by John R. Fischer
, Senior Reporter | October 04, 2017
MEDNAX acquires Jefferson Radiology
Florida-based MEDNAX has acquired Jefferson Radiology through a cash transaction.
The purchase of the Connecticut-based radiology practice expands the radiology services of MEDNAX while increasing the number of physician group practices under it, along with the number of studies read annually by its affiliated radiologists, to nearly nine million.
“We are excited about the growth of radiology physician services at MEDNAX and our ability to attract leading radiology providers such as Jefferson Radiology, further enhancing our integrated physician services offering,” said Roger J. Medel, chief executive officer of MEDNAX, in a statement. “The world-class technological capabilities MEDNAX offers through vRad, combined with our own practice-management expertise and physician-centric leadership, make us a valuable partner to radiology practices.”
Through the acquisition, MEDNAX gains connections with several regional hospitals that Jefferson Radiology holds strategic partnerships with, including Hartford Hospital, Windham Hospital, Connecticut Children’s Medical Center, Day Kimball Healthcare, Griffin Hospital, Holyoke Medical Center and Baystate Noble Hospital.
It also will obtain the services of Jefferson radiologists, many of whom are highly specialized in areas such as body imaging, breast imaging, chest imaging, interventional and vascular radiology, musculoskeletal imaging, onco-radiology, neuro-interventional radiology, neuroradiology and head and neck imaging, nuclear medicine and pediatric imaging.
“We were drawn to the energy and excitement of MEDNAX’S mission to build the top radiology platform nationally and beyond, and wanted to be part of a team that is leading the best practices in radiology and reshaping the next generation of how radiology services will be delivered,” said Ethan Foxman, president and CEO of Jefferson Radiology, in the press release. “It was a natural fit to partner with MEDNAX, whose platform will support the total radiology value chain in ways previously unimaginable by even the most developed regional radiology practices like Jefferson Radiology.”
The purchase of Jefferson Radiology marks MEDNAX’s third radiology services practice acquisition for 2017. It previously acquired Radiology Alliance
and Radiology Associates of South Florida. It also expands the number of physician group practices it has acquired for this year alone to eight.
The cash transaction is expected to be immediately accretive to earnings. No other financial details have been disclosed at this time.
Neither MEDNAX nor Jefferson Radiology responded for comment.