LOS ANGELES and ORANGE Counties, Calif., Dec. 18, 2017 /PRNewswire-USNewswire/
-- MemorialCare, nationally regarded integrated health
care delivery system with five hospitals and over 200 Southern California care sites, and RadNet,
Inc. (NASDAQ: RDNT), a national leader in providing
high-quality, fixed-site outpatient diagnostic imaging services
through a network of 298 owned and/or operated outpatient imaging
centers, announced they formed a joint venture. The venture, with
34 outpatient medical imaging centers spanning Orange County, Long
Beach, South Bay and other Southern Los Angeles County cities, will
become Southern California's
largest imaging network.
Under the joint venture, with operations beginning Jan. 1, 2018, RadNet will contribute 24 existing
outpatient imaging centers in Orange
County, Long Beach, South
Bay and other Southern Los Angeles
County cities. MemorialCare will contribute 10 outpatient
imaging facilities in many of those markets. Upon commencement of
operations, RadNet will manage day-to-day operations of the
facilities and provide administration and back-office support
functions on behalf of the partners.
In addition to developing a comprehensive imaging network in
Orange County, Long Beach and Southern Los Angeles County, the partnership
will allow for significant operating system efficiencies and
improved patient access and care. It will include adoption of
RadNet's eRAD Radiology Information System at all locations and
integration and coordination of the radiologist professional
component.
"This is a significant advancement in MemorialCare and RadNet's
shared commitment to value-based health care—offering consumers
high-quality, competitively priced care," says Barry Arbuckle, Ph.D., MemorialCare President
and Chief Executive Officer. "These 34 free-standing imaging
centers, in addition to MemorialCare's highly-advanced
hospital-based imaging centers on each of our hospital campuses,
offer state-of-the art care in the most appropriate, convenient
location, either at an acute care setting and/or outpatient
facility close to home and work. MemorialCare has a long history of
partnering with innovative health care organizations that share our
vision of delivering best practice medicine, improving population
health and creating value in the ever-changing health care
environment. This innovative partnership with RadNet is
another example of our commitment to offering high value care
resulting in higher quality, enhanced patient experience and
savings for individuals and families, health plans and employers
and their employees."
"We are excited to announce the expansion of our health system
partnership model in California
with such a high-quality and well-known health system," says
Howard Berger, M.D., Chairman and
Chief Executive Officer of RadNet. "MemorialCare is one of the
premier providers of hospitals and related health care services in
Southern California. With the
establishment of this joint venture, our combined network of 34
centers will bring an extensive network of imaging centers
providing quality care and easy access to the substantial patient
communities we jointly serve. We are excited to be working with the
referring physicians located throughout the communities in
Orange County, Long Beach, the South Bay and Southern Los Angeles County to ensure their
patients have access to convenient, cost-effective care. We also
look forward to expanding our managed care offering, a
patient-centered contracting model that has been built and refined
over a period of more than 20 years."
MemorialCare intends to purchase five breast imaging centers in
Orange County and Long Beach from the joint venture to expand
access to breast screening and diagnostic services, adding to the
five MemorialCare Breast Centers in MemorialCare hospitals and
local communities, led by Gary
Levine, M.D., past President, National Consortium of Breast
Centers.
About MemorialCare
MemorialCare focuses on
value-based health care, offering the highest quality at a lower
price point and providing a simply better patient
experience. The nonprofit, integrated health system with 14,000
affiliated physicians, employees and volunteers and more than 200
care locations in Southern
California includes five hospitals—Long Beach Medical
Center, Miller Children's &
Women's Hospital Long Beach, Community Medical Center Long Beach,
Orange Coast Medical Center in Fountain
Valley and Saddleback Medical Center in Laguna Hills; MemorialCare Medical Group,
Greater Newport Physicians; numerous physician practices; and
ambulatory surgery, imaging, dialysis and urgent care centers. To
learn more, visit memorialcare.org.
About RadNet, Inc.
RadNet, Inc. is the leading
national provider of free-standing, fixed-site diagnostic imaging
services in the United States
based on the number of locations and annual imaging revenue.
RadNet has a network of 298 owned and/or operated outpatient
imaging centers. RadNet's core markets include California, Maryland, Delaware, New
Jersey and New York. In
addition, RadNet provides radiology information technology
solutions, teleradiology professional services and other related
products and services to customers in the diagnostic imaging
industry. Together with affiliated radiologists, and inclusive of
full-time and per diem employees and technicians, RadNet has a
total of approximately 7,300 employees. For more information, visit
radnet.com.
View original content with
multimedia:http://www.prnewswire.com/news-releases/memorialcare--radnet-inc-announce-joint-venture-creating-largest-most-accessible-medical-imaging-network-serving-los-angeles--orange-counties-300572633.html
SOURCE MemorialCare