Area of Focus Diagnostic Imaging
Partnership Date 2021
Headquarters Franklin, Tennessee
We know that health systems, with which OIA partners, are focused on their mission of protecting and improving the health of their communities with a horizon of decades and generations, not quarters or years. Cranemere has the same time horizon, along with a deep understanding of the healthcare industry and an extensive network of relationships with hospitals and health systems.
Company Profile
A leading U.S. provider of outpatient diagnostic imaging services and the market leader in JV hospital partnerships
Outpatient Imaging Affiliates (“OIA”) is a scaled outpatient imaging platform and a market leader in developing joint ventures (JVs) with leading health systems to build and operate outpatient imaging centers. OIA’s health system partners benefit from more effective execution, patient retention within the health system, improved earnings, and higher patient satisfaction.
The business is led by Cannon King alongside a management team with more than sixty years of experience managing freestanding and hospital-based imaging centers. The company was founded in 2000 and is headquartered in Franklin, Tennessee. It operates 60 outpatient centers in 19 markets and 18 states.
The team has established long-term, value-added partnerships with the health systems, academic medical centers, and radiology groups to develop, market, and operate quality, patient-friendly, service-oriented outpatient imaging centers.
Partnership Highlights
- Cranemere acquired majority ownership of OIA, with members of OIA’s management team retaining a meaningful ownership stake in the company, in October 2021.
- Leveraging Cranemere’s vast hospital/health systems network and deep healthcare operating experience, Cranemere will support OIA’s further growth while it maintains its focus on high service levels for patients and health systems partners.
- With its enduring health system relationships and demonstrated track record of strong operating performance and growth, OIA is well positioned to capture the large growth opportunity ahead in outpatient imaging. Since the OIA and Cranemere partnership, the company has completed two tuck-in acquisitions.