Radiology services company Onrad has acquired Direct Radiology from Royal Philips to form what Onrad is calling the largest independent teleradiology network in the U.S.
With the acquisition, Onrad said it now provides services to over 550 facilities across the U.S., with more than 160 board-certified radiologists performing more than 7,000 studies per day. Direct Radiology will remain intact and operate as a subsidiary.
“The acquisition enables us to expand our capacity through operational efficiencies, deploy industry-leading AI and technologies, and capitalize on cost-effective economies of scale,” said Onrad CEO and President David Engert in the company’s announcement. Onrad provides remote teleradiology final-read impressions across all healthcare settings and full-service radiology solutions for hospitals.
Direct Radiology was founded in 2012 and is a Joint Commission-accredited practice with approximately 80 radiologists. The company serves more than 430 healthcare facilities nationwide, Onrad noted, adding that Direct Radiology’s President Leandra Hutchinson will continue as president.
Financial terms of the deal were not disclosed.