Solis Mammography, which calls itself the “nation’s largest independent provider of specialized breast health services,” is getting even bigger by acquiring a network of imaging centers.
The private equity-backed group is buying Carolina Breast Imaging, which has three locations in eastern North Carolina, leaders said Thursday. Based in Addison, Texas, Solis Mammography operates over 100 centers in 13 major markets, spanning its home state, Arizona, Colorado, Florida, Maryland, Ohio, Pennsylvania, Tennessee, Virginia and D.C.
“Our philosophy of care is centered around delivering an exceptional experience,” Solis President and CEO Grant Davies said in an Aug. 24 announcement. “As we build on Carolina Breast Imaging’s strong foundation with expanded access in the region, that will not change.”
Carolina Breast Imaging has been around for a decade, employing a team of fellowship-trained physicians led by radiologist and owner Bruce Schroeder, MD, and focused solely on the subspecialty. Solis said the acquisition will allow it to extend the reach of CBI’s services to communities throughout North Carolina. Currently, the organization has locations in the cities of Greenville, Goldsboro and Wilson.
“Solis Mammography's record of building accessible networks of community-based women’s imaging centers will ensure that more women have access to leading-edge breast health services across the state,” the company said in its announcement.
Solis was founded in 1986 and in 2018 sold a majority stake to private equity firm Madison Dearborn Capital Partners, which has rapidly expanded the imaging group since then. Moody’s Investor Service said two years ago that Solis and MDCP may face risk in executing their debt-supported growth strategy, given elevated leverage and a narrow focus on one modality. Madison Dearborn Capital Partners estimated Solis had 50 locations at the time of the buyout, with its center total doubling in the five years since.
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.