There has been almost endless debate over the last few years on this topic (see earlier - and current - threads).
If you spend a bit of time on line you will find there are a number of modern systems available, mainly originating from the USA. But as to whether or not they would suit your needs ... well, only you could say.
I thought I had taken a look at CWfree, but can't seem to find it on any of my machines at the moment - which is probably an indication that I looked at it, then discarded it for some reason.
As has been said on a number of previous occasions, you really need to sit down and work out exactly what it is you require the system(s) to do.
When you say "we", do you mean a group of hospitals, a biomed servicing company, or what? And when you say "reasonable cost", what do you mean ... cheap? Nothing at all? The reason I ask is that (if funds are really tight, but an enthusiasm yet remains), some form of collaboration with people who get on this forum could be a possibility. This has met with some success in the past.
Frankly, of the commercial systems about which I have come to know the ballpark pricing (and I must say that I regard the reticence that suppliers have about mentioning price is indicative of what I am about to say) ... the costs involved in implementing the well known packages verges on a
gouge as far as I'm concerned! That is, they are over-priced.
Unfortunately I am not a man of means myself (that is, I'm skint), or else I would love to purchase all the available systems (yes, sad I know, but they
are interesting toys). Then I would be able to offer "chapter and verse" on the pros and cons of the various packages. But, because they are so darned expensive, I can't see that happening anytime soon.
However, some of the suppliers have some nice looking demo packages available (again, check out the web).
To be honest, the only software I am aware of that includes Risk-based PM scheduling as well as all the traditional stuff needed for tech support of kit (parts routines and all the rest) ... and yet still costs nothing to buy, is the stuff I write myself!

Lastly, if the set up you have there is sufficiently proportioned and resourced, why not have a guy come on board (perhaps he is already there among you) and assign him the task of designing and implementing your own system. One you can all agree upon, and exactly tailored to your needs. Keep the thing "open plan" (that is, using your own code running on a database manager platform ... rather than off the shelf "locked" - compiled - code that you can't access to fiddle about with). That would be by the far the best way of going about things, in my opinion.