Imaging Entrepreneur Sees Opportunity in Workers-Compensation Market

May 15, 2013

Ten years after selling AnciCare, a network of 1,200 imaging centers in 40 states, Michael Cabrera is again putting up his own money for a new venture. According to a feature in the Miami Herald, the Florida-based entrepreneur will this time focus on the Sunshine State’s workers-compensation market.

Under the name of U.S. Radiology, Cabrera hopes to bring structure to a $1.2 billion workers-compensation realm where diagnostic-imaging referrals largely go unmanaged—leading to overpayments, inefficiencies and quality issues.

In the Herald article by Nancy Dahlberg, Cabrera... Read More »

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Posted in imaging vendor news , imaging center chains

Strategic Radiology Launches Patient Safety Organization

March 15, 2013

With the intention of establishing “a safety organization that can serve as a national model,” Strategic Radiology (SR) of Palmetto is seeking formal AHRQ certification for its new Patient Safety Organization (PSO).

The Palmetto, FL-based company is branding the new organization as Strategic Radiology Patient Safety Organization LLC. SR says it is the first of its kind to have been established by radiologists.

Lisa Mead, RN, MS, CPHQ, will head up the PSO, which will be supported by all 15 of the SR member groups.

Randal Roat, SR’s chief operating officer, told Imagingbiz... Read More »

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Posted in safety , imaging center chains , practice administration

RadNet Acquires Manhattan-based Lenox Hill Radiology for $30.3 Million

January 03, 2013

The big keep getting bigger. RadNet, Inc. announced on December 31 that it has acquired Lenox Hill Radiology for approximately $30.3 million, including the assumption of $1.2 million of debt.

A factor in the deal was that it gives RadNet an entry point in the Manhattan area. Lenox Hill is based in Manhattan and has operated in New York City for 25 years through a group of centers that include Regency Medical Imaging and Madison Avenue Medical Imaging. RadNet also expects the acquisition to add approximately $40 million of revenue annually.

... Read More »

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Posted in imaging center chains , m&a

Optimal Radiology Joins With ADI

November 15, 2012

In an effort to create an “integrated national imaging group,” Optimal Radiology of Nashville, Tenn., joined with Advanced Diagnostic Imaging (ADI) to form Optimal Radiology Partners (ORP). The newly formed entity will continue to pursue the Optimal branding initiatives while focusing primarily on large national hospital systems.

“We will still have ADI and Optimal Radiology, but for a very specific audience and market we are creating a joint venture that will take the best of both companies for a focused effort,” says John Grimes, CEO, Optimal Radiology. “We share the same vision, and we are not worried... Read More »

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Posted in imaging center chains , m&a

Merger Creates Pacific Northwest Behemoth

September 28, 2012

Inland Imaging Associates PS and Seattle Radiologists APC will merge to form one of the largest professional radiology groups in the West.

“This is a true joining of forces,” says Steve Duvoisin, CEO, Inland Imaging Associates, Spokane, Wash. “Even though the number of radiologists is different—we have more—both parties felt it was important to have equal representation. In the new group, governance will be 50/50. This is not a takeover or an acquisition.”

The move follows what many experts are calling a national trend, with health plan consolidation expected to continue on a much... Read More »

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Posted in imaging center chains , m&a

RadNet Begins Offering Alzheimer’s Disease Testing with Amyvid Tracer

July 31, 2012

Late yesterday afternoon, RadNet Inc., the nation’s largest imaging center chain, performed its first Alzheimer’s Disease test using Eli Lilly’s radioactive tracer Amyvid and PET/CT imaging, confirmed Judith Rose, MD, director of PET/CT and nuclear medicine for RadNet.

The procedure — which was scheduled for 5 p.m. PST at NorCal Imaging in Walnut Creek, Calif. — marked the beginning of one of the largest standardized testing programs so far for Amyvid. Under RadNet’s “Shine a New Light on Dementia” initiative, a... Read More »

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Posted in ct , imaging center chains , radiopharmaceuticals

In Hawai’i, Hospital Ousts Locals for Exclusive Radiology Contract

June 26, 2012

Maui Radiology Associates (MRA), which for years has enjoyed an exclusive contract to provide radiology services at the local Maui Memorial Medical Center (MMMC), is protesting a decision by the hospital to sign over those rights to the Dallas, TX-based teleradiology firm, RadCare.

According to the Maui News, MRA will challenge the hospital’s new, two-year contract with RadCare at a... Read More »

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Posted in teleradiology , imaging center chains

New Imaging Contracts May Double Business for Optimum Mobile Imaging

June 19, 2012

Optimum Mobile Imaging LLC (OMI), a wholly owned subsidiary of IMD Companies, Inc., (ICBU), has been selected as the exclusive imaging provider to two large medical clinics in the Southwest.

IMD expects that imaging services at both clinics — initiated in June 2012 — will significantly impact financial results beginning with the company’s third quarter 2012 filings.

“We are excited about these opportunities,” says Bruce Collett, director of OMI, in a statement announcing the contracts. “The anticipated revenue from these... Read More »

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Posted in revenue , imaging center chains

CDI-Insight Merger Promises Bigger Presence, Bigger Opportunities

June 08, 2012

With leverage provided by a private financier, the Center for Diagnostic Imaging of Minneapolis, MN will merge with Insight Imaging of Lake Forest, CA, forming an imaging chain that extends through half the country.

