Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Washington Radiology Associates, P.C. (WRA) to Solis Mammography, a portfolio company of Audax Private Equity. BGL’s Healthcare & Life Sciences team served as the exclusive financial advisor to WRA in the transaction. The specific terms of the transaction were not disclosed.
Founded in 1948 and based in Fairfax, Virginia, Washington Radiology Associates (WRA) is the market leader in women’s health imaging services in the Washington metropolitan area, with six locations in Washington, DC, southern Maryland, and northern Virginia. Supported by an experienced provider base of 27 radiologists and 90 medical imaging technologists, WRA offers a full spectrum of radiology services, including mammography, ultrasound, bone density, MRI, CAD, CT, general x-ray, and related services. Since its inception, the practice has been innovative in its use of technology to diagnose and treat patients. WRA was the first practice group in the United States to be accredited for ultrasound and among the first in the nation accredited for MRI and mammography by the American College of Radiology. In addition, WRA is a national leader in advising in the development of regulatory and reimbursement policy for radiology.
Based in Addison, Texas, Solis Mammography (Solis) is the nation’s largest independent provider of mammography services operating 30 centers across Arizona, North Carolina, Ohio, and Texas. Audax Private Equity acquired Solis in 2015 as a growth platform to execute a national buy-and-build strategy in women’s imaging services.