Radiology Partners Affiliates with Canopy Partners, Expanding its Portfolio of Radiology Consulting, IT and Revenue Cycle Management Services
RP deepens services capabilities, further solidifying leading position in radiology
(EL SEGUNDO, Calif.) May 23, 2019 – Radiology Partners (RP), the largest physician-led and physician-owned radiology practice in the U.S., today announced it has entered into an agreement to acquire Canopy Partners, Inc.
Based in Greensboro, North Carolina, Canopy Partners is an established market leader in radiology consulting, IT and revenue cycle management services. The company has a strong national brand and presence, serving more than 140 clients in 30 states, including hospital imaging departments, outpatient imaging centers and independent radiology groups. Canopy Partners, which has tripled in size since 2011, has been recognized multiple times as a “Best Place to Work” in North Carolina and one of the “fastest growing private companies in America” according to Inc. magazine.
“We are extremely excited to welcome the talented team from Canopy Partners to RP,” said Rich Whitney, RP’s chairman and chief executive officer. “Canopy Partners has a well-deserved reputation as a trusted advisor and innovative solution provider for many of the country’s leading radiology organizations and hospital imaging departments. We look forward to supporting them in their continued success.” Mr. Whitney added that Canopy Partners will keep its name and that all its executives and employees will remain in place.
Canopy Partners will operate independently as a stand-alone division of RP, providing services to both RP and non-RP clients. It will act as an unbiased advisor with strong safeguards in place to protect client confidentiality and neutrality. Canopy Partner’s leadership team believes their ability to deliver services to its clients will be enhanced by the additional guidance and resources that come from a strong capital partner.
“Mission, culture and values are important to Canopy Partners, and these were critical factors in our decision to partner with RP,” said Worth Saunders, chief executive officer of Canopy Partners. “Radiology Partners’ mission of transforming radiology aligns with our mission and values, and we believe the two organizations working together will support the acceleration of innovations in workflow and business solutions for imaging providers.”
Ziegler served as the exclusive financial advisor, and Reed Smith LLP served as the exclusive legal counsel to Canopy Partners. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo served as legal counsel to RP.
About Radiology Partners
Radiology Partners is the largest physician-led and physician-owned radiology practice in the U.S., serving more than 925 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.
About Canopy Partners
Canopy Partners is a healthcare technology company that specializes in radiology consulting, IT and revenue cycle management services. The company is focused on elevating the role of medical imaging in the healthcare value chain. Canopy creates flexible, customer-driven business solutions that improve its client’s productivity, profitability, and patient care. Learn more at www.canopy-partners.com.