Rayus Radiology is acquiring a chain of Florida imaging centers, resulting in an alliance with fellow industry giant Radiology Partners, leaders revealed Wednesday.
Backed by private equity firm Wellspring Capital, Rayus has inked a deal to purchase the Diagnostic Centers of America and its eight locations. Founded in 1992, the imaging center operator does not employ radiologists, running a partnership with Boca Radiology Group, which reads studies and collects the professional fee while DCA receives the technical component.
Mednax Inc. acquired Boca Radiology Group in 2020 before Radiology Partners bought Mednax later that year for $885 million. Those involved confirmed that Rad Partners will continue to both own Boca Radiology and read studies for the Diagnostic Centers of America.
"Our acquisition of DCA was driven by our desire to partner with the Boca Radiology Group in this rapidly growing market in Florida to provide the highest-quality services to these growing communities," Kim Tzoumakas, chief executive of Rayus Radiology, which changed its name from the Center for Diagnostic Imaging in June, said in a statement. “The DCA team, together with BRG, built the highest-quality imaging centers with the leading radiologists in the market, and we are focused on continuing that legacy while accelerating growth in these markets and across Florida,” she added later.
Steven and Alan Shullman founded the Diagnostic Centers of American and acted as its CEO and chief operating officer, respectively, prior to the sale. In the announcement, the former said their goal in seeking a sale was “find a strong innovative company that would retain our values and vision that was the foundation of our success.”
Terms of the transaction were not disclosed. This is the eighth such deal for Minneapolis-based Rayus in the past 12 months, ballooning its imaging center tally from 123 to 148 during that time span.