Radiology Partners (RP), the top radiology practice in the U.S. and its affiliated practices, has successfully concluded a series of financial transactions. These include a $720 million growth equity investment, an exchange offer for existing notes, and an amendment to its credit facilities.
“We are delighted to have concluded the final stages of our comprehensive financing plan, positioning us with the resources and flexibility to further expand our clinical services and advance our technology and AI capabilities,” stated Rich Whitney, RP’s Board Chair and CEO. “The significant equity raise, one of the largest in the healthcare industry in recent years, reflects the strength of our practice, our leadership position in healthcare, and the value we bring to patients and client partners.”
“This marks a pivotal and exciting moment for RP,” said Dr. Rod Owen, RP radiologist and Board Director. “Continued support from our equity and lender partners reinforces our mission and sets the stage for our continued success. We are moving forward as a stronger practice, better equipped to revolutionize radiology and serve patients and healthcare providers.”
Dr. Nina Kottler, RP’s Associate Chief Medical Officer for Clinical AI, emphasized, “The future of radiology hinges on investments in people, processes, and advanced technology at scale. The steps RP is taking today will enable us to make these critical investments, enhance patient care, and solidify our leadership role as AI continues to shape our field.”
With these transactions now completed, RP has achieved the following milestones:
- Raised approximately $720 million in new equity financing from existing and new investors.
- Significantly reduced debt and extended outstanding debt maturities, with new maturity dates ranging from 2028 to 2030.
- Retained over $500 million in cash and liquidity to fuel ongoing growth and innovation investments.
Legal counsel to RP was provided by Kirkland & Ellis LLP and Sidley Austin LLP, while Moelis & Company LLC and Barclays Capital Inc. served as financial advisors. Gibson Dunn LLP and Centerview Partners acted as legal and financial advisors to certain RP lenders.
About Radiology Partners
Radiology Partners, the leading technology-enabled radiology practice in the U.S., serves over 3,300 hospitals and healthcare facilities nationwide through its owned and affiliated practices. As a physician-led and physician-owned practice, RP aims to revolutionize radiology by innovating across clinical value, technology, service, and economics, while elevating the role of radiology and radiologists in healthcare. Through a proven healthcare services model, Radiology Partners delivers consistent, high-quality care to patients while providing enhanced value to the facilities and physicians it serves.
