APPI continues acquisition spree

Physician practice management firm American Physician Partners continues its imaging center buying binge. The Dallas company announced last month that it acquired the four imaging centers of WB&A Imaging, a 15-physician radiology practice in Washington, DC. The agreement expands APPI's reach into Maryland and gives the company access to Virginia and the District of Columbia-areas where it has not previously had a presence. WB&A Imaging posted revenues of about $10.7 million for fiscal year 1997 (end-December).

In a separate transaction, APPI reported the purchase of three independent centers, two in California and one in Texas. The three centers had combined net revenues of approximately $5.8 million for the fiscal year ending December 1997.

After going public last fall with seven founding physician practices, APPI has maintained a steady acquisition pace (SCAN 8/19/98). Last month's deals bring APPI's total number of affiliated radiologists to 258 and total number of imaging centers across the U.S. to 79.