National radiology group Aris Radiology has discontinued operations and ceased all services, effective March 13. The shutdown occurred after its lending agency apparently declined to provide the company with additional funding.
Repeated attempts to contact Aris for more details have been unsuccessful. However, in a March 6 email obtained by AuntMinnie.com, the group told clients: "Given that our lending agency has decided to no longer fund us, we are in a position where we unfortunately will be ceasing and desisting operations on or before March 13."
The company's website is now password-protected, and the firm's phone greeting confirms that Aris is no longer operating.
Founded in 2007, Aris provided teleradiology services for preliminary and final interpretations via its network of subspecialized radiologists to hospitals and health systems in the U.S. It also offered onsite radiology coverage with general radiologists. The firm said in 2017 that it had more than 250 radiologists who interpreted approximately 2.5 million imaging studies for over 300 clients.
In 2011, venture capital firm Green Point Partners invested in Aris, but the status of that investment is now listed as "exited" on its website. The investment had preceded a period of rapid expansion for Aris in the early and middle part of the decade.
Aris purchased radiology services firm Pediatric Radiology of America in 2013, acquired radiology group Optimal Radiology in 2015, and bought teleradiology services provider USTeleradiology in 2016.
In 2017, the firm also landed prominent customers for its pediatric teleradiology services, such as Lucile Packard Children's Hospital Stanford in Palo Alto, CA, and Children's Hospital of Orange County in Orange, CA.
