Private equity-backed Capitol Imaging expands to new state, acquiring 9 outpatient centers
Private equity-backed Capitol Imaging is expanding into its sixth state by acquiring nine additional outpatient centers, the company announced Tuesday.
The Metairie, Louisiana, radiology group is buying Outpatient Imaging LLC for an undisclosed sum, adding multimodality locations across Statesboro, Georgia, and greater Atlanta. Since partnering with Clearview Capital in 2020, the imaging outfit has grown its location count from 20 to 57 across Texas, Louisiana, Alabama, Mississippi, Florida, and Georgia.
“We have known [Outpatient Imaging] for several years now and the great reputation they have in the greater Atlanta market and Statesboro,” John Stagg, CEO of Capitol Imaging, said in a statement June 3. “We hope to expand on that reputation and help grow the Georgia and Atlanta market even further to take care of our patients.”
Outpatient Imaging centers offer services including MRI, CT, ultrasound, mammography and X-ray, delivered in accessible freestanding settings. Capitol Imaging—which is concentrated in the Gulf South—said it was attracted to Atlanta, the region’s largest and fastest growing metro. The city represents an “attractive entry point into Georgia,” with “strong long-term demand” for imaging.
“We think there is tremendous potential for additional expansion in the company’s current and adjacent markets and are excited to continue supporting the Capitol Imaging platform in its growth,” Geoff Faux, partner of Stamford, Connecticut-based Clearview Capital, said in the announcement.
Capitol Imaging is a platform investment of the Clearview Capital Fund IV, a $550 million commitment secured in 2018. The company acquired Houston MRI & Diagnostic Imaging and its seven centers in January and Houston Premier Radiology Center and Alliance MRI, a total of 10 more centers, in 2023.
Leaders said they continue to seek imaging center acquisition opportunities in the Gulf South. You can find the full list of Outpatient Imaging locations here. The two sides closed the transaction on April 15.
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.