Mid-market PE firm Livingbridge is selling its stake in Everlight Radiology, a UK and Australia-based global teleradiology provider, to Radiology Partners (RP), a leading radiology practice in the US.
The combination brings together capabilities from Everlight’s international radiologist network and RP Clinical Services’ vRad unit, the largest teleradiology platform in the US, to form a leader in global teleradiology. Each organisation will continue to serve the markets and clients it serves today, with radiologists reading where they are licensed and credentialed. The two will share technology and clinical standards.
“Everlight has an unmatched global network of subspecialty radiologists, built over 20 years,” said Rich Whitney, chairman and CEO of Radiology Partners. “Together, we can bring the best of what each has built to a growing number of patients and hospitals, delivering more advanced technology, deeper subspecialty support and higher standards of care in every market in which we operate.”
The transaction follows a five-year hold, during which Everlight, founded in 2006, has strengthened its market position, expanded internationally and invested in technology and clinical capability.
“Livingbridge have been an excellent partner to Everlight over the last five years,” said Rob Anderson, global CEO at Everlight. “We are excited for Everlight’s next chapter of growth alongside Radiology Partners as we unlock our vision of becoming partner of choice for radiologists and healthcare providers alike.”
The business has grown its radiologist network, increased reporting capacity and improved service performance, enabling it to meet rising global demand for diagnostic services. Livingbridge believes the company is well positioned to enter its next phase of growth under new ownership, supported by continued investment in its radiologists, operating platform and AI.
“Over the past five years, together, we have helped strengthen the business through investment in the Radiologist Value Proposition, technology, clinical excellence, enabling Everlight to report on more than 2.5 million scans each year and play an increasingly important role in patient care,” said Liz Jones, partner at Livingbridge. “We are incredibly proud of what the team has achieved and excited to see Everlight continue its growth journey.”
Rothschild & Co (Thibault Poirier) and Barclays are financial advisors to Radiology Partners, Jones Day and Kirkland & Ellis are serving as its legal counsel.
Morgan Stanley (Elly Lukenskaite) acted as lead financial advisor to Livingbridge and Everlight Radiology.
