Radiology Partners administers $200m round

The Future Fund, Australia’s sovereign wealth fund, has co-led a funding round for the radiology practice that spans some 280 US hospitals and healthcare facilities.

Radiology Partners (RP), a US-based physician-led radiology practice, yesterday closed a $200m funding round co-led by the Future Fund, the sovereign wealth fund of Australia, and VC firm New Enterprise Associates.

A range of RP’s doctors and support team leadership also contributed to the round. The deal follows an equity co-investment from RP physicians closed in April 2017, after which approximately 60% of the company’s radiologists owned a total of about 40% of shares.

Founded in 2012, Radiology Partners operates an on-site radiology practice that spans some 280 hospitals and other healthcare facilities in nine US states – Georgia, Illinois, Indiana, Iowa, Kentucky, North Carolina, Ohio, Oklahoma and Texas.

The money will go towards scaling operations, investment in the company’s clinical programs and an expansion in both existing and new markets.

The company previously raised approximately $2.3m in funding, according to regulatory filings.

Rich Whitney, chairman and chief executive of Radiology Partners, said: “We are very excited to announce this latest round of funding led by world-class investors who understand the importance and potential of our mission.

“Our talented physicians and support teams are delivering outstanding clinical value and service through innovative clinical programs, the latest technology, and impressive teamwork. This latest funding ensures the availability of resources for their continued success.”

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