Based on last year’s numbers of imaging centers by chain, the combined CDI-Insight chain will be second only to RadNet in number of individual centers nationwide.

Black Diamond Capital Management<... Read More »

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Posted in imaging center chains , m&a

MR Unit Not the Cause of Philadelphia Imaging Center Explosion, Exec Says

May 30, 2012

A late-afternoon explosion at a Philadelphia imaging center Tuesday may be the result of an electrical or gas overload at one of its strip-mall neighbors, according to the company president.

The Roosevelt Avenue offices of TriState Imaging Group of Philadelphia, PA were rocked by “a small, contained explosion” that did not harm anyone, nor did it involve the Hitachi AIRIS II open MR unit installed at the building, TriState Imaging president Mark Carr tells Imagingbiz.

�... Read More »

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Posted in mri , imaging center , safety , imaging center chains

Inland Imaging to Spin off HIT Subsidiary, Nuvodia

May 24, 2012

Citing a growing demand for nationwide HIT services, Inland Imaging of Spokane, WA announced plans this week to spin off an integrated IT service and image archiving subsidiary, the Spokane Spokesman-Review reported.

The new enterprise, which will formally launch June 1, will be called Nuvodia.

According to the Spokesman-Review, Inland Imaging had positioned itself for this move with a pair of acquisitions: of the Spokane-based tech firm, TROI IT, and of Quick Study Radiology, a medical imaging and... Read More »

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Posted in imaging center chains , m&a

Optimal IMX Names Former TeamHealth Exec Jonathan Grimes New CEO

May 23, 2012

As the new CEO of radiology services provider, OptimalIMX, Jonathan Grimes confesses he’s not as up-to-speed on the more technical aspects of the industry as he’d like—but that’s okay. Change is good.

“I’ve been in healthcare for 35 years and one thing’s for sure: there’s no homeostasis,” he says. “But I think that in this disruption there’s an opportunity to do some creative things that affect outcome and quality.”

In the executive suite at TeamHealth, where Grimes spent 11 years, or as the CEO of three HCA hospitals and... Read More »

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Posted in practice management , imaging center chains , executive appointments

Concord Medical, Largest Diagnostic Imagine Provider in China, Reports Q1 Financials

May 21, 2012

Concord Medical, which operates the largest network of radiotherapy and diagnostic imaging centers in China, reported its unaudited consolidated financial results for the first quarter of 2012 today.

The company reported total net revenues of $16.9 million, up 22 percent from those reported in the first quarter of 2011. Net income was $4 million for the quarter, up 9 percent year-over-year, an $0.08 per-share increase.

Concord Medical operated 130 imaging centers in 51 cities across 24 provinces in China, at which it saw more than 52,000 patients in the quarter, according to the earnings... Read More »

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Posted in finance , imaging center chains

EXCLUSIVE: CDI CEO Talks Whistleblower Suit, Imaging Billing Issues

May 17, 2012

Earlier this week, a settlement was reached in a five-year whistleblower suit against Minneapolis, MN-based Center for Diagnostic Imaging, Inc..

The suit alleged “that CDI defrauded federally funded health programs by (1) improperly upcoding billings associated with epidural injections, (2) billing for services without a written order from the treating physician, a requirement for proper billing according to federal law, and (3) using lease arrangements which disguised improper kickbacks to treating physicians,” according to a press release from Hagens Berman Sobol Shapiro,... Read More »

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Posted in medicare , billing , practice management , imaging center chains

RadNet Posts Q1 Results: Revenue, Assets Up

May 10, 2012

After a quarter of aggressive partnerships and acquisitions in early 2012, RadNet still posted... Read More »

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Posted in finance , imaging center chains

RadNet Scoops Up West Coast Radiology, Plans Deeper California Expansion

April 02, 2012

Mere days after closing a deal to gain unprecedented access to the New Jersey patient market through an exclusive partnership with St. Barnabas Health, RadNet, Inc. will deepen its footprint in the sixth-most-populous county in the country with the acquisition of the West Coast Radiology Centers provider group.

The principal assets involved in the deal are five multi-modality imaging centers located in Orange County, California: Anaheim, Santa Ana/Tustin,... Read More »

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Posted in imaging center , imaging center chains , m&a

vRad Radiology Adds Another Practice Partner

December 23, 2011

A leading national radiology network just got even bigger. vRad Radiology Alliance announced that seven physicians from Montgomery Radiology Associates joined its Pennsylvania partner, Diagnostic Imaging Inc.

The radiologists will join more than 60 physicians serving Philadelphia and surrounding counties. VRad Radiology Alliance offers member groups with shared expertise, a next generation technology platform, quality assurance programs and enhanced communication tools, according to a press release.

Read More »

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Posted in teleradiology , imaging center chains

ProScan Imaging Names Grossman to COO Post

August 10, 2011

ProScan Imaging, LLC, a Cincinnati, Ohio-based provider of diagnostic imaging services through a multi-state network of imaging centers, teleradiology services, and a medical imaging education foundation, today announced that Mark Grossman has joined the organization as Chief Operating Officer. The appointment became effective on July 18.

Grossman possesses extensive experience in practice management and has held prominent positions in radiology- and anesthesiology-focused organizations alike. For the past two years, he served as Chief Executive Officer of Suffolk Anesthesiology Associates in Smithtown, New York,  where he was responsible for the administration and operation of multiple wholly owned affiliated... Read More »

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Posted in imaging center chains , executive appointments