Merger positions the group among the nation’s largest independent, privately-held radiology practices
ST. PAUL, Minn. – The shareholders and boards of two of the Twin Cities’ largest independent radiology groups, St. Paul Radiology (SPR) and Suburban Radiologic Consultants (SRC), announced the decision to merge their two professional organizations. Beginning April 1, the combined radiology professional practice will be known as Midwest Radiology. Together, these organizations have histories and accomplishments that extend back nearly 100 years.
Only the professional components will merge, meaning that all interpretations and procedures performed by radiologists will be conducted under the new Midwest Radiology brand. Outpatient imaging services will continue to be offered at ten imaging center locations that will continue to operate under their current brand names, Suburban Imaging and St. Paul Radiology.
“While this was a complex decision that took many months of careful analysis, we are confident that this merger is in the long-term interests of both of our organizations and the health systems, referring clinicians and patients we serve,” said SPR and future Midwest Radiology President and Chief Executive Officer Michael T. Madison, MD. “This merger will help strengthen both practices and will enable us to be better equipped to expand and serve our customers in the Midwest region for many years to come.”
The merger positions Midwest Radiology as one of the largest independent, privately-held radiology practices in the United States. While the national trend for radiology groups has been to either merge or be acquired by hospital systems or venture capital firms, this merger will help Midwest Radiology remain independent while reaching the critical mass needed to ensure a strong organization focused on local communities.
The purpose of the Midwest Radiology merger is to allow us to offer our hospital partners, referring physicians and patients with the following:
Midwest Radiology physicians can now provide around-the-clock subspecialty interpretations using cutting-edge technology, and offer immediate 24/7/365 service, regardless of patient condition.
With combined clinic and hospital partnerships, the group will expand to include more local communities in the Twin Cities area, outstate Minnesota, Western Wisconsin and North Dakota. Midwest Radiology now serves more than 75 hospitals and clinics throughout the Midwest, and 10 affiliated imaging centers in the Twin Cities.
The merger brings together more radiologists in more subspecialties, which means accurate interpretations and consultations when and where they are needed. Additionally, improved recruiting capabilities provide hospitals and patients with only the best radiologists.
Operating responsibly and efficiently means that Midwest Radiology has the capability to offer superior quality and value to patients, and remain on the leading edge of patient care and service.
“We saw an opportunity to provide an exceptional standard of care for patients while creating a more stable organization that can remain competitive as the health care industry evolves,” said Nihar S. Shah, MD, Co-President of SRC. “With more resources, talent, expertise and resources on hand, we can better support the hospitals and physicians we serve and deliver complete and accurate interpretations more efficiently. This helps the physicians we support provide fast, effective care for their patients.”
About Midwest Radiology
Midwest Radiology is the combined professional radiology practice of St. Paul Radiology and Suburban Radiologic Consultants. With more than 150 subspecialty-trained radiologists, Midwest Radiology provides radiology services to more than 75 hospitals and clinics throughout the Midwest, and operates 10 outpatient imaging centers in the Twin Cities under Suburban Imaging and St. Paul Radiology.