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Aris Radiology Continues National Expansion Through Acquisition of US Teleradiology
Introduction
GREENWICH, CT and ATLANTA, GA — Aris Radiology, a Great Point Partners (“GPP”) portfolio company, today announced it has acquired Atlanta-based US Teleradiology (“UST”). Founded in 2001, UST is a physician-owned radiology practice that provides professional radiology services to hospitals and other medical facilities across 25 states. With the acquisition of UST, Aris now has more than 250 radiologists who interpret approximately 2.5 million studies annually across 400 client sites in over 30 states.
“We are extremely excited about the combined expertise and resources of UST and Aris Radiology,” said Carl Kozlowski, Aris President and CEO. “UST has built a strong network of highly trained radiologists and esteemed clientele, and we look forward to expanding on UST’s hospital system relationships.”
Rohan Saikia, Principal at Great Point Partners and Board member of Aris Radiology said, “UST is Aris’ third strategic acquisition since our investment. This acquisition solidifies Aris’ position as one of the premier national radiology providers and a leader in the consolidation of the radiology market.”
UST CEO, Francis Ferraro, MD added, “we have been dedicated to providing the highest level of service to the hospitals and organizations we serve, and the partnership with Aris will allow us to now also provide the Aris’ 24 hours per day, seven days a week full subspecialty coverage to our clients.”
Dr. Ferraro will join Aris as a member of its physician leadership team serving as Director of Physician and Clinical Relations and Chief Medical Officer for Aris’ California operations. As part of the continued national expansion, Aris will open an executive office in Atlanta, GA.
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $900 million of equity capital under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP II, which has closed on $215 million. Great Point manages capital in private (GPP I, $156 million and GPP II) and public (BioMedical Value Fund, approximately $500 million) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, services, outsourcing, pharmaceutical infrastructure and information technology. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or www.gppfunds.com.
About Aris Radiology, LCC
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.