January 28, 2013
GREENWICH, CT and HUDSON, OH — Great Point Partners (“GPP”) today announced that its GPP I portfolio company, Aris Teleradiology has acquired Pediatric Radiology of America (“PRA”), a premier pediatric radiology services company that provides extensive pediatric subspecialty coverage. Many of the PRA radiologists are subspecialty experts in areas such as neuro-pediatrics and cardiac pediatric radiology.
Carl Kozlowski, Chief Executive Officer of Aris commented, “Aris is excited to join hands with PRA. The team at PRA has top pediatric radiologists that are vetted through a strict recruiting and quality control process. The acquisition of PRA and its client base provides Aris with the most complete portfolio of sub-specialty pediatric radiology services of any national radiology company. As Aris continues to grow nationally as a premier professional radiology services company, we will continue to differentiate ourselves by adding value. PRA like Aris is accredited by The Joint Commission and their dedication to quality first and foremost, made them the most natural fit for Aris.”
Shehnaz Pancholi, CEO and Founder of PRA added, “We are excited to join Aris and help grow their pediatric subspecialty nationally. Aris is the leading quality brand in the professional radiology space.”
PRA will be integrated into Aris and offer a deeper pediatric radiology subspecialty to all current and new Aris clients. As a part of Aris, PRA will continue to provide the same superior coverage to numerous US hospitals and continue to attract hospitals and imaging centers that are interested in furthering their pediatric subspecialty expertise. The combined company will provide teleradiology and outsourced professional radiology services to more than 125 clients in 31 states.
About Aris Teleradiology, LLC
Founded in 2007 and headquartered in Hudson, OH, Aris provides professional radiology services to patients, surgeons and healthcare institutions. The Company is a Joint Commission certified radiology services company. Aris works in concert with local hospitals and radiology groups to provide a comprehensive hybrid solution to its clients by providing high quality radiologists, 24/7 sub specialty coverage, 24/7 operations support, and quality assurance data. Aris’ breadth of service and discipline allows it to deliver high quality patient care in a cost-effective manner to the hospitals, and other health care payors. Visit www.arisradiology.com for additional information.
About Great Point Partners
GPP, based in Greenwich, CT, is a leading health care investment firm with approximately $600 million of equity capital under management. The Aris investment was made from GPP I, a fully committed $156 million lower middle market buy-out fund. GPP is currently investing from GPP II, which is targeted at $200 million.
Great Point manages capital in public and private equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including behavioral health, biologics manufacturing, life sciences, health care services, hospital outsourcing, information technology, medical devices, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203.971.3300. www.gppfunds.com
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.