This paper discusses the analysis, design and experimental validation of a Modular Isolated Matrix Converter (MIMC), including modulation, commutation and control. The MIMC topology is a single-stage high power density AC/AC converter which is attractive for traction applications and spacerestricted LV or MV future distribution networks. The topology under study utilises bi-directional switches based dual-activebridge cells as basic building blocks. A single-cell would have limited practical application as the output frequency is locked to the input one. On the contrary, the repetition of single cells proposed in the MIMC extending the matrix converter concept, achieves variable frequency operation while also providing a modular structure. However, the presence of Medium Frequency (MF) transformers in each cell poses additional challenges for modulation and safe-commutation that are discussed and solved in the paper. Experimental results from a proof-of-concept 6kW laboratory scale prototype validate the practical feasibility and the operation of the MIMC.