Advanced Ultrasound plots growth after buying Mingo Trade Center

TULSA – Advanced Ultrasound Electronics has doubled its size with the $2.17 million acquisition of Tulsa’s Mingo Trade Center.

“We should be 100-percent unpacked within the week,” said President John Hryschuk,whose 18-employee firm is moving its Tulsa headquarters into 18,000 square feet at the 9522 E. 47th Pl. business park.

He projects double-digit revenue growth from several expanded revenue streams available through this building purchase.

“Over the last few years we’ve grown like crazy,” Hryschuk said, declining to disclose actual sales. “We effectively tripled from three years ago. We’re looking to do 10 to 20 percent more this year.”

From its former 9,000-square-foot base, the 13-year-old Tulsa firm built a third-party repair business serving medical ultrasound equipment users in the 48 continental states as well as Canada, Europe, Asia and South America.

Relocating into the heart of the U-shaped Mingo Trade Center provides space for Advanced Ultrasound to double its $2 million parts inventory, Hryschuk said, which the firm intends to do. It also provides more elbow room for testing and repairing system parts.

“One of the things we strive for is the quality of the part,” he said. “We started out as a repair facility and then we kind of grew from there into stocking the different machines. What we try to do is target the most desirable machines so that if anyone needs parts, probes, anything for the machine, we can provide that for them, along with the technical expertise on how to install or troubleshoot the part.”

Expanding the inventory will allow Advanced Electronics to provide more alternatives, or ship out temporary parts, for customers with more extensive repair needs.

The new headquarters also enables the Tulsa firm to offer depot repair services, expand into portable ultrasound device repairs, and launch training services.

“We’re developing a course outline right now,” he said, projecting that classes for both users and repairers could begin in May or June. “We’ll get people from all over the U.S. And maybe overseas. There’s some interest overseas for training.”

The inventory expansion should help the firm boost its international business, said Marketing Director Henry Dinneen. He also anticipates carving out more business among veterinarians.

“They’re doing more and more sophisticated procedures and surgeries than ever before,” Dinneen said.

According to Tulsa County assessor records, Advanced Ultrasound acquired the 41,041-square-foot building in December. Hryschuk estimated interior renovation costs at $250,000 so far, with the build-out by Tulsa contractor National Construction Services not quite complete.

“We’ve always wanted to get our own building,” Hryschuk said. “This one just fit our needs and it was perfect for what we wanted it for.”

With three tenants occupying nearly half the 31-year-old office building, Advanced Ultrasound’s move leaves Mingo Trade Center with about 4,000 square feet of vacant space.

“We’re trying to lease it out, but that’s also for future growth needs,” Hryschuk said.