Private equity-backed Capitol Imaging acquires 2 radiology groups spanning 10 locations

Metairie, Louisiana-based Capitol Imaging is buying up two radiology groups, its private equity backer announced on Thursday.

The acquisitions include the Houston Premier Radiology Center and Alliance MRI, which combined span 10 locations around Texas’ largest city. Clearview Capital said key leaders will remain with the broader platform company following the deals, which closed in February and May, respectively.

The Stamford, Connecticut-based private equity firm first funded Capitol Imaging in October 2020, spending $550 million to help it “recapitalize.” At the time, it had 20 locations in two states, but has doubled since the deal, with 40 facilities across Louisiana, Texas, Alabama, Mississippi and Florida.

“It has been an exciting start to the partnership with the Capitol Imaging team, helping to build the company into one of the largest outpatient imaging platforms in the Gulf South region,” Geoff Faux, partner of Clearview Capital, said in a June 15 announcement. “In keeping with Clearview’s value creation approach, we will continue to build on this foundation by pursuing acquisitive and organic growth initiatives to further expand the company’s presence in its current and additional markets.”

Capitol Imaging and Clearview Capital said they’re openly seeking additional outpatient imaging centers to acquire. They urged interested practices to contact the private equity firm’s business development team.

“We see significant opportunities to further accelerate our growth, both in Greater Houston as one of the fastest growing cities in the U.S. and elsewhere in the Gulf South region,” Capitol Imaging CEO John Stagg said in the announcement. “We look forward to bringing our screening and diagnostic testing services to even more patients as we continue our expansion.”