Investor-backed homecare startup acquires another imaging provider, broadening reach in radiology
DispatchHealth—a Denver-based homecare provider backed by investors and Humana—recently acquired another mobile imaging firm as it looks to further expand into radiology, the company announced Wednesday.
Dynamic Mobile Imaging operates across several states in the Midwest and East Coast from Wisconsin down to Georgia. Leaders said the acquisition complements other geographies DispatchHealth added back in April with its purchase of Professional Portable X-Ray.
Altogether, the Denver-based provider now offers ultrasound, radiography and other at-home care across 49 markets in 29 states. DispatchHealth contracts with multiple healthcare insurers who cover more than 150 million lives, and its current trajectory, expects to generate them $2 billion in cost savings by 2023.
“Dynamic Mobile Imaging was founded on the belief that there was a better way to provide imaging services and that was outside of traditional healthcare settings,” Debbie Berger, chief executive of DMI, which is based in Richmond, Virginia, said in a statement. “This strongly shared belief with DispatchHealth and the organization's mission-driven approach to transforming healthcare is one that resonates greatly with our company.”
Earlier this year, DispatchHealth touted the growing popularity of mobile imaging amid the pandemic, with projections estimating homecare demand could hit $293.6 billion by 2026. About 20% of the company’s acute care visits require X-rays or ultrasound. Along with those two, Dynamic Mobile Imaging also offers electrocardiograms, Doppler tests, pacemaker checks and PICC line insertions. DMI’s coverage area includes Virginia, the Carolinas, Georgia, Maryland, the District of Columbia, Delaware, Wisconsin, Indiana, Ohio, Kentucky and Michigan.
DispatchHealth recently partnered with Humana to provide imaging to its health plan members at home. Investors have taken notice, as the provider has raised $200 million in funding, led by Tiger Global Management, with Alta Partners, Echo Health Ventures and Humana also contributing.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.