What You Should Know:
– Radiology Partners acquires MEDNAX Radiology Solutions, a division of MEDNAX, Inc. for $885M in cash.
– The acquisition accelerates Radiology Partners’ mission to transform radiology, offer unparalleled clinical value and service at scale, and further elevate the role of radiologists within the healthcare field.
Radiology Partners (RP),a radiology practice in the U.S., announced a definitive agreement to acquire MEDNAX Radiology Solutions, a division of MEDNAX, Inc. for an enterprise value of approximately $885 million. The combination of RP and MEDNAX Radiology Solutions brings together two of the top radiology leaders and teams in the U.S. Founded in 1979, MEDNAX provides services through a network of more than 3,000 physicians in all 50 states and Puerto Rico.
Acquisition Benefits for Radiology Partners
When finalized, the acquisition is expected to add more than 800 radiologists to RP’s existing practice of 1,600 radiologists. MEDNAX Radiology Solutions consists of more than 300 onsite radiologists, who primarily serve patients in Connecticut, Florida, Nevada, Tennessee, and Texas, and more than 500 teleradiologists, who serve patients in all 50 states. MEDNAX Radiology Solutions physicians interpret 11.8 million exams annually, guiding the care of millions of individual patients.
The combination will enable greater capabilities for large-scale clinical programs driving value-creation and cost reduction across the healthcare system, subspecialty offerings for patients and clients in the regions served, and increased opportunities to develop and elevate radiologist leaders to advance RP’s mission and improve patient care. The transaction between RP and MEDNAX Radiology Solutions is subject to regulatory approval and customary closing conditions.
“This is a milestone day. The MEDNAX radiology practices are among the best in the country, and we are excited to welcome so many outstanding radiologists and physician leaders to our practice,” said Rich Whitney, Chief Executive Officer, Radiology Partners. “We believe the benefits of increased scale, paired with local practice autonomy and physician leadership, will allow us to continue to advance patient care, improve clinical value and ultimately transform radiology. The addition of these leading practices, as well as the nation’s premier tech-enabled teleradiology platform, represents an amazing opportunity to accelerate our progress on this important mission.”