Two private-practice radiology groups in the Western U.S. have united to form Covalent Radiology, which will offer radiology interpretation and management services.
Covalent was formed by Radiology Imaging Assoc. (RIA) of Denver and South Texas Radiology Group of San Antonio. The company was created "for the benefit of radiologists" and is owned by member physicians; Covalent's board of directors consists entirely of physicians.
Covalent's launch comes as the radiology services industry consolidates, putting growing pressure on radiology groups to sell out to corporate interests. Covalent is designed to provide a vehicle for radiology practices that want to remain independent and be led by physician management, according to President Dr. Peter Ricci, a neuroradiologist based in Denver.
Covalent's CEO is Bill Ziemke, who has 20 years of experience as a C-suite executive. Ziemke will lead Covalent Radiology and its sister company, Covalent Healthcare Management, a full-service management services organization.
