June 12, 2023
West Palm Beach, FL – Grovecourt Capital Partners ("Grovecourt"), a private equity firm based in West Palm Beach, FL, is pleased to announce its acquisition of Premier Radiology Services (“Premier”), a leading provider of teleradiology services based in Miami, FL. Financial terms of the transaction were not disclosed.
Premier has established itself as a trusted name in the industry since 2006, providing reliable and accurate interpretations of medical images to patients in 48 states through its innovative technology-enabled platform. With a robust network of approximately 100 radiologists, Premier interprets nearly 2 million medical images per year for a diverse range of customers, including mobile imaging providers, occupational health centers, urgent care providers, and outpatient clinics.
"We are thrilled to partner with Drew Gaudet and the talented team at Premier Radiology Services," said Matt Bergin, Managing Partner at Grovecourt. "Premier's expertise as a market leader in teleradiology aligns perfectly with our strategy of improving patient care and delivering best-in-class service for customers in the healthcare sector. We’re excited to work with Premier to provide support and capital to accelerate the Company’s growth trajectory."
Alex Vargas, Managing Partner at Grovecourt Capital Partners, added, "Premier Radiology Services has developed an exceptional customer base, bolstered by a world-class network of radiologists, while demonstrating a remarkable track record of growth. We look forward to strengthening Premier’s position as a leader in teleradiology by supporting its organic growth initiatives as well as through strategic M&A."
Drew Gaudet, CEO of Premier, expressed his excitement about the partnership, saying, "Joining forces with Grovecourt Capital Partners is an exciting opportunity for Premier. Our primary mission has always been to provide accurate and efficient radiology reads to our customers so they can provide the best care possible for their patients. With this partnership, Premier is thrilled to be able to grow while remaining focused on fulfilling our mission. With Grovecourt by our side, we will attract even more skilled radiologists as we continue to invest in our technology and our talented team.”
Greenberg Traurig acted as legal advisor to Grovecourt, and Capitala Group and Siguler Guff provided financing for the transaction.
About Premier Radiology Services
Based in Miami, FL, Premier Radiology Services is a leading provider of teleradiology services offering 24/7 coverage across a range of modalities and sub-specialties. With a network of about 100 radiologists, Premier interprets approximately 2 million medical images per year for a wide range of customers, serving the needs of mobile imaging providers, occupational health centers, urgent care providers, and outpatient clinics. For more information, visit www.premierradiologyservices.com.
About Grovecourt Capital Partners
Grovecourt Capital Partners is a private equity firm based in West Palm Beach, FL, specializing in investments in founder-led and family-owned businesses in the lower middle market. With a focus on business services, healthcare services, communication services, and industrials, Grovecourt partners with management teams to execute both organic and inorganic growth opportunities, optimize performance, and create long-term value. For more information, visit www.grovecourtcapital.com.
