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M&A Deal Summary

ONRAD Acquires Direct Radiology

On January 7, 2025, ONRAD acquired healthcare services company Direct Radiology from Philips

Acquisition Highlights
  • This is ONRAD’s 2nd transaction in the Healthcare Services sector.
  • This is ONRAD’s 2nd transaction in the United States.
  • This is ONRAD’s 1st transaction in Washington.

M&A Deal Summary
Date 2025-01-07
Target Direct Radiology
Sector Healthcare Services
Buyer(s) ONRAD
Sellers(s) Philips
Deal Type Divestiture

Target

Direct Radiology

Bothell, Washington, United States
Direct Radiology is a Joint Commission-accredited practice with approximately 80 radiologists serving more than 430 healthcare facilities nationwide. Direct Radiology was founded in 2012 and is based in Bothell, Washington.

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Buyer(S) 1

Buyer

ONRAD

Riverside, California, United States
Category Company
Founded 1998
Sector Healthcare Services
DESCRIPTION

ONRAD is a teleradiology company, offering remote read capabilities to hospitals, radiology groups, and imaging centers. ONRAD was founded in 1998 and is based in Riverside, California.

DEAL STATS #
Overall 2 of 2
Sector (Healthcare Services) 2 of 2
Type (Divestiture) 1 of 1
State (Washington) 1 of 1
Country (United States) 2 of 2
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-10 Shafaie Enterprises

Chicago, Illinois, United States

Shafaie Enterprises LLC is a operator of radiology imaging center.

Buy -

Seller(S) 1

SELLER

Philips

Amsterdam, Netherlands
Category Company
Founded 1891
Sector Consumer Products
Employees69,062
Revenue 18.2B EUR (2023)
DESCRIPTION
Philips office building in Prague, Czech Republic.
Philips office building in Prague, Czech Republic.

Philips is a diversified health and well-being company with products that include cardiac care, acute care and home healthcare, oral healthcare, and male shaving and grooming. Koninklijke Philips was founded in 1891 and is based in Amsterdam, Netherlands.

DEAL STATS #
Overall 16 of 17
Sector (Healthcare Services) 2 of 3
Type (Divestiture) 13 of 14
State (Washington) 1 of 1
Country (United States) 4 of 4
Year (2025) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-14 Vesper Medical

Wayne, Pennsylvania, United States

Vesper Medical is a medical device company dedicated to the development of a novel venous stent for the treatment of a variety of venous diseases. The Company had achieved CE Mark and has initiated the VIVID trial in the US for FDA approval. Vesper Medical was founded in 2016 and is based in Wayne, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-28 Philips Emergency Care Business

Amsterdam, Netherlands

Philips Emergency Care Business operates in over 130 countries with a large installed base of more than 3 million Automated External Defibrillators (AEDs) and Advanced Life Support (ALS) devices worldwide. Philips Emergency Care Business is based in Amsterdam, Netherlands.

Sell -
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