Private equity-backed Solis Mammography touts latest center acquisition
Private equity-backed radiology provider Solis Mammography announced its latest imaging center acquisition on Tuesday.
The Addison, Texas-based organization is purchasing the Mammography and Ultrasound Imaging Center (or “MUSIC”) in Gainesville, Florida, adding to its growing number of locations. Founded over a decade ago, MUSIC employs two radiologists, offering mammography, ultrasound and bone density scans in a “tranquil office setting,” according to its website.
The acquisition balloons Solis Mammography’s imaging center total to 130 across 18 markets in Texas, Utah, Colorado, Arizona, Pennsylvania, Ohio, Tennessee, North Carolina and Florida. It also operates in D.C., Maryland and Virginia via the 2021 acquisition of affiliated brands Washington Radiology and Progressive Radiology.
“Gainesville is a dynamic and rapidly growing market,” Grant Davies, president and CEO of Solis, said in a May 28 announcement. "As we build on MUSIC's strong foundation, we want to enhance patient access to leading-edge health and wellness services, particularly in the area of breast imaging.”
Solis Mammography was founded in 1986 and in 2018 sold a majority stake to Chicago private equity firm Madison Dearborn Capital Partners, which has rapidly expanded the imaging group since then. MDCP estimated Solis had 50 locations at the time of the buyout, with its center total growing 160% since then. The company offers women a “boutique-style retail healthcare experience.” This includes a “high-touch, patient-centric approach” that engages women in their own breast health, “driving awareness, increasing compliance and improving early detection through an innovation-driven screening platform.”
In April, Solis inked a joint venture deal with Northwest Healthcare to expand imaging offerings in the Tucson, Arizona, region. The firm also partnered with Memorial Healthcare System last month, opening screening centers across the South Florida communities of Weston, Plantation and Hialeah.
“MUSIC's legacy of providing specialized expertise in a caring and compassionate setting makes it a natural fit in the Solis Mammography family of innovative wellness and diagnostic imaging centers,” Solis said in Tuesday’s announcement.
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.