Radiology Partners (RP) has received an investment of approximately $700 million from Starr Investment Holdings. The money will go toward supporting RP’s growth, including developing future partnerships and bringing in new resources for its radiologists.
“We are excited to welcome SIH as a new financial and strategic partner, and believe this successful fundraising is both a reflection of our team’s accomplishments to-date as well as an endorsement of our strategy and enormous long-term potential to add value to the healthcare system,” Rich Whitney, RP chairman and CEO, said in a prepared statement. “Thanks to our many talented and passionate physicians and support team members and the commitment of our founding investment partner New Enterprise Associates, RP holds a clear leadership position in our market. I am more excited by the opportunities ahead of us than at any time since our founding six years ago.”
Geoff Clark, senior managing director of Starr Investment Holdings, will now be one of two institutional investors with a seat on RP’s board of directors.
“Radiology serves as a critical gateway in guiding appropriate downstream healthcare interventions, and RP is playing a pivotal role in managing the direction, coordination and delivery of proper care,” Clark said in the same statement. “RP is developing new models and technology to positively impact patient care and drive value. We share RP’s vision of a physician-led business and are excited to become a part of what we consider to be a world-class team, helping to support RP in expanding its leadership position.”