Radisphere National Radiology Group Secures Series C Financing

CLEVELAND, Nov. 16, 2010 /PRNewswire/ -- Radisphere National Radiology Group, a leading, national radiology provider, today announced that it has secured $27.5 million in Series C financing. The financing round was led by Maverick Capital and included existing investor Oak Investment Partners.  

"This strategic round will allow us to continue to make investments in our technology platform and support infrastructure to better serve the needs of our existing and future clients in the community hospital market," explained Scott Seidelmann, President & CEO of Radisphere. "At the center of our National Radiology Group™ strategy is a resolute focus on delivering higher quality and lower costs in radiology and demonstrating how that translates to value for community hospitals, clinicians, and patients."

David Singer, Maverick Capital's head of private investments, concurs: "Given the significant cost and quality challenges that exist in healthcare today, particularly at the community hospital level, we are very excited about Radisphere's software enabled provider model that delivers high quality, time sensitive services to physicians. The contributions it brings to patient care are significant no matter what changes healthcare reform will bring about."

Oak Investment Partners also participated in the round. Oak Managing Partner, Annie Lamont, commented, "We are excited that Radisphere continues to execute on its original vision of developing a technology enabled radiology delivery model that can impact both quality and cost at the community hospital level."  

About Radisphere
Radisphere National Radiology Group leads the industry in exceptional radiology professional services to community hospitals. Radisphere is a comprehensive on-site and off-site provider that, due to our specialized Radiologists, enables clients to improve referring physician satisfaction, increase referrals and revenue while minimizing radiology staffing and departmental costs. Along with our locally placed general Radiologists, the Radisphere team of specialized Radiologists, who combined are licensed in 50 states, includes: board certified musculoskeletal, neuroradiology, body, cardiac, emergency, pediatric, women's imaging and nuclear medicine, all with advanced modality training. Radisphere utilizes a sophisticated custom-engineered technology platform called radii™ to distribute images, reports, and critical data throughout our network and securely to the hospital enterprise. Founded by pioneer subspecialty Radiologists, Radisphere is located in Cleveland, OH with 250 clients and more than 130 non-physician professional services team members.  Visit http://www.radisphere.net or call 866 - 437 - 7237.

SOURCE Radisphere National Radiology Group