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Charlotte Radiology and WCAS to launch US Radiology Specialists

by John R. Fischer, Senior Reporter | April 11, 2018
Business Affairs Cardiology X-Ray
Charlotte Radiology and WCAS are
collabing to form US Radiology
Specialists
Charlotte Radiology, a practice based in North Carolina, has teamed up with health care investment firm Welsh, Carson, Anderson & Stowe (WCAS) to launch US Radiology Specialists, a physician-owned radiology group.

The formation of the practice builds upon Charlotte Radiology’s more than 50 years of experience serving the Southeast and WCAS’s business support and capital investment. It also is predicted by both to grow as an enterprise, due, in part, to the leadership experience of John Perkins, who has been named as the company’s official CEO.

“US Radiology Specialists is a physician-owned and quality-focused group set up to support our mission of providing exceptional patient care,” Bob Mittl, chairman of the Clinical Governance Board of Charlotte Radiology and a US Radiology Specialists board member, said in a statement. “We are excited to form US Radiology Specialists in a joint partnership with highly experienced and like-minded partners such as WCAS.”

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Equipped with five outpatient imaging centers and two mobile MR units, Charlotte Radiology provides US Radiology Specialists with the combined abilities of its 126 physicians and advanced care practitioners for interpreting or performing more than 1.5 million imaging studies and imaging-guided procedures annually.

It also offers subspecialized radiology and interventional care expertise, currently exhibited 24 hours a day at 18 hospitals, and access to its 14 breast centers, three mobile mammography units, two vein centers, and several vascular and interventional care sites.

Perkins, coming from a background as CEO of global plasma protein therapeutics company, Bio Products Laboratory (BPL), will be able to help scale the business as well as offer private equity experience as an operator and operating partner for Bain Capital, Ampersand Capital and Cerberus Capital.

“I am incredibly excited to partner with Charlotte Radiology and WCAS to create US Radiology Specialists,” he said in a statement. “I strongly believe in our model of a national, physician-owned partnership that is closely aligned with leading health systems to provide the highest quality patient care.”

Financial advice in this transaction was provided to Charlotte Radiology by Leerink Partners LLC, alongside its legal counsel, McGuireWoods LLP. WCAS was advised on a legal basis by Ropes & Gray.

No financial details were disclosed.

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