Fairfax Radiology adds 2 new locations, 15 physicians in M&A deal
Fairfax Radiology Centers in Virginia is adding two outpatient imaging centers and 15 physicians following a recently agreed-upon merger deal.
The practice plans to purchase the Association of Alexandria Radiologists, located about 30 minutes east, with the acquisition to take effect in January. Fairfax Radiology said the move will pave the way for expansion and allow the practice to provide a single standard of care for the entire Falls Church-based Inova Health System.
“This move will enhance our core service and expand our share in the northern Virginia radiology market,” Fairfax Radiology CEO Lance Boyd said in a Nov. 14 announcement. “The healthcare community, and more important, the patients we serve, will benefit by our joining forces,” he added later.
Fairfax labeled the strategic acquisition as a “major milestone,” strengthening the practice’s position as the largest subspecialized radiology group in its market. Following the deal, the business will employ 115-plus trained physicians. Association of Alexandria Radiologists plans to rebrand as Fairfax Radiology Centers at its two centers in Woodbridge and Alexandria.
Physicians first established the practice in 2020 as a joint venture between Fairfax Radiological Consultants, P.C., and Inova/Radiology Imaging Associates. The company bills itself as the largest radiology practice in the Washington metro area, servicing locations throughout northern Virginia.
Alexandria Radiologists, meanwhile, was first established by a group of local physicians in 1970.
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.