Lumexa Imaging expands into Illinois with new joint venture
Publicly traded radiology provider Lumexa Imaging is expanding into Illinois with a new joint venture partnership.
The Raleigh, North Carolina-based radiology group has inked deal with Advocate Health, the largest hospital system in the Land of Lincoln. Lumexa said the agreement builds on their existing partnership and will mark its first foray into Illinois.
This is Lumexa Imaging’s 10th hospital joint venture partnership across nine different health systems. The organization said it continues to seek ways to grow its presence in “attractive healthcare markets” while bringing convenient care closer to patients and referring providers.
“Expanding our relationship with Advocate Health into Illinois is an important milestone for our company,” Lumexa Imaging CEO Caitlin Zulla said in a statement Nov. 12. “Our demonstrated success partnering with health systems is a key differentiator as health systems look to expand their outpatient imaging capabilities and participate in the shift toward lower-cost settings.”
The announcement comes after Lumexa also announced its third quarter earnings results on Nov. 10. It notched revenue of nearly $272 million for the quarter, with systemwide sales up almost 8% year over year, reflecting continued growth in diagnostic imaging services.
Lumexa—which formerly went by US Radiology Specialists—now operates approximately 190 outpatient imaging centers, handling 4 million procedures annually.
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.