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08.14.18
Excellere Partners Announces Two Add-on Acquisitions for it’s Medlogix Portfolio Company

Denver, CO, August 14, 2018 - Excellere Partners, a Denver-based private equity firm focused on partnering with entrepreneurs and management teams in emerging growth companies, announced today that its portfolio company, Medlogix, LLC (“Medlogix”) has acquired Minneapolis, Minnesota-based Integrity Medicolegal Enterprises (“Integrity”), and Southfield, Michigan-based Michigan Evaluation Group (“MEG”) – two premier providers of independent medical examinations (IMEs), medical record reviews, peer reviews, and related services.

Medlogix seeks to deliver a comprehensive suite of innovative medical claims management services to insurance carriers, claims administrators, and employers in the auto, workers’ compensation, and group health markets by leveraging its robust technology-enabled platform and deep clinical expertise. The acquisition of Integrity and MEG represents a strategic combination of clinically focused organizations that are dedicated to delivering effective and quantifiable claims management solutions to their carrier and administrator clients.

“Integrity, MEG and Medlogix all share a culture of commitment to deliver exceptional medical outcomes that drive increased client satisfaction,” said Craig Goldstein, President of Medlogix.  “Our partnership with these two organizations will greatly expand our physician network, add unique domain expertise, and further augment our ability to deliver a comprehensive suite of solutions to a growing base of clients in the Midwest corridor. Our collective customers are going to be very pleased with the expansion of our resources and enhanced ability to service their needs.”

Matt Hicks, Partner with Excellere, added, “Medlogix has been a leader within its core markets for more than 20 years, so we’re excited to be supporting the management team in executing their vision for delivering innovative medical claims management solution on a national scale.  With Integrity and MEG, we found two like-minded organizations with parallel cultural values and excellent, long-standing reputations for quality, service, and client satisfaction.”

About Medlogix
Medlogix is a technology-driven, clinically-based medical claims management provider specializing in managed care solutions that deliver exceptional outcomes. Medlogix offers an end to end, integrated medical management solution powered by MyMedlogix® proprietary technology.  Through an exception-based workflow, recommendations from highly qualified medical professionals, and access to a directly contracted network of premier health care providers, Medlogix delivers an efficient, disciplined, and scalable medical claims process suite of solutions. Medlogix develops technology which achieves savings you can measure and see by eliminating redundancies and reducing manual processes.  Learn more about the Medlogix story at www.medlogix.com.

About Excellere Partners
Excellere Partners is a Denver-based private equity firm with $1.36 billion of committed capital across Fund I, Fund II and Fund III, specializing in partnering with entrepreneurs and management teams.  The firm employs a proven research-driven, top down investment strategy, and supports its entrepreneurs and management teams with a proprietary value creation process designed to enhance corporate and operational infrastructure for scalability and growth.  Excellere’s investments are focused on differentiated and growth oriented companies positioned to benefit from industry consolidation and favorable macro-economic and demographic trends.  Excellere’s targeted industry sectors include: healthcare services and products; energy, power and infrastructure services and products; industrial technology, specialty chemicals; and business services.  For more information about Excellere, please visit https://www.excellerepartners.com.

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04.05.18
Premier Imaging Ventures Announces Name Change to LucidHealth

New brand reflects the organization's evolution and vision for the future

COLUMBUS, Ohio, April 5, 2018 /PRNewswire/ -- Premier Imaging Ventures, a physician-owned and -led radiology management company, today announced its name change to LucidHealth.

"Our business has evolved significantly over the last several years, and our new name is more reflective of who we have become and where we are going as an organization," said Marcia Flaherty, CEO of LucidHealth. "Today, we have the proven technology and talent to bring about real change in the radiology community, and our new brand reinforces the clarity we deliver to our physician partners about their future."

The brand's name change reflects LucidHealth's vision for the future of radiology — one that will enable private radiology groups to do more and perform better. LucidHealth's belief is simple: All patients should have access to the highest quality subspecialized imaging care, regardless of facility size or location. In keeping consistent with its vision and belief, LucidHealth's mission is to empower physician-led radiology groups with the technology and resources necessary to deliver world-class, subspecialized care to all patients within the communities they serve.

