Radiology services provider Imaging Advantage has signed a definitive agreement to be purchased by physician services firm Envision Healthcare.
For Envision, the acquisition will significantly expand its radiology physician services. After the deal is completed, Envision's physician services segment will include more than 800 board-certified or board-eligible radiologists who serve more than 500 healthcare facilities and interpret more than 10 million studies each year, according to Envision.
In a statement, Imaging Advantage founder and CEO Naseer Hashim said the merger will create an integrated platform for radiologists and leverage the company's radiology care model. The company also recognizes the strategic value of being a part of Envision's multispecialty service offering, as well as the value of providing a sole-source option for hospitals, Hashim said.
Terms of the agreement were not disclosed. The companies expect to complete the transaction during the second quarter, subject to customary conditions such as the expiration of early termination of the waiting period applicable under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.