HealthEdge Investment Partners, LLC announced that it has made a majority investment into Rad Source, LLC for an undisclosed price.
Rad Source was founded in 1997 for the purpose of creating non-gamma irradiation alternatives. Rad Source is one of the nation’s largest providers of subspecialty orthopedic and neurological MRI interpretations. It is also a provider of a leading medical imaging technology solution, ProtonPACS, which it launched in 2012 through a partnership with Intelerad.
HealthEdge Investment Partners is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. The company is based in Tampa, Florida.
Avante Capital Partners, LP provided debt financing for the transaction. Hill Ward & Henderson, PA served as legal counsel to HealthEdge. Ziegler & Company served as financial advisor, and Holland & Knight LLP served as legal counsel to Radsource.
According to data captured in the LevinPro HC database, this acquisition represents the 10th Laboratories, MRI and Dialysis transaction of 2024, and the second in the MRI specialty. Throughout 2023, there were six MRI transactions announced.
