Private equity-backed Solis Mammography acquires another radiology practice
Private equity-backed Solis Mammography is acquiring another radiology group, the company announced on Wednesday.
“The nation's largest independent provider of specialized breast health services” is adding Breast Center of Acadiana and its two locations in the southern Louisiana communities of Lafayette and Youngsville. This marks Addison, Texas-based Solis Mammography’s 18th major market, with the organization now operating 135 centers.
"South Louisiana is a vibrant and economically robust region," Grant Davies, president and CEO of Solis, said in an Oct. 9 announcement. "We're looking forward to building on Breast Center of Acadiana's legacy of quality care by expanding access to state-of-the-art imaging and our suite of innovative clinical advancements.”
Radiologist Gary Mathews, MD, established the practice in 2008 and has developed a reputation as one of Cajun Country’s “most skilled and trusted” physicians in breast imaging. He has interpreted over 200,000 mammograms, performed 4,700 image-guided procedures and diagnosed 2,000-plus cancer cases alongside radiologist Chet Coles, MD, and a “stellar team” of techs and support staff.
“I decided to dedicate my practice and career to the field of breast imaging and diagnosis in order to provide women of Acadiana with cutting edge, timely and individualized care they deserve and, thereby, bring them peace of mind,” Matthews said on the practice’s website.
Solis Mammography did not disclose terms of the deal. The company 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 170% 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.”
Solis acquired the Mammography and Ultrasound Imaging Center (MUSIC) of Gainesville, Florida, in May and in April it inked a joint venture with Northwest Healthcare to expand imaging offerings around Tucson, Arizona. The firm also partnered with Memorial Healthcare System earlier this year, opening screening centers across the South Florida communities of Weston, Plantation and Hialeah. Affiliated brands include Washington Radiology and Progressive Radiology, which were acquired in a previous M&A deal.
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.