Medical Resources continues to generate momentum in the consolidating imaging center industry. The Hackensack, NJ, company this month announced that it plans to add another 10 centers to its burgeoning network by acquiring the assets of Capstone
Medical Resources continues to generate momentum in the consolidating imaging center industry. The Hackensack, NJ, company this month announced that it plans to add another 10 centers to its burgeoning network by acquiring the assets of Capstone Management Group.
Acquiring the Capstone centers will add to the critical mass Medical Resources is building in the northeast. Nine of the Capstone centers are in that region, with another facility located in Ohio. The centers have combined annual revenues of $12 million.
Medical Resources agreed to pay $10 million in cash and common stock for the centers, and to assume Capstone debt. The Capstone acquisition would bring the number of centers in the Medical Resources network to 76.
Medical Resources this month also released its financial results for the first quarter of 1997 (end-March). Thanks to its acquisition spree, revenues boomed to $40.6 million, up 125% compared with $18 million in the first quarter of 1996. The company posted net income of $3.6 million, compared with $1.3 million in the same period a year ago. In addition to the growth generated by acquisitions, same-center sales increased 14%, according to president and COO William Farrell.
In other Medical Resources news, the company this month finalized its acquisition of ATI Centers and bought two imaging centers in Maryland that operate open MRI scanners.
A Victory for Radiology: New CMS Proposal Would Provide Coverage of CT Colonography in 2025
July 12th 2024In newly issued proposals addressing changes to coverage for Medicare services in 2025, the Centers for Medicare and Medicaid Services (CMS) announced its intent to provide coverage of computed tomography colonography (CTC) for Medicare beneficiaries in 2025.
The Reading Room: Artificial Intelligence: What RSNA 2020 Offered, and What 2021 Could Bring
December 5th 2020Nina Kottler, M.D., chief medical officer of AI at Radiology Partners, discusses, during RSNA 2020, what new developments the annual meeting provided about these technologies, sessions to access, and what to expect in the coming year.
ACR Collaborative Model Leads to 35 Percent Improvement with Mammography Positioning Criteria
July 1st 2024Noting significant variation with facilities for achieving passing criteria for mammography positioning, researchers found that structured interventions, ranging from weekly auditing of images taken by technologists to mechanisms for feedback from radiologists to technologists, led to significant improvements in a multicenter study.
New Study Shows Non-Radiologists Interpreting 28 Percent of Imaging for Medicare Patients
June 28th 2024While radiologists interpreted approximately 99 percent of all non-cardiac CT, MRI and nuclear medicine studies in hospital and emergency department settings for Medicare beneficiaries, new research shows significantly less radiologist review of cardiac imaging and office-based imaging.