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Optimal Reading Services Group, Inc. Receives Investment from Health Evolution Partners

Posted on: Thursday, 4 June 2009, 16:02 CDT

Investment Positions Optimal for Expansion in Medical Imaging Management

For Hospitals, Clinics and Radiology Groups

BIRMINGHAM, Ala., June 4 /PRNewswire/ -- Optimal Reading Services Group, Inc., a US-based, leading provider of medical imaging optimization services for hospitals, imaging centers and radiology groups, announced today that the Health Evolution Partners Growth Fund has made a substantial investment in Optimal. The investment provides Optimal with funds to accelerate its expansion throughout the United States and to continue its innovation efforts in select international markets. Optimal is on pace to read and optimize the throughput of over 2 million medical imaging studies annually, and the new investment provides capital for additional growth.

"Demand continues to increase for our unique method of filling the operational gaps that exist in medical imaging, and this investment from Health Evolution Partners enhances our vision and strategy," stated Craig Parker, CEO of Optimal Readings. "This is not simply an investment in our company, but an important addition to our capabilities by providing access to Health Evolution Partners' unique market knowledge. Our partnership with Health Evolution Partners will open new doors and will deliver important insights that will expand our competitive advantage in this vital area of health care."

David J. Brailer, MD, PhD, Chairman of Health Evolution Partners, explained, "A transformation of medical imaging is rapidly unfolding, driven by technology, cost pressures and changes in work desires among radiologists. A new generation of companies is coming into the forefront. Optimal understands the value of partnering with hospitals and others to improve care delivery. They are well-positioned to lead this marketplace and bring a new generation of solutions into widespread use."

Optimal provides a wide array of image interpretation services, technology consulting, physician recruiting, professional billing and a host of related ancillary services, all designed to optimize and improve the quality of radiology services in hospitals and radiology groups. Optimal features experienced radiologists for full and after-hours coverage, certified subspecialists, high-end medical image analysis technology and proven patient-centric quality methods. For each of its customers, Optimal provides a single source for radiology optimization, imaging management and PACS, HIS and RIS solutions integration knowledge.

Both Brailer and Adam Grossman will represent Health Evolution Partners on Optimal's board of directors.

About Optimal Readings

Optimal Readings provides services to optimize and improve the quality of radiology services in hospitals and radiology groups. Optimal features access to experienced radiologists for full and after-hours coverage, certified subspecialists, and proven patient-centric quality methods. Through workload re-balancing and technologically-enhanced processes, Optimal enables healthcare delivery organizations to interpret an increased volume of radiology studies with accelerated turnaround times and minimal operational costs. Optimal constructs tailor-made radiology study interpretation services, integrates on- and off-site clinical staffs and implements a comprehensive system designed to maximize patient care in a cost-effective approach. For each of its customers, Optimal provides a single source for imaging and PACS advice, integration knowledge and radiology optimization. For more information on Optimal Readings, visit www.optimalreadings.com.

About Health Evolution Partners

Health Evolution Partners is a manager of health care investment funds. It invests across the health care industry, from early stage to buyouts and from services to technologies. Health Evolution Partners invests in companies it views as leaders in the new era of value-based, cost-effective and consumer-driven health care. For more information on Health Evolution Partners, visit www.healthevolutionpartners.com.

SOURCE Optimal Reading Services Group, Inc.

Source: PR Newswire

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