Radpartners is continuing its rapid nationwide expansion into 2018 by closing its partnership with Southwest Diagnostic Imaging (SDI). The juggernaut network of radiology practices has secured a $695 million credit facility, a transaction arranged by Golub Capital. According to a press release, “Proceeds of the financing are being used to close the SDI transaction, refinance existing debt and support future growth of the practice.
Radpartners spent 2017 expanding their presence throughout the country. In May, they received a $200 million funding round led by New Enterprise Associates (NEA). Back in October, they grew its staff by 25 percent through the SDI acquisition. They currently have 450 practices in hospitals in 13 states including Georgia, Illinois, Indiana, Iowa, Kentucky, North Carolina, Ohio, Oklahoma, and Texas. They recently announced an affiliation with Baylor College of Medicine.
“With the final closing of the SDI partnership, we are excited to officially welcome these talented physicians to our practice. Our partnership has extraordinary potential,” said Rich Whitney, Radiology Partners’ Chairman and CEO in a press release. “We are also pleased to continue our relationship with Golub Capital. The facility they have arranged includes significant unused committed capital, which will allow us to confidently execute our growth strategy.”