Foundation Radiology Group Announces Board Changes
PITTSBURGH, PA, March 17, 2015 – Foundation Radiology Group, one of the nation’s largest providers of radiology services to hospitals, has announced that health care private equity investor and Christopher McFadden has rejoined the company’s board of directors.
The Founding Partner of Canyon Healthcare Partners, McFadden is an experienced investor and board member of high-growth, healthcare companies.
McFadden, who had previously served on the company’s board from 2009 to 2013, rejoins the board as Dr. Chris Olivia, a physician and healthcare executive, and Dan Brailer, a respected Pittsburgh-area business leader, step off the Foundation Radiology board.
“Dr. Olivia and Mr. Brailer have been valued board members and advisors to Foundation during an important phase in the Company’s growth,” said Mr. McFadden. “We are grateful to them for their service.”
These board changes cap a successful year for Foundation Radiology in which the company launched operations at six new hospitals in Ohio, Indiana, Illinois, Pennsylvania and Kentucky, with two more since year end. As of December 31, 2014, Foundation Radiology delivers over one million final radiology interpretations on an annualized basis.
Foundation Radiology Group’s hybrid model allows on-site hospital-based radiologists to coordinate via a single integrated IT platform with additional sub-specialist radiologists operating out of a regional reading facility. This integration allows the company to offer better service levels and cost efficiency than either traditional on-site radiologists, or exclusively off-site radiologists. The company offers 7x24x365 coverage in the Mid-West and Mid-Atlantic regions.
McFadden is the Chair of the board of Mauna Kea Technologies (Euronext: MKEA), and a member of the boards of PharmaShield LLC, ValueCentric, and the Montefiore Medical Center. He was a former board member of Picis, which was acquired by UnitedHealth Group in 2011.
Prior to his role at Health Evolution Partners, McFadden was a Managing Director at Goldman Sachs and a Vice President at Wheat First Union Securities, a regional investment bank acquired by Wells Fargo. He attended Virginia Commonwealth University and received a BA in Finance from the University of Richmond.
About Foundation Radiology Group
Foundation Radiology Group, founded to revolutionize the practice of radiology in community healthcare settings, combines the subspecialty services of a renowned, highly-trained physician team with a state-of-the-art technology solution to provide hospitals, physicians and patients access to a high-quality, elegant diagnostic imaging solution, with industry-leading, final diagnosis clinically relevant turn-around times.
Foundation Radiology Group radiologists are all US-based providers and offer expertise in every subspecialty, including pediatric, neurology, mammography, musculoskeletal, PET/CT, cardiac CT and interventional radiology. Our physicians and highly-skilled customer service team are available 24/7/365.