Private equity-backed Premier Radiology Services acquires rival remote-reading group
Private equity-backed Premier Radiology Services is acquiring a rival remote-reading group, the two announced Thursday.
Founded in 1999, NationalRad is a “leading” provider of subspecialized teleradiology services. The Deerfield Beach, Florida-based physician group’s client list includes outpatient imaging centers, orthopedic practices, university healthcare systems and professional sports teams.
Terms of the deal were not disclosed, but Premier Radiology said in an announcement that the acquisition will allow it to increase clinical capacity and diversify service offerings.
“National Radiology Associates has developed an exceptional customer base of some of the most respected orthopedics practices and outpatient imaging centers in the United States,” Premier CEO Drew Gaudet said Feb. 8. “Supported by a world-class network of subspecialty radiologists, NationalRad has demonstrated a remarkable track record of targeted and intentional growth and improved outcomes.”
Radiologists Michael Zlatkin, MD, Cary Hoffman, MD, and Gary Felsberg, MD, founded the company, which was originally named NMSI (National Musculoskeletal Imaging). Timothy Sanders, MD, joined in 2003 as a fourth partner, with the practice changing its name to NationalRad in 2009 to reflect the addition of neuroradiology services, according to its website. The organization today employs about a dozen physicians, servicing 125-plus clients.
“With this partnership, NationalRad is poised to grow while remaining focused on fulfilling our mission of delivering first-rate patient care and subspecialized teleradiology services,” Zlatkin said in the announcement.
Meanwhile, Gaudet and colleagues founded Premier Radiology in 2006, today employing about 100 radiologists interpreting 2 million images per year. Private equity firm Grovecourt Capital Partners acquired the practice in June with plans for expansion. Earlier this week, Premier Radiology Services also inked a long-term partnership with Concentra, the nation’s largest occupational health provider.
The company is unaffiliated with Nashville-based Premier Radiology, one of the largest outpatient diagnostic imaging networks in Tennessee, with more than 20 locations across the state.
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.