Great Point Partners, a Greenwich, Conn.-based firm focused on the healthcare investments, has put an undisclosed amount into Aris Teleradiology. Hudson, Ohio-based Aris was formed in 2007 and provides radiology services to hospitals, imaging centers, and radiology groups. Terms of the deal were not released.
Great Point Partners, LLC, a Greenwich-based private investment firm focused on the health care industry, today announced a growth equity investment in Aris Teleradiology, LLC (“Aris”). Founded in 2007 and headquartered in Hudson, OH, Aris is a leading outsourced national provider of professional radiology services to hospitals, imaging centers, and radiology groups.
The Company works in concert with local hospitals and radiology groups to provide a comprehensive hybrid solution by providing high quality radiologist, 24/7 sub specialty coverage, 24/7 operations support and quality assurance data to clients. Aris’ breadth of services allows it to deliver high quality patient care in a cost effective manner to the hospitals, and other health care payors.
The equity investment will fund the sales and marketing efforts, infrastructure and personnel expansion which will position the Company to accommodate and win new hospital contracts. Since its inception in 2007, the company has grown rapidly through new client wins.
“From our first conversations with Great Point last year, we were impressed with their knowledge of the professional radiology space. The rapid increase in demand for outsourced radiology solutions has created challenges as we scale our business and Great Point’s strategic guidance will be of great help. They share our existing partners’ optimism moving forward and will be a valuable addition to our organization in terms of their vision, hospital relationships and understanding of our business,” said Carl Kozlowski, CEO of Aris. “Great Point’s investment will allow us to accelerate our next phase of growth.”
Rohan Saikia of Great Point Partners stated, “Aris has established itself as one of the premier companies in the outsourced professional radiology services space, and we are excited to partner with the strong management team they have already assembled.” Adam Dolder of Great Point Partners added, “Aris is a classic Great Point platform company as it is rapidly growing, well-managed and highly scalable. We look forward to working with the Aris management team to make it a leading national player in the outsourced professional radiology services market.”
About Aris Teleradiology, LLC
Founded in 2007 and headquartered in Hudson, OH, Aris provides professional radiology services to patients, surgeons and healthcare institutions. The Company is a Joint Commission certified radiology services company. The Company works in concert with local hospitals and radiology groups to provide a comprehensive hybrid solution to its clients by providing high quality radiologists, 24/7 sub specialty coverage, 24/7 operations support, and quality assurance data. Aris’ breadth of service and discipline allows it to deliver high quality patient care in a cost effective manner to the hospitals, and other health care payors. Visit www.aristeleradiology.com for additional information.
About Great Point Partners, LLC
GPP, based in Greenwich, CT, is a leading health care investment firm with approximately $450 million of equity capital under management. The firm manages capital in public (the Biomedical Value Fund) and private equity funds (GPP I – a $156 million private equity fund). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. The private equity fund invests in profitable companies across all sectors of the health care industry including behavioral health, biologics manufacturing, health care services, hospital outsourcing, information technology, life sciences, media and reagents, medical devices, rehabilitation, specialty pharmaceuticals, and workers compensation.