XMS Capital Partners, LLC (“XMS”), a global, independent financial services firm focused on providing M&A, corporate advisory and asset management services, announced that it served as financial advisor to StatRad LLC (“StatRad” or the “Company”) on its sale to I-MED, an Australia-based radiology provider. The acquisition was completed on July 1, 2024.

Established in 1995, StatRad is one of the leading tech-enabled teleradiology service companies in the United States. StatRad has over ninety credentialed, U.S. based radiologists on staff performing reads for hundreds of clients and thousands of patients every day.

StatRad focuses on quality and operational excellence with its proprietary QA program, joint commission accreditation, FDA 510(k) clearance, and ISO certifications. The Company offers rapid and seamless client services across imaging modalities.

Claude Hooton, CEO of StatRad, commented that “StatRad was not looking to be sold but we felt that becoming part of I-MED would be the best long-term strategy for clients. Over the years, we’ve had requests from a multitude of organizations to buy our company. Our discussions never progressed very far because it was not the right thing to do for our clients, radiologists, or employees. I am grateful to Brian, Frank, Nicky, and the broader XMS team for helping StatRad initiate and navigate the complex, but fruitful, discussions with I-MED. We could never have done this without them”.

Brian Brownschidle, Managing Director at XMS noted, “StatRad is led by a world-class team dedicated to delivering superior quality teleradiology services to clients. Across the globe, after a multi-year review of multiple vendors, I-MED recognized StatRad’s unique combination of talent, technology, processes, and presence as its leading partner of choice.”