Outpatient Imaging Affiliates Philadelphia Joint Venture Acquires Two New Locations
OUTPATIENT IMAGING AFFILIATES PHILADELPHIA JOINT VENTURE ACQUIRES TWO NEW LOCATIONS
Nashville, TN – Outpatient Imaging Affiliates (“OIA”) announced today the November 2008 acquisition of two imaging centers by its Philadelphia-based joint venture, Jefferson University Radiology Associates, (“JURA” d/b/a – Jefferson Imaging). JURA is a joint venture between OIA, Thomas Jefferson University Hospital and the Jefferson University Radiology Practice. The centers, located in Collegeville, PA and Norristown, PA, were acquired from SSP Partners and were formerly owned by Raytel Imaging. With the addition of the two new locations, JURA now owns a total of four centers which operate six MRI units as well as CT, PETCT, Ultrasound, DEXA and X-ray services. OIA, which provides management and billing and collection services for all JURA centers, identified the acquisition candidates and negotiated the transaction on behalf of the joint venture.
Outpatient Imaging Affiliates has been partnered with Thomas Jefferson University Hospital and Jefferson University Radiology Practice since 2002 with a goal of developing a geographically disbursed network of digitally integrated outpatient imaging centers to increase market share. In regard to the new acquisitions, Dr. Vijay Rao, Chairman, Department of Radiology said, “OIA has done a quality job of helping to expand JURA’s reach into the community by negotiating these acquisitions, arranging financing, effectively marketing and managing all JURA locations while continuing to look for expansion opportunities. It would not have been possible to bring all of this to such a successful and timely conclusion without OIA’s resources, expertise and capital.”
Outpatient Imaging Affiliates has joint ventures with several prominent community and teaching hospitals, academic radiology practices and community radiology groups, all with a growth mission in an otherwise challenging and continually changing market. “The outpatient diagnostic imaging market is undergoing significant change,” says Frank Kyle, CEO at Outpatient Imaging Affiliates, “but there are still opportunities for targeted, profitable growth with the right partners. It is our commitment to each of our partners to find and aggressively pursue these types of