National medical group Mednax has completed its previously announced acquisition of teleradiology provider Virtual Radiologic (vRad).
Mednax bought vRad for $500 million, which includes the assumption of certain net operating loss carryforwards.
Based on vRad's current results and expected annual noncash depreciation and amortization expense of approximately $20 million, Mednax anticipates the acquisition will add an initial $25 million in annualized operating income. This contribution is likely to increase in the foreseeable future, based on expected percentage growth in revenue at vRad in the high single digits, Mednax said.
