EL SEGUNDO, Calif.--(BUSINESS WIRE)--Radiology Partners (RP), the leading radiology practice in the U.S., today announced the completion of its acquisition of MEDNAX Radiology Solutions, a division of MEDNAX, Inc. (NYSE: MD), in a transaction valued at approximately $885 million. Following all necessary regulatory approvals—including the Federal Trade Commission’s (FTC) Hart-Scott Rodino (HSR) antitrust review process and other customary closing conditions—the acquisition closed and became effective December 15.
“This is a significant chapter in the history of our Practice, and we are thrilled to welcome hundreds of MEDNAX radiologists and support team members to the RP family,” said Rich Whitney, RP Chairman and CEO. “Together, we will continue to elevate radiologists’ role in our healthcare system as we advance our mission to transform radiology. We look forward to expanded and meaningful collaboration in the areas of clinical innovation, subspecialty coverage, advanced technology and growth opportunities.”
The combination of RP and MEDNAX Radiology Solutions—two of the country’s leading radiology teams—totals more than 2,400 radiologists. MEDNAX announced its intent to divest its radiology division in June 2020. For the past several years, including throughout the pandemic environment of 2020, RP has exhibited an ability to grow successfully and to further advance its mission to transform radiology.
“Since RP’s intent was announced in September, we’ve thought a great deal about how a combined Practice will enhance our capabilities for clinical care,” said Ricardo C. Cury, M.D., FACR, Chief Medical Officer of MEDNAX Radiology Solutions. “With the deal’s completion, it’s now time to roll up our sleeves and get to work on creating new pathways for innovation, leveraging our combined strengths and, ultimately, improving patient care.”
The combination of RP and MEDNAX Radiology solutions will extend coverage into new areas while also expanding coverage in existing areas. Together, the organizations have greater resources for large-scale clinical programs and technology solutions, enabling radiologist leaders across the organization to advance RP’s mission to transform radiology.
Goldman Sachs & Co. LLC is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Radiology Partners. Barclays is serving as financial advisor and DLA Piper LLP (US) is serving as legal counsel to MEDNAX.
About Radiology Partners
Radiology Partners is the largest physician-led and physician-owned radiology practice in the U.S., serving nearly 3,260 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.
MEDNAX, Inc. is a national health solutions partner comprised of the nation's leading providers of physician services. Physicians and advanced practitioners practicing as part of MEDNAX are reshaping the delivery of care within their specialties and subspecialties, using evidence-based tools, continuous quality initiatives, consulting services, clinical research and telemedicine to enhance patient outcomes and provide high-quality, cost-effective care. The Company was founded in 1979, and today, through its affiliated professional corporations, MEDNAX provides services through a network of more than 3,000 physicians in all 50 states and Puerto Rico. Additional information is available at www.mednax.com.