Radiology deals attract Archimed, Grovecourt, Kain Capital; Latticework and Edgehill back acquisition of CDMO brands

Archimed, a healthcare investment firm, announced a strategic investment in Radiology Partners, the largest physician-led and physician-owned radiology practice in the US. No financial details were disclosed.

Based in El Segundo, California, Radiology Partners has over 3,300 radiologists providing services to more than 3,000 hospitals, clinics, and imaging centers across all 50 states.

Archimed joins existing investors including:

• New Enterprise Associates
• Future Fund
• Partners Group
• Starr Investment Holdings

Grovecourt Capital, a private equity firm, acquired a significant minority equity stake in US Radiology Specialists, a leading outpatient imaging company. The deal was announced in early 2024.

Charlotte, North Carolina-based US Radiology has over 180 outpatient imaging centers and more than 5,000 team members across 15 states.

Grovecourt Capital joins existing investors:

• Welsh, Carson, Anderson & Stowe
• Hologic

Kain Capital, a growth equity firm focused on the healthcare services and technology sectors, made a strategic investment in Rayus Radiology in November 2023.

Headquartered in St Louis Park, Minnesota, Rayus operates more than 150 imaging centers across 22 states.

Rayus is a portfolio company of Wellspring Capital Management.

Latticework Capital Management has announced that its portfolio company, Precision Aesthetics, completed its acquisition of DefenAge Skincare. This marks Precision Aesthetics’ second add-on acquisition since Latticework’s original investment in July 2023. Financial terms were not disclosed.

DefenAge is a premium dermatological skincare brand sold through dermatology and aesthetic clinics.

Based in Dallas, Latticework Capital Management is a private equity firm focused on the healthcare industry.

Also this week, Edgehill Investments announced that its portfolio company, Life Science Connect (LSC), acquired Scientific Bioprocessing (SBI). Financial terms were not disclosed. This marks the third add-on acquisition for LSC since Edgehill’s initial investment.

SBI is a biotechnology company specializing in advanced sensor technology solutions for bioreactors and other bioprocessing equipment.

New York-based Edgehill Investments is a private equity firm focused on investments in the North American middle market.