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Rayus Radiology Acquires US Radiology Group
Thursday 22 July 2021

US-based diagnostic and interventional radiology company Rayus Radiology, formerly Center for Diagnostic Imaging has acquired radiology provider Foundation Radiology Group, the company said.

Foundation Radiology is a Pittsburgh-based, full-service radiology provider with more than 100 radiologists delivering on-site and tele-radiology services to more than 45 health systems, community hospitals, prominent academic medical centers and outpatient imaging facilities across seven states.

Foundation, a multi-site radiology group accredited by the Joint Commission, operates in Pennsylvania, New York, Ohio, Michigan, Indiana, Kentucky and Virginia, but through its hybrid operating model and technology is able to provide clinical consults day and night and deliver final diagnostic reads 24/7/365.

Annually, Foundation Radiology Group provides more than 1.5m diagnostic reads for physicians and other radiologists seeking counsel of its team of academic-level subspecialty radiologists.

For Rayus Radiology, the acquisition of Foundation Radiology Group is the latest in a series of moves following Wellspring Capital Management's acquisition in March 2019.

Two weeks ago, the company announced its comprehensive rebrand and relaunch as Rayus Radiology, and last week, the company announced its acquisition of Orlando-based Sand Lake Imaging and a majority interest in The Research Radiology Institute.

Specific terms of the Foundation Radiology Group transaction are not being disclosed.

Oppenheimer and Co. and McDermott Will and Emery LLP advised Foundation Radiology Group, with King and Spalding advising RAYUS Radiology on this transaction.

Rayus Radiology has more than 2,000 team members nationwide.
Date Published: 22/07/2021