Radiology Partners to acquire Mednax Radiology Solutions for $885M
Imaging industry giant Radiology Partners is about to get even bigger, with plans to acquire Mednax Radiology Solutions, the two announced Thursday morning.
The transaction is worth approximately $885 million and will combine two of the largest players in the business.
“This is a milestone day,” Rich Whitney, CEO of El Segundo, California-based Radiology Partners, said in a statement. “The Mednax radiology practices are among the best in the country, and we are excited to welcome so many outstanding radiologists and physician leaders to our practice,” he added later.
Both boards have already unanimously approved the acquisition. When it is complete, Rad Partners will add 800 additional physicians to its already sizable total of 1,600. Those include 300 onsite radiologists—primarily operating in Connecticut, Florida, Nevada, Tennessee and Texas—along with more than 500 teleradiologists serving in all 50 states.
“Combining our expertise, experience and infrastructure will enable us to create new pathways for innovation that we can bring to our patients and our clients. I could not be more excited about the new home for our physicians and staff,” Ricardo Cury, MD, chief medical officer of Mednax Radiology Solutions, said in a statement.
Florida-based Mednax first announced plans to sell its radiology business line back in June to focus on its core businesses in pediatrics and obstetrics.
For more on this story, read our Q&A with members of the Rad Partners C-suite here.
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.