Radiology Partners Announces Practice Partnership with Austin Radiological Association
Addition of one of the nation’s top practices brings number of radiologists to approximately 1,200
El Segundo, CA (Jan. 8, 2019) – Radiology Partners (RP), the largest physician-led and physician-owned radiology practice in the U.S., today announced it has signed a definitive agreement to partner with Austin Radiological Association (ARA) in Austin, Texas. With this partnership, RP’s practice now consists of approximately 1,200 radiologists across 18 states.
A nationally respected practice, Austin Radiological Association, with 113 radiologists, is also one of the largest radiology groups in the country. It is ranked in the top 10 on the Radiology Business Journal’s Radiology 100, making it the sixth practice ranked in the top 25 and the fourth practice ranked in the top 10 to join RP.
“We are excited and proud to partner with Austin Radiological Association, a nationally renowned radiology practice with a 65-year history of providing exceptional service and clinical care to the patients of Austin and Central Texas,” said Rich Whitney, Radiology Partners’ chairman and CEO. “ARA maintains long-standing relationships with two of the nation’s largest health systems and brings outstanding clinical and administrative expertise to our growing team.”
ARA serves 20 hospitals and operates 17 outpatient imaging centers, including centers that offer general multimodality services as well as centers that focus exclusively on women’s health.
“We recognize the value of RP as a partner and the dedication they have to the profession of radiology,” said Dr. Greg Connor, President of ARA. “Austin Radiological Association has always been a practice that takes pride in being at the leading edge of radiology. The industry is changing rapidly and partnering with RP will help us stay at the forefront of service and clinical innovation. As the practice of radiology evolves, this partnership will help ensure that we continue to provide outstanding care to our patients and hospital partners. Importantly, RP’s mission and values align with our own, and support ARA’s vision for the future of radiology.”
Barclays and Golub Capital are providing committed financing to RP for this transaction.
Leerink Partners LLC acted as exclusive financial advisor to Austin Radiological Association, with Reed Smith serving as legal counsel.
The definitive agreement between Radiology Partners and Austin Radiological Association is subject to usual customary closing conditions and other business approvals.
About Radiology Partners
Radiology Partners is the largest physician-led and physician-owned radiology practice in the U.S., serving more than 850 hospitals and other healthcare facilities across the nation. As a physician-led practice, our mission is to transform radiology by innovating across clinical value, service, and economics, while elevating the role of radiology and radiologists in healthcare. Using a proven healthcare services model, Radiology Partners provides consistent, high quality care to patients, while delivering enhanced value to the hospitals, clinics, imaging centers and referring physicians we serve. Learn more at www.radpartners.com.