Central to LucidHealth's offering is superior technology. RadAssist is a proprietary application that allows disparate systems to be combined into a single workflow. This innovative software also manages diagnostic images across multiple platforms and enhances work processes for physicians. This increases efficiency, improves quality of care, lowers costs for patients and delivers better outcomes. RadAssist, built by radiologists, for radiologists, offers real-time clinical and operational analytics and has been in clinical use for over 10 years.

"Our technology allows radiologists to offer industry-leading turnaround times, exceptional subspecialized care and analytics that prove clinical value," said Mark Alfonso, M.D., chief medical officer of LucidHealth. "LucidHealth consolidates our unique assets, allowing us to offer other groups cost-effective, revolutionary technology that elevates access to care."

About LucidHealth
LucidHealth is a physician-owned and -led radiology management company. We partner with radiology groups to provide the technology and resources to increase the strategic value of their practices nationwide. Our belief is that all patients should have access to the highest quality of subspecialized imaging care, regardless of facility size or location. Our mission is to empower independent radiology groups to deliver world-class, subspecialized care to all patients within the communities they serve. For more information, please visit http://www.lucidhealth.com.

About Riverside Radiology and Interventional Associates
Riverside Radiology and Interventional Associates, a LucidHealth company, is a leading provider of professional radiology services to hospitals and other healthcare providers. Formed in 1980, Riverside Radiology and Interventional Associates is one of the largest private radiology practices in the United States. By using its proprietary software, Riverside Radiology has developed industry-leading workflow and clinical processes and a broad spectrum of physician support services. For more information, please visit http://www.riversiderad.com.

Media Contact:
Kelley Holsten
Sales & Marketing Operations Manager

SOURCE LucidHealth

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02.06.18
Consolidated Services Group Looks to the Future with a Powerful New Branding Campaign and Visual Identity

Hamilton, NJ (February 6, 2018) Medical claims management innovator Consolidated Services Group (CSG) today introduced a new national brand identity designed to unify its brand and convey its industry-leading proficiency managing complex claims and exceptions.

Beginning on February 6, 2018, CSG will change its name to Medlogix®, which aligns the company’s corporate brand with its groundbreaking Medlogix® technology. The company also unveiled a new logo and introduced the tagline, “Expect exceptional,” as part of the brand refresh.

“We are proud of our CSG name and the distinguished brand it represented for over three decades. However, we made the strategic decision to evolve our brand identity to reflect the transformative growth and development our company is undertaking,” said President Craig Goldstein. “Medlogix® is a strong name that evokes smart medical decisions grounded in logic.  It enjoys significant brand recognition in our key markets and we believe that, paired with our new tagline and graphic style, it conveys the complexity of what we do in a positive, compelling way.”

Since announcing a major investment by the private equity firm Excellere Partners in June 2017, CSG has hired key senior managers, steadily expanded its team, and advanced its sales and service capabilities to support its continued growth.

“We consider this another in a series of great milestones for our company. Together with our strong industry reputation for achieving great outcomes in complex markets and rock solid client relationships, we believe a unified brand can help us leverage company awareness to attract top talent in markets across the United States,” Goldstein said. “The Medlogix® brand will propel us into the future with claims management professionals and solutions that consistently rise to the challenge of taking on the toughest cases and most difficult markets on behalf of our clients.”

As a medical claims management innovator, Medlogix® delivers a proven mix of technology and medical expertise that enables its clients to confidently navigate some of the most highly regulated markets with the largest exposures producing maximum returns. The company’s offerings include seamless collaboration through its proprietary Medlogix® technology; recommendations from highly qualified medical professionals; and access to a national network of premier health care providers. CSG’s national PPO network offerings will be marketed under MedlogixPPO™, with its flagship CHN PPO retaining its current brand.

About Medlogix®
Medlogix® (formerly Consolidated Services Group) is a technology-driven, clinically based medical claims management provider. We offer a comprehensive solution for streamlining insurance claims, backed by more than 35 years of claims management experience and powered by advanced technology. Our complete, integrated solution, includes seamless collaboration through our proprietary technology; recommendations from highly qualified medical professionals; and access to a nationwide network of premier health care providers. What makes us truly different, however, is the standard we set for ourselves in terms of service to our customers. It begins by coming to work each day with the goal of improving upon everything we do. Whether it's our process, our technology, an idea that advances the Industry, or any aspect of the customer experience, we are committed to making a positive impact. And it is why we can say with confidence, "Expect exceptional." Visit www.medlogix.com to learn more.

