Center for Diagnostic Imaging Relaunches As RAYUS Radiology, Marking Major Step As It Accelerates Its National Growth Plan

Backed by Wellspring Capital Management, RAYUS Radiology, after 40 years of success, executes on its vision to further consolidate the radiology industry through acquisitions, development of new centers and employment of key radiologists across the country

MINNEAPOLIS, June 28, 2021 /PRNewswire/ -- Center for Diagnostic Imaging (CDI), the nation's leading subspecialty practice for advanced diagnostic and interventional radiology, announced its rebranding as RAYUS Radiology, a major milestone in the company's 40-year history and indicator of its massive national growth and expansion plans.

The evolution of RAYUS Radiology is the result of a multi-faceted transformation of the quality-first healthcare provider that began after Wellspring Capital Management acquired the business in March 2019. RAYUS has over 400 aligned radiologists, including subspecialists and sophisticated best-in-class technology throughout its nationwide network.

The rollout of RAYUS Radiology will include a comprehensive rebrand across the United States, and the launch of the new "SHINE ON" marketing campaign, designed to challenge status quo in an industry where radiology is treated as an afterthought, not the first critical step in the diagnosis and proper treatment of disease.

"On the anniversary of our 40 years as a high-quality and leading radiology provider, we are at an inflection point that will set the stage for the next 40 years and beyond," said RAYUS Radiology Chief Executive Officer Kim Tzoumakas, who took the helm of the company in March. "Our transition to RAYUS Radiology and the 'SHINE ON' campaign highlights the brilliant people, practices, technology and services that already exist within our company. It also sets the stage for realizing our vision of becoming the premier radiology employer and partner in the industry, a pioneer in research and innovation and a relentless advocate for improving patient care. You could say we plan to shine a light."

RAYUS Radiology will expand its network through employment of radiologists across the country, providing an alternative focused on quality, provider-autonomy and strong back-office support systems.

"We have the ability to offer unique models that are a win-win for radiologists," Tzoumakas said. "Whether they want to remain independent or become an employee of our company, we have a staffing model that aligns with each physician and their specific need. We're excited to begin this new chapter as a company and brand."

As part of its national growth strategy, RAYUS Radiology is also completing acquisitions in key markets. This month, RAYUS Radiology closed on the acquisition of InHealth Imaging in Washington, which has three locations in the Puget Sound market. InHealth's three locations will continue with the same subspecialized radiologists, technologists and care teams, and offers a complementary footprint to RAYUS Radiology's 11 existing locations in the market.

Late last year, RAYUS Radiology expanded into the Salt Lake City-area, with the acquisition of U.S. MRI and Open Imaging, which has eight locations throughout Utah and serves as the official medical provider for U.S. Ski and Snowboard, U.S. Speedskating and U.S. Bobsled and Skeleton. Ted Kyle, Medical Director for U.S. Speedskating, will be partnering in markets across the country to expand access to the network's subspecialized radiologists and state-of-the-art technology for athletes.

RAYUS Radiology continues to grow amid the continuing shift of patients from hospitals to out-patient diagnostic-imaging settings. Today, RAYUS Radiology acquires, manages and distributes over 75 million images annually across modalities—putting the company squarely at the forefront of the nation's shift to personalized, targeted medicine.

"Two years ago, we recognized that this company was positioned for growth and scale," said Alex Carles, Co-President, Wellspring Capital Management. "Consolidation in the industry provides us with an opportunity to drive the conversation."

"We're proud to support this next chapter with the team and look forward to continuing to build out the footprint as we further solidify RAYUS Radiology as the leading provider offering high quality, value-based radiology services," said Naishadh Lalwani, Partner, Wellspring Capital Management.

The RAYUS Radiology network is currently involved in more than 150 clinical trial protocols, offering advanced imaging options across every modality through its national network of diagnostic imaging centers and leading subspecialized radiologists. Based on significant recent growth in its research business, RAYUS Radiology is actively pursuing several innovative partnerships to further enhance and drive this important focus.

"With Wellspring's support of our vision, we are transforming our industry and offering patients access to optimal medical care," said MSCPA National Medical Director and RAYUS Radiology Board Member, Dr. Blake Johnson, M.D. "With state-of-the-art technology, a growing network of radiology centers and leading subspecialists, RAYUS Radiology is revolutionizing radiology while building a nationwide presence to ensure the broadest access to our quality care."

For more information about RAYUS Radiology, please contact Andrew Flach at 973-769-3914 or aflach@jconnelly.com

About RAYUS Radiology
RAYUS Radiology is the nation's leading subspecialty practice for advanced diagnostic and interventional radiology, with a network of imaging centers, hospital partnerships and short- and long- term hospital solutions. The organization, with over 2,000 team members nationally, is committed to delivering clinical excellence in communities across the United States, driven by its affiliated subspecialized radiologist network; compassionate, safe and cost-efficient care; and superior service to referring providers and patients. For more information, visit http://www.rayusradiology.com/.

About Wellspring Capital Management
Wellspring Capital Management is a leading private equity firm headquartered in New York. Since its founding in 1995, Wellspring has raised over $4.5 billion of initial capital commitments through six private equity funds. Over the past 25 years, Wellspring has invested in over 45 platform investments across various segments of the U.S. and global economies. Wellspring's objective is to bring partnership, experience and value creation to each investment. By teaming up with strong management, Wellspring seeks to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. The firm functions as a strategic partner, providing management teams with top-line support, M&A experience, financial expertise and access to resources. For additional information, please visit www.wellspringcapital.com

CONTACT:

Andrew Flach

 

JConnelly

 

973-769-3914

 

aflach@jconnelly.com

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SOURCE RAYUS Radiology

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