Private equity firm HCAP Partners acquires another radiology services provider

HCAP Partners has inked its second radiology acquisition, the San Diego-based private equity firm announced on Wednesday. 

The investment group is doing so through its new imaging platform, Integrated Diagnostic Services, which debuted in March. IDS is adding Community of Nevada Diagnostics, a “leading” mobile imaging outfit.

This comes after HCAP Partners purchased Southern California’s 30-year-old First Choice Mobile Radiology Services in April. Its Nevada addition provides X-rays, ultrasounds and echocardiograms to skilled nursing and long-term care facilities, along with home health and hospice agencies, across Las Vegas and Reno. 

"Community of Nevada Diagnostics has built a reputation for quality care and prompt service," Jessica Kim, MBA, VP of HCAP Partners, said in a July 29 announcement. "This partnership adds meaningful scale to the IDS platform and aligns with the company's mission to improve access, affordability and quality of care across the Western U.S."

The two parties did not disclose terms of the deal. IDS also is adding a team of technologists and sonographers via the purchase, along with Josh Roberts and Larry Blanco, who previously led Community of Nevada Diagnostics and will remain involved in the business. 

“Joining IDS gives us the opportunity to scale our services and be part of something bigger—while continuing to deliver the same high-touch care our partners expect,” Roberts said in the announcement. 

HCAP Partners is executing a “roll-up” strategy to further expand in mobile imaging. It is seeking acquisition targets with between $1,000,000-$30,000,000 in revenue and “strong” senior-care facility relationships. The PE firm sees great promise in the industry, with approximately 30,000 assisted living communities in the U.S., over 1.2 million licensed beds, and a rapidly aging population.