, mammography, echocardiography, ultrasound, bone densitometry, nuclear medicine, digital radiography, linear accelerator, and PET/CT. CMDI operates 306 imaging systems (a mix of mobile and fixed units) and supports more than 450,000 scans annually through both fully staffed arrangements (where CMDI supplies technologists) and equipment-only arrangements (where the member hospital supplies its own staff). Equipment is sourced from major OEMs including Siemens, GE, and Philips, and CMDI assumes capital risk and after-hours service risk so that hospitals do not face surprise bills for equipment downtime.

The cooperative is owned entirely by its member hospitals, which must be not-for-profit (including city, county, and district ownership); there is no cost to join, and membership is open to both independent and system-based hospitals. Members accumulate equity interests in CMDI based on their pro rata utilization, and 100% of profits are allocated back to members through semi-annual distributions; CMDI reports distributing more than $63.1 million back to members over the past five years. The organization's geographic footprint spans eight states — Minnesota, Wisconsin, Kansas, Missouri, Indiana, Iowa, Nebraska, and North Dakota — with Minnesota accounting for the majority of members. CMDI is led by President & CEO Chad Cooper, who assumed the role in April 2018 after 23 years as a rural hospital CEO, supported by VP of Operations Caity Eggen and a small leadership team.

The business model is fundamentally a capital-preservation service for resource-constrained rural and community hospitals: CMDI front-loads the equipment investment, spreads utilization risk across 95 members, and recoups costs through per-scan fees, with any surplus returned to members rather than to external shareholders. Go-to-market is primarily direct outreach by business development staff to prospective non-profit hospital members, supported by a basic website and contact form; there is no external marketing apparatus and no external funding or parent company, consistent with its cooperative structure.

Name

CMDI

Legal name

Central Minnesota Diagnostic, Inc

Website

https://cmdi.org

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

CMDI is a non-profit imaging cooperative that supplies CT, MRI, mammography, PET/CT, and other diagnostic imaging equipment to 95 member-owner hospitals across 8 U.S. states on a fee-per-scan basis, returning 100% of profits to members.

Ownership category

akta.pro rank

Headquarters

HQ city

Milaca

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Fee Per Scan Revenue: CMDI purchases imaging equipment and provides it to member hospitals on a fee per scan basis. This is a usage-based model where hospitals pay based on scan volume. As a non-profit cooperative, 100% of profits are allocated back to member-owner hospitals through semi-annual equity distributions.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

CMDI is a non-profit imaging cooperative that purchases medical imaging equipment and provides it to its 95 member-owner not-for-profit hospitals on a fee-per-scan basis. Services span CT, MRI, mammography, ultrasound, echocardiography, digital radiography, nuclear medicine, bone densitometry, linear accelerator, and PET/CT modalities delivered via mobile or fixed units with 24/7 service coverage. CMDI assumes capital and after-hours service risk, while 100% of profits are allocated back to member hospitals through semi-annual equity distributions.

Product overview

CMDI is a non-profit imaging cooperative that provides diagnostic imaging equipment and services exclusively to 95 member-owner hospitals. The offering consists of multiple imaging service modalities including CT, MRI, Mammography, Echocardiography, Ultrasound, Bone Densitometry, Nuclear Medicine, Digital Radiography, Linear Accelerator, and PET/CT scanning. CMDI operates both mobile units (traveling between hospitals) and fixed installations, with services delivered either as fully staffed solutions with CMDI technicians or as equipment-only arrangements. Equipment is provided on a fee-per-scan basis with 24/7 service coverage included. The cooperative structure ensures 100% of profits are allocated back to member hospitals rather than third-party financing entities.

Differentiator

Problem solved

Functional benefit

Products and services

• Computerized Tomography (CT) Imaging Service

Quantifiable outcome

• Over $63.1 million distributed back to member-owner hospitals in the past 5 years
• +2 more outcomes

Named customers11 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Others

• Vizient: Largest U.S. healthcare performance improvement company and group purchasing organization (GPO) serving non-profit hospitals. Comparable in the non-profit hospital member base and the role of aggregating hospital demand for imaging equipment and services, though Vizient is a broader GPO rather than an imaging specialist.

Broad incumbents

• Hologic: Manufacturer of mammography systems, breast biopsy, and women's health imaging equipment. Incumbent relevant to CMDI's 61 deployed mammography systems and the broader breast imaging category.
• GE HealthCare: Global medical imaging, ultrasound, and life sciences equipment manufacturer supplying MRI, CT, PET, and X-ray systems to CMDI. Incumbent that competes for hospital imaging equipment and service contracts at the OEM level.
• Siemens Healthineers: Global medical imaging equipment manufacturer that supplies CT, MRI, ultrasound, and X-ray systems to CMDI. Relevant incumbent because it could vertically integrate into imaging services or directly compete with hospital imaging contracts on a global scale.
• Philips Healthcare: Global medical imaging equipment manufacturer supplying MRI, CT, ultrasound, and image-guided therapy systems to CMDI. Incumbent that competes for hospital imaging equipment contracts and increasingly offers managed services and service-only models.

Direct peers

• Akumin: Operator of outpatient diagnostic imaging centers including MRI, CT, PET/CT, ultrasound, and X-ray. Comparable as a diagnostic imaging services provider, though Akumin operates standalone centers while CMDI delivers imaging inside member hospitals.
• Shared Medical Services: Provides mobile diagnostic imaging services (MRI, CT, PET/CT) to hospitals and healthcare providers on a per-scan or contracted basis. Closest comparable in the mobile imaging deployment model that CMDI uses to serve rural and mid-market hospitals.
• Agiliti Health: Outsourced medical equipment management and clinical engineering services to hospitals and health systems. Comparable in the model of assuming capital and service risk on behalf of hospitals, though CMDI focuses narrowly on imaging rather than broader medical equipment.
• RAYUS Radiology: National diagnostic imaging network with 150+ centers across the U.S. offering MRI, CT, PET/CT, mammography, and image-guided procedures. Comparable in the focus on multi-modality diagnostic imaging services delivered to healthcare providers and patients.
• SimonMed Imaging: One of the largest outpatient diagnostic imaging networks in the U.S., operating 170+ centers across multiple states. Comparable in the multi-modality imaging services focus (CT, MRI, mammography, ultrasound, PET/CT) and the operating model of deploying shared equipment across multiple sites.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/central-diagnostics-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CMDI