HealthEdge Partners with Radsource, Excited to Enter Growing Teleradiology Market

TAMPA, Fla., Jan. 18, 2024 /PRNewswire/ — HealthEdge Investment Partners, LLC (“HealthEdge”), a leading lower middle market healthcare-focused private equity fund, announced today that it has completed an investment in Radsource, LLC (“Radsource”). Founded in 2001 and based in Brentwood, TN, Radsource is the nation’s largest provider of subspecialty orthopedic and neurological MRI interpretations, and is also a provider of a leading medical imaging technology solution, ProtonPACS, which it launched in 2012 through a partnership with Intelerad.

Radsource’s team of 25 fellowship-trained radiologists are leaders in their fields, recognized for their extensive experience, subspecialty expertise, and commitment to clinical excellence. Radsource excels in serving orthopedic practices and other specialized groups, offering MRI interpretation services with highly detailed reporting, meticulous attention to accuracy, and access to radiologists for real-time collaboration. Radsource is a total imaging partner for its practice customers, working with them to improve the efficiency and diagnostic capabilities of their imaging services.

PACS (picture archiving and communication system) is a medical imaging technology that allows healthcare professionals to digitally store, view, share, and report on medical images, such as X-rays, CT scans, and MRIs. Radsource’s ProtonPACS solution has a unique hybrid architecture that delivers exceptional reliability with advanced tools, customized features, and an affordable pricing model that makes it suitable for any imaging environment.

Mark Awh, Radsource’s Co-Founder and President, shared about the partnership with HealthEdge, “We are extremely proud of what we have achieved since our founding in 2001. Providing our clients with exceptional quality and best-in-class technology is of paramount importance to our team, and it’s been exciting to see the market’s receptivity to our differentiated offerings, which we developed to address what we identified as unmet needs within our industry. We are excited to partner with HealthEdge to continue to expand the reach of our industry-leading solutions.”

HealthEdge Partner Matt Dawson commented, “We are excited to partner with the founders of Radsource and the exceptional team of physicians and non-clinicians they have assembled. With their uncompromising focus on quality, they have developed a reputation for delivering excellence in both their clinical services and technology solutions. Their status as one of the largest providers within their subspecialties is a testament to their dedication to offering the highest quality in musculoskeletal and neurological MRI interpretation. Similarly, Radsource has developed an equally impressive base of highly satisfied ProtonPACS customers. We look forward to working with and supporting the Radsource team through their next evolution of growth.”

Avante Capital Partners, LP provided debt financing for the transaction. Hill Ward & Henderson, PA served as legal counsel to HealthEdge. B.C. Ziegler & Company served as financial advisor, and Holland & Knight LLP served as legal counsel to Radsource.

ABOUT HEALTHEDGE

HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined experience in healthcare as operators and investors. For more information on HealthEdge, please visit www.healthedgepartners.com.

ABOUT RADSOURCE

Radsource is dedicated to providing clinical excellence in subspecialized musculoskeletal and neurological MRI interpretation. We leverage our deep experience as radiologists and daily PACS users to deliver our industry-leading PACS solution, ProtonPACS, to hospitals, imaging centers, physician practices, and a wide variety of other medical imaging environments. Our goal is to improve healthcare wherever we go, and we achieve this through both our exceptional PACS solution and our expertise in MRI interpretation. For more information on Radsource, please visit www.radsource.us.

Contact:
5550 W. Executive Drive, Suite 230
Tampa, Florida 33609
(813) 490-7100
www.healthedgepartners.com

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SOURCE HealthEdge Investment Partners, LLC