# Foundation Radiology Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/foundation-radiology-group

- Industry: Healthcare
- Headquarters: Pittsburgh, US
- Website: www.foundationradiologygroup.com
- Total disclosed funding: $10M
- Latest round: Series A (Apr 13, 2009)
- Investors on record: 2

## About

Foundation Radiology Group, based in the US, specializes in providing advanced teleradiology services, enhancing efficiency and accuracy in radiological assessments across various healthcare settings.Foundation Radiology Group, formed in 2007 and headquartered in Pittsburgh, US, focuses on delivering specialized radiology services. The company was previously a portfolio entity of Wellspring Capital Management and recently acquired full ownership of RAYUS Radiology in July 2021. CEO Richard Vance leads the organization, which has executed 5 deals since inception, raising a total of USD 10.00 mn, with the latest funding being a Venture Debt round of USD 6.00 mn from Square 1 Bank.Foundation Radiology Group, through its partnership with RAYUS Radiology, provides advanced teleradiology services tailored to enhance efficiency and accuracy in healthcare environments. Their offerings include optimized onsite and remote subspecialty radiology services for various institutions such as academic medical centers and community hospitals, ensuring comprehensive access to radiology subspecialists around the clock. The service integrates seamlessly with electronic health record systems, facilitating improved image visualization and data exchange.Foundation Radiology Group generates revenue through B2B transactions, focusing on service agreements with healthcare facilities. Their revenue model is structured around customized agreements for teleradiology services that may include subscription and fee-for-service options. The revenue reflects the provision of timely imaging services, aligning with hospitals' quality objectives, and involves a range of specialties, including emergency radiology and neuroradiology.Following their acquisition of RAYUS Radiology in July 2021, Foundation Radiology Group aims to expand its employed radiologist network and increase hospital partnerships. The recent Venture Debt funding of USD 6.00 mn will support these initiatives, driving growth in the radiology sector. The company is focused on strengthening its market presence and enhancing service delivery to meet the evolving demands of healthcare providers.

## Funding rounds

- Series A, Apr 13, 2009, $10M — Chrysalis Ventures, Health Evolution Partners

## Investors

- Chrysalis Ventures (https://capitalatlas.ai/funds/chrysalis-ventures) — Series A
- Health Evolution Partners (https://capitalatlas.ai/funds/health-evolution-partners) — Series A