Mednax to Sell its Radiology and Teleradiology Business: The Signify View
Published: July 8, 2020
16th June 2020 – Written by Arun Gill – Featured on HealthTech HotSpot – Earlier this month saw Mednax announce significant plans to transform its business. Mednax intends to:
- Sell its Mednax Radiology Solutions business, which includes its radiology groups and the teleradiology market leader Virtual Radiologic (vRad).
- Reposition itself as a dedicated pediatrics and obstetrics business, including a return to its original company name, Pediatrix Medical Group.
Mednax made its entrance into the radiology business following the $500m acquisition of vRad in 2015. It has since continued its growth strategy of acquiring significant local radiology groups and imaging practices, with its tenth practice added in January 2020. Since 2016, overall revenues for Mednax have grown from $3.2bn to $3.5bn in 2019, an increase of 10%; however, EBITDA has suffered a 24% decline over this four-year period.Share on LinkedIn