Virtual Radiologic Corporation (vRad) made headlines last week when it was acquired by MEDNAX, Inc. for $500 million. It’s big news, but according to vRad Chief Solutions Officer David Trachtenberg, the company’s goals have not changed.
“Our mission is—and will remain—to help our clients make better decisions for the health of their patients,” Trachtenberg told RadiologyBusiness.com via email.
Trachtenberg points out how similar vRad and MEDNAX are, and how the acquisition made sense for both sides.
“Like vRad, MEDNAX is a company driven by both a patient-centric clinical approach and a partner-focused strategy,” Trachtenberg said. “Their values are our values. Their priorities are our priorities: reshaping the delivery of care using evidence-based tools, continuous quality initiatives and clinical research to enhance patient outcomes and provide high-quality, cost-effective care.”
While some companies might undergo a complete transformation after being acquired, vRad will stay the course and focus on consistency and stability, for the benefit of both its employees and its clients. vRad’s management team will join MEDNAX, for example. And the company’s headquarters will stay in Eden Prairie, Minn.
“There are no plans to make any changes to how vRad operates on a daily basis,” Trachtenberg said.
On the other hand, vRad now gets to operate with the advantages of being a part of MEDNAX, a national medical group that made $2.44 billion in revenue in 2014. Considering both this deal and the $490 million MEDNAX spent in acquisitions in 2014, it’s clear that the company is serious about moving forward and investing in the future.
“As part of a large, financially secure and growing public company, vRad can move into the next phase of our journey: one of expanded and complementary opportunities for our clients, higher growth and increased investment in innovation,” Trachtenberg said.