vRad Joins Radiology Partners
Combined expertise and experience brings opportunity for unmatched innovation and clinical value to radiology
EL SEGUNDO, Calif., December 16, 2020 — Radiology Partners (RP), the leading radiology practice in the U.S., today announced the completion of its acquisition of MEDNAX Radiology Solutions, a division of MEDNAX, Inc. (NYSE: MD), in a transaction valued at approximately $885 million. Following all necessary regulatory approvals—including the Federal Trade Commission’s (FTC) Hart-Scott Rodino (HSR) antitrust review process and other customary closing conditions—the acquisition closed and became effective December 15.
“This is a significant chapter in the history of our Practice, and we are thrilled to welcome hundreds of MEDNAX radiologists and support team members to the RP family,” said Rich Whitney, RP Chairman and CEO. “Together, we will continue to elevate radiologists’ role in our healthcare system as we advance our mission to transform radiology. We look forward to expanded and meaningful collaboration in the areas of clinical innovation, subspecialty coverage, advanced technology and growth opportunities.”
The combination of RP and MEDNAX Radiology Solutions—two of the country’s leading radiology teams—totals more than 2,400 radiologists. MEDNAX announced its intent to divest its radiology division in June 2020. For the past several years, including throughout the pandemic environment of 2020, RP has exhibited an ability to grow successfully and to further advance its mission to transform radiology.
“Since RP’s intent was announced in September, we’ve thought a great deal about how a combined Practice will enhance our capabilities for clinical care,” said Ricardo C. Cury, M.D., FACR, Chief Medical Officer of MEDNAX Radiology Solutions. “With the deal’s completion, it’s now time to roll up our sleeves and get to work on creating new pathways for innovation, leveraging our combined strengths and, ultimately, improving patient care.”
The combination of RP and MEDNAX Radiology solutions will extend coverage into new areas while also expanding coverage in existing areas. Together, the organizations have greater resources for large-scale clinical programs and technology solutions, enabling radiologist leaders across the organization to advance RP’s mission to transform radiology.
vRad is the nation’s leading teleradiology practice with 500 U.S. board-certified or eligible physicians, the majority of whom are subspecialty trained. Our practice delivers high-quality diagnostic imaging services to more than 2,100 facilities and radiology groups across the United States. vRad has 23 issued patents for telemedicine and radiology technologies; and is a leading innovator in the areas of artificial intelligence, machine learning, imaging data analytics, and software to improve the quality of patient care, value for our clients, and the experience of our physicians. www.www.vrad.com