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11.05.17
Urgent care clinics have taken off in the past decade — and it shows that health care businesses acting like Amazon will gain an edge
  • Going to the doctor isn't a very good experience.
  • To survive, health care businesses need to start thinking about the customer.
  • It's more important than any policy decision Washington makes.
  • Urgent care centers are an example of applying the Amazon model to health care.

Why is it that when I walk into a restaurant or store where I'm spending $15, I'm often treated better than when I go to a doctor's office where I'll easily spend $150?

We've all been there. Sick and suffering, you wait hours for the doctor's office to have an opening, and you limp into their lobby. A grump at the front desk pushes a clipboard at you, and you spend 15 minutes filling out a paper form with the same information you've provided twelve times before. There is a long wait, and you need to postpone an important call with your office.

It is that experience, to which we've become all-too accustomed, that will be the life or death of many healthcare businesses in the next ten years - much more so than any policy decision made out of Washington.

As more cost is borne by consumers, and healthcare demand and expense rapidly expands, healthcare models will need to change.

Just look at the way urgent care centers have taken off in the past decade.

Urgent care doesn't offer care that's unique to what any doctor or emergency room provided in the past. They've had success on the basis of easy parking and extended hours. Any healthcare business that is acting like Amazon, by taking the service to the customer, will gain an edge.

This 'consumerization of healthcare' is just one of the private sector dynamics to watch.

We have an aging population, a diabetes wave building on the horizon and genomics breakthroughs that can utterly shuffle the deck for how healthcare is delivered.

Insurance policy will have some sway on profits. But ultimately, any business that is wholly dependent on being paid by insurers based on numbers of patients and billable services is already on the wrong side of the trend.

What type of companies will succeed?

Beyond catering to the consumer, there are other earmarks of successful healthcare companies in this new healthcare order.

For instance, investors should be on the lookout for anyone who has a shot at curing a disease. In our current healthcare system, we're great at managing symptoms and conditions. We need a moonshot breakthrough, just to show that it can be done. Companies and researchers with any chance at developing cures for cancer, Alzheimer's or ALS are worth funding.

Next, we aren't addressing the healthcare system's major cost drivers — chronic illnesses and injuries, the brain injuries, strokes, cardiac issues, diabetes, the knee and hip replacements. Instead, we focus on acute injuries and sicknesses -- colds, flu, broken legs. This emphasis is unwise.

Any company that can create systemic change to prevent and manage chronic illness through technology or new therapeutic models will win. Companies that use technology to allow chronically ill patients to better manage their condition or enable them have a more fulfilling life will be successful.

Take a stroke survivor, for example. Instead of that person being in an institution, imagine a care model where he or she could be at home and cared for less expensively. We need to reduce hospitalizations, emergency room visits, and custodial care.

Third, care coordination remains highly fragmented among multiple stakeholders whose interests aren't always aligned. People want more and better care. Insurers want to grow revenue and pay out less . Providers and the government need to reduce costs. How can such competing interests deliver value? Honestly, I'm not sure it can be done. But we've got to do better.

Finally, Americans increasingly believe, as most of the rest of the world already does, that healthcare should not be denied for financial reasons. That raises questions about who pays for what costs and what kind of care and services are considered universally accessible and affordable. Solving for that is a major actuarial and societal challenge, and anyone who can determine how to cover these bases will have a good story to tell.

I'd be willing to bet that some smart entrepreneurs have answers to many of these big problems. And that means the healthcare industry is about to get much healthier in the next ten years. Let's hope we all do, too.

Mike Geldart is a partner at Excellere Partners, a private equity firm in Denver, CO, specializing in healthcare with investment experience in urgent care, pain management, anesthesiology, radiology, specialty pharmacy, pharma services and manufacturing, and life sciences.

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08.25.17
Excellere Partners Announces Investment in Biocare Medical, a Leading Provider of Immunohistochemistry Instrumentation and Reagents
Investment Represents 1st Platform in Excellere Capital Fund III, L.P.

Denver, CO, August 25, 2017 - Excellere Partners, a Denver-based private equity firm focused on partnering with entrepreneurs and management teams, announced today that it has made a strategic investment in Biocare Medical (“Biocare”), a leading provider of immunohistochemistry (IHC) instrumentation, as well as a full range of reagents for IHC and molecular testing.  The Biocare partnership represents the first platform investment in Excellere Capital Fund III, L.P.

An innovator in the sector, Biocare is a market leader in simultaneous Multiplex IHC tests, which provide increased confidence at critical diagnostic decision points, improving patient therapy while accelerating turnaround time.  “We’re thrilled to have the opportunity to partner with Roy Paxton Yih and the entire Biocare team, and are excited to support their vison for building a best-in-class industry leader focused on IHC and molecular diagnostic products,” said Ryan Glaws, Partner at Excellere. “We identified the reagents and diagnostics products sector several years ago as an attractive area in which to execute Excellere’s value creation strategy.  We have dedicated significant resources to pursuing a reagent platform that has a differentiated product offering, global customer base, commitment to R&D, and a passionate leadership team.  In Biocare, we have found both an exceptional business as well as a proven management team,” continued Mr. Glaws.

Biocare’s partnership with Excellere will provide the strategic and financial resources to enhance and accelerate the company’s growth opportunities.  To this end, Biocare management and Excellere intend to implement a multi-faceted growth strategy comprised of foundational investments that further enhance Biocare’s scalable infrastructure; identified organic growth initiatives in existing and new markets; and complementary strategic partnerships with other leading reagent and diagnostic businesses.

“We have an outstanding opportunity to partner with Excellere, which has a proven track record of supporting founder-led businesses in achieving transformative growth.  Over the last 20 years we have not only built a strong and growing company, but more importantly, have developed innovative products that enhance the disease diagnosis and monitoring process and ultimately save lives.  While we had many options, we chose Excellere as our partner based on their track record and passion for supporting emerging growth companies.  We believe that our product suite and service model uniquely position Biocare to meet the evolving demands of clinicians and researchers across the globe,” said Roy Paxton Yih, Biocare co-founder and Chief Executive Officer.

“This partnership is perfectly aligned with our firm’s founding philosophy to invest in entrepreneurial healthcare businesses that are patient-centric, while also creating value for the clinicians, institutions, and other stakeholders in the healthcare ecosystem.  Together, Biocare management and Excellere will further strengthen the company’s presence, not only in the U.S., but in other attractive markets by partnering with leading reagent and diagnostic tools businesses as well as expanding the company’s product offering.” Mr. Glaws explained.

About Biocare
Biocare is a market leader in IHC and molecular diagnostic reagents, including simultaneous Multiplex IHC tests that provide increased confidence at critical diagnostic decision points, positively influencing patient therapy while accelerating turnaround time.  The company’s customers include clinical and hospital laboratories, pharmaceutical companies, and biotechnology companies as well as academic, government, military, and other non-profit laboratories.  Biocare offers an expanding portfolio of integrated products to address the rapidly growing cancer and infectious disease diagnostic and research markets with novel tissue immunohistochemistry and in situ hybridization methods.  The company is headquartered in Pacheco, CA, and has a global distribution network.  Visit www.biocare.net to learn more.

About Excellere Partners
Excellere Partners is a Denver-based private equity firm with $1.36 billion of committed capital across Fund I, Fund II and Fund III, specializing in partnering with entrepreneurs and management teams.  The firm employs a proven research-driven, top down investment strategy, and supports its entrepreneurs and management teams with a proprietary value creation process designed to enhance corporate and operational infrastructure for scalability and growth.  Excellere’s investments are focused on differentiated and growth oriented companies positioned to benefit from industry consolidation and favorable macro-economic and demographic trends.  Excellere’s targeted industry sectors include: healthcare services and products; energy, power and infrastructure services and products; industrial technology, specialty chemicals; and business services.  For more information about Excellere, please visit https://www.excellerepartners.com

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06.21.17
Excellere Partners Announces Strategic Investment in Leading Medical Claims Management Provider Consolidated Services Group (CSG)
Investment Represents 11th Platform in Excellere Capital Fund II, L.P.

Denver, CO, June 21, 2017 - Excellere Partners, a Denver-based private equity firm focused on partnering with entrepreneurs and management teams, announced today that it has made a strategic investment in Consolidated Services Group (CSG), a leading technology-enabled and clinically-based medical claims management provider serving auto insurance carriers, workers’ compensation administrators and group health insurers, specializing in managed care, utilization review and bill review services.  The CSG investment represents the eleventh platform investment in Excellere Capital Fund II, L.P.

An innovator in the sector, CSG delivers a comprehensive suite of proven medical claims management solutions, clinical expertise, and proprietary preferred provider organization that enable its clients to confidently navigate the entirety of the medical claims management process—from initial filing through close. CSG’s offerings include seamless collaboration through its proprietary technology platform, medlogix®; recommendations from highly qualified medical professionals; and access to a national network of premier health care providers.

“Controlling medical claims costs while improving outcomes represents a significant challenge to insurance carriers, administrators and health plans across the country,” said Matt Hicks, Partner at Excellere Partners. “Excellere looks to partner with organizations that offer innovative ways to address these challenges and CSG is a strong fit for that criteria. Given CSG’s exceptional customer value position, its highly experienced management team, and the valuable benefits its technology and services deliver to insurance providers, injured parties and all stakeholders in the claims process, we are thrilled to support this team and help achieve its vision for growth.”

“At CSG, the desire to improve outcomes drives everything we do. Excellere’s philosophy and experience around supporting clinical outcomes-centric businesses clearly sets them apart,” said Craig Goldstein, CEO at CSG. “The entire Excellere team intuitively understood the CSG value proposition and we look forward to advancing the industry with fresh ideas and delivering unmatched value to our clients nationwide as they make informed choices for their medical claims management needs.  As we embrace this new partnership, we will look to deploy new growth capital to further our technology platform, engage new markets and acquire new, complementary capabilities, while maintaining the highest standards of innovation, performance, service and integrity.”

About Consolidated Services Group
Consolidated Services Group (CSG) is a technology-driven, clinically-based medical claims management provider specializing in managed care, utilization review and bill review services. CSG offers a complete, integrated solution, including seamless collaboration through our proprietary medlogix® technology; recommendations from highly qualified medical professionals; and access to a nationwide network of premier health care providers. CSG’s powerful mix of medical expertise, proven processes and innovative technology delivers a more efficient, disciplined insurance claims process. The result is lower expenses and increased productivity for the auto insurance and workers’ compensation insurance carriers, third party administrators (TPAs) and government entities we serve. Visit www.csg-inc.net to learn more.

About Excellere Partners
Excellere Partners is a Denver-based private equity firm with $1.36 billion of committed capital across Fund I, Fund II and Fund III, specializing in partnering with entrepreneurs and management teams.  The Firm employs a proven research-driven, top down investment strategy, and supports its entrepreneurs and management teams with a proprietary value creation process designed to enhance corporate and operational infrastructure for scalability and growth.  Excellere’s investments are focused on differentiated and growth oriented companies positioned to benefit from industry consolidation and favorable macro-economic and demographic trends.  The Firm’s targeted industry sectors include: healthcare services and products; energy, power and infrastructure products and services; industrial technology, specialty chemicals and services; and business services.  For more information about Excellere, please visit https://www.excellerepartners.com

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01.10.17
Excellere Partners Announces Its Investment in Two Labs Marketing
Investment Represents 10th Platform in Excellere Capital Fund II, L.P.

Denver, CO, January 10, 2017 - Excellere Partners, a Denver-based private equity firm focused on partnering with entrepreneurs and management teams, announced today that it has made a strategic investment in Two Labs Marketing, a leading provider of product commercialization solutions to pharmaceutical manufacturers, offering strategic consulting and implementation services throughout the full product lifecycle. The Two Labs Marketing investment represents the tenth platform investment in Excellere Capital Fund II, L.P.

Founded in 2003 and headquartered in Powell, Oho, Two Labs Marketