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Aris Radiology Expands Coverage through Acquisition of Optimal Radiology
Introduction
GREENWICH, CT and HUDSON, OH — Great Point Partners (“GPP”) today announced that its GPP I portfolio company Aris Radiology has acquired Optimal Radiology (“Optimal”), a Tennessee-based professional radiology company that provides 24/7 coverage of hybrid (onsite radiologist staffing and teleradiology) services to hospitals and health systems across five states. The acquisition will allow Aris to expand its national footprint to now cover 30 states, as well as increase radiologists on staff to 160—creating capacity to interpret an estimated 1.5 million exams annually.
Carl Kozlowski, Chief Executive Officer of Aris, commented, “The acquisition of Optimal and its client base establishes Aris as the premier provider of onsite and offsite professional radiology services to hospitals and health systems nationwide. We are excited to continue providing the highest level service to Optimal’s existing clients, working closely with our new Chief Medical Officer, Dr. Chad Calendine, formerly of Optimal.”
“Aris’ hybrid radiology model and dedication to providing the highest quality service to their clients made them an obvious partner for Optimal,” said Dr. Chad Calendine. I am eager to work with Carl and the rest of the Aris team to expand premier sub-specialty radiology coverage to Optimal providers and others which have had difficulty obtaining reliable subspecialty radiology coverage.”
Optimal will continue to provide the same superior coverage to its numerous hospital and health system contracts. As part of the company’s continued expansion and the Optimal acquisition, Aris will open an executive office in Nashville, TN, according to Rohan Saikia, a Principal at Great Point Partners.
About Aris Radiology, LLC
Founded in 2007 and headquartered in Hudson, OH, Aris provides professional radiology services to patients, surgeons and health care 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 subspecialty 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 more information.
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 $800 million of equity capital under management and 26 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 (BMVF, approximately $370 million) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical infrastructure, devices and diagnostics, health care services, outsourcing, and information technology. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300 or www.gppfunds.com.