M&A Deal Summary

Pediatrix Acquires Virtual Radiologic

On May 18, 2015, Pediatrix acquired information technology company Virtual Radiologic from Providence Equity Partners for 500M USD

Acquisition Highlights
  • This is Pediatrix’s 2nd transaction in the Information Technology sector.
  • This is Pediatrix’s largest (disclosed) transaction.
  • This is Pediatrix’s 46th transaction in the United States.
  • This is Pediatrix’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2015-05-18
Target Virtual Radiologic
Sector Information Technology
Buyer(s) Pediatrix
Sellers(s) Providence Equity Partners
Deal Type Add-on Acquisition
Deal Value 500M USD
Advisor(s) Credit Suisse Investment Banking (Financial)
Kirkland & Ellis (Legal)

Target

Virtual Radiologic

Eden Prairie, Minnesota, United States
Virtual Radiologic Corp. (VRAD) is a teleradiology services provider for all modalities.

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Buyer(S) 1

Buyer

Pediatrix

Sunrise, Florida, United States
Category Company
Founded 1979
Sector Healthcare Services
Employees5,450
Revenue 2.0B USD (2023)
DESCRIPTION
Pediatrix's corporate headquarters in Sunrise, Florida.
Pediatrix's corporate headquarters in Sunrise, Florida.

Pediatrix is a medical group that comprises the nation's providers of neonatal, anesthesia, maternal-fetal and pediatric medical and surgical subspecialty services. Pediatrix is reshaping the delivery of care within its specialties and subspecialties using evidence-based tools, continuous quality initiatives and clinical research to enhance patient outcomes and provide high-quality, cost-effective care. Pediatrix was founded in 1979 and is based in Sunrise, Florida.

DEAL STATS #
Overall 46 of 81
Sector (Information Technology) 2 of 3
Type (Add-on Acquisition) 46 of 81
State (Minnesota) 1 of 2
Country (United States) 46 of 81
Year (2015) 4 of 9
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-01 Texas Ear Nose & Throat Consultants P

Houston, Texas, United States

Texas Ear, Nose & Throat Consultants PPLC is a specialized, child-centered practice for the care of patients from infancy to 18 years of age. Comprehensive care and state of the art technology are available for all conditions relating to the ear, nose and throat. Patients with conditions as wide ranging as chronic ear infection, head and neck neoplasms, congenital anomalies and vascular malformation, airway problems, sinus disease, voice /speech difficulties, and hearing assessment are cared for by our staff of five physicians and our on-staff audiologists.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-03 Commonwealth Neonatology

Richmond, Virginia, United States

Commonwealth Neonatology, Inc. is a neonatal physician provider. Commonwealth Neonatology a full-time clinicians (10 neonatologists and nine advanced practitioners).

Buy -

Seller(S) 1

SELLER

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.

DEAL STATS #
Overall 49 of 100
Sector (Information Technology) 3 of 8
Type (Add-on Acquisition) 23 of 40
State (Minnesota) 1 of 1
Country (United States) 33 of 68
Year (2015) 5 of 10
Size (of disclosed) 26 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-28 UFO Moviez India

Mumbai, India

UFO Moviez India is a digital cinema chain, currently pioneering the use of MPEG-4 technology based Digital Cinema System. This enables the delivery and projection of motion pictures through electronic transmission method, via a satellite. UFO Moviez India was founded in 2004 and is based in Mumbai, India.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-24 Lightcast

Boston, Massachusetts, United States

Lightcast is a provider of labor market analytics software that delivers real-time data and planning tools to educators, employers, and public sector constituents. Lightcast was founded in 1999 and is based in Boston, Massachusetts.

Buy -
Mergr

Product

Company

Legal