Teleradiology services provider Virtual Radiologic has completed its acquisition of fellow teleradiology firm NightHawk Radiology.
Virtual Radiologic of Eden Prairie, MN, paid $6.50 per share, or approximately $170 million, in cash for all outstanding shares of NightHawk of Scottsdale, AZ.
The combined organization will offer radiology practices and hospitals access to 325 affiliated radiologists, more than 75% of whom are fellowship-trained subspecialists, according to the firms. These radiologists will serve nearly 2,700 healthcare facilities across all 50 states and read more than 7 million studies a year, the companies said.
Virtual Radiologic president and CEO Rob Kill said that the firms remain committed to partnering with local radiologist clients, not competing with them.
Related Reading
Waiting period over for VRad, NightHawk merger, November 11, 2010
Lawsuits filed after NightHawk, VRad deal, September 28, 2010
Virtual Radiologic bids for NightHawk, September 27, 2010
Report: Remote radiology market is active, fragmented, September 14, 2010
Virtual Radiologic forms NY alliance, August 30, 2010
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