Imaging solutions provider Captive Radiology scores private equity investment

Imaging solutions provider Captive Radiology has scored a key growth investment from private equity. 

RC Capital said Wednesday that it’s investing in the North Canton, Ohio-based radiology vendor as it pursues nationwide expansion. Founded in 2003, Captive Radiology offers turnkey imaging solutions to hospitals and physician groups, currently operating 30 imaging partnerships across 20 states. 

Captive Radiology said the investment comes while it’s seeing increasing demand for diagnostic imaging, particularly in the “emerging theranostic space.” The company recently has expanded into PET-CT imaging for prostate cancer detection and monitoring, along with other “critical applications” in additional medical specialties. 

"We've experienced tremendous growth over the past several years, and this partnership with RC positions us to meet the demand from even more healthcare partners and their patients," Dave Kelly, CEO of Captive Radiology, said in a statement May 27. "RC Capital shares our commitment to improving patient outcomes through better access to diagnostic imaging.”

Captive Radiology said it offers hospital and physician clients imaging solutions including project and

 operations management, staffing, quality assurance and equipment. In one recent partnership, Captive teamed with Urology of Indiana in 2024, helping the Indianapolis urologist group roll out a mobile PET-CT scanner for prostate cancer. Other partners include Urology Austin, Virginia Urology, the four-hospital Adena Health System, and the OrthoUnited orthopedic group, with the latter two located in Ohio. Along with PET-CT and MRI, Captive Radiology providers other advanced diagnostic imaging and theranostic services, with a mission to “improve partners’ ability to diagnose and treat patients.” 

CEO Kelly—who will continue as owner and leader of the business—said Captive will use the funds to accelerate expansion and enhance service capabilities. He highlighted RC Capital’s “deep healthcare expertise” and “growth focus approach,” making the Cincinnati investment firm an “ideal partner as we enter this exciting new chapter.” RC Capital has raised over $1 billion since its founding 30 years ago, with other investments including AlignedCardio, Bolder Surgical, Endodontic Practice Partners, and SurgiQuest. 

“Healthcare providers increasingly need long-term partners who can deliver these [radiology] solutions quickly and efficiently,” Vitaly Goldfeder, MBA, principal of RC Capital, said in a statement. “Captive Radiology's full-service model is accelerating access to innovative theranostic modalities that are becoming the standard of care across more areas of the healthcare ecosystem. We look forward to working with Dave and the entire Captive Radiology team to accelerate growth across the country.”