Accumen, which is backed by Arsenal Capital Partners, has acquired 3DR, a provider of outsourced post-processing services to hospitals and radiology departments in the U.S. No financial terms were disclosed. Edgemont Partners was financial adviser to 3DR on the deal.
NEW YORK & LOUISVILLE, Kentucky – October 30, 2019 – Edgemont Partners, a leading middle market healthcare investment bank, is pleased to announce that it served as the exclusive financial advisor to 3DR Laboratories (collectively “3DR” or the “Company”) in its sale to Accumen, a portfolio company of Arsenal Capital Partners. 3DR is the largest independent provider of outsourced post-processing services to hospitals and radiology departments in the U.S.
The transaction closed on October 21, 2019 and was led by Jeff Swearingen, Co-Founder and Managing Director, supported by Patrick Bradley, Vice President, and Philip Litmanov, Analyst.
Founded in 2005, 3DR Laboratories has provided post-processing services to hundreds of hospital radiology departments, stand-alone imaging centers, and radiology practices, enabling them to obtain expert processing of their medical imaging cases within hours or even minutes for emergencies. 3DR Laboratories has processed more than 400,000 cases and now has more than 450 active clients nationally. The addition of 3DR Laboratories to the Accumen portfolio of companies allows Accumen to expand its clinical offerings, and add depth to its imaging transformation business, which is focused on improving patient care through meaningful savings and operational efficiencies in imaging departments and centers across the country.
“The Edgemont team, with their deep radiology-specific industry knowledge and transaction experience, expertly navigated us to an outstanding result,” said David Ferguson, CEO of 3DR Laboratories. “Edgemont rapidly developed a detailed understanding of our business and conducted a very tight and well-organized sales process that yielded a fantastic outcome and a great new partner in Accumen.”
“The 3DR transaction is at the intersection of Edgemont’s expertise advising hospital outsourced clinician groups and tech-enabled healthcare businesses. 3DR’s sale to Accumen further reinforces Edgemont’s leading position in the radiology services sector. We are very pleased with the successful outcome for 3DR’s shareholders and believe Accumen is a partner that aligns very well with 3DR’s roadmap for growth,” said Jeff Swearingen.
About 3DR Laboratories
Based in Louisville, KY, 3DR Laboratories provides 24/7 access to expert radiological technologists who perform superior 3D medical image post-processing. The Company is the largest 3D medical post-processing outsourced lab in the U.S. with over 150 employees and more than 450 active clients. For more information, visit www.3drinc.com.
About Arsenal Capital Partners and Accumen
Arsenal Capital Partners is a specialized private equity firm with a deep focus in two sectors, Specialty Industrials and Healthcare. Since its founding in 2000, Arsenal has raised institutional equity investment funds of approximately $5.3 billion. Arsenal has completed more than 150 transactions, including platform portfolio companies and follow-on acquisitions. For more information, visit www.arsenalcapital.com.
Accumen was acquired by Arsenal Capital Partners in January 2019. Accumen utilizes healthcare technology along with expert performance team members to drive significant value to hospital, health system, commercial laboratory and payer clients, providing strategic solutions, services and technology that deliver sustainable performance improvements in operations, clinical services, and data management. These offerings include lab and imaging transformation, consulting, supply chain optimization, lab outreach, patient blood utilization, test utilization, anemia management and clinical data exchange. For more information, visit www.accumen.com.
About Edgemont Partners
Edgemont Partners is a premier investment bank that provides merger and acquisition advisory and growth capital raising services exclusively to healthcare companies. We focus solely on providing expert strategic advice and transaction execution, bringing a steadfast commitment to our clients, driven always by what’s in their best interest. This dedication enables us to deliver independent conflict-free advice, to serve as trusted advisors to healthcare entrepreneurs, management teams and investors, and to execute with exceptional results.
For more information on Edgemont and how we can best serve you, contact Ben Hughes at (646) 632-3967 or visit our website at www.edgemont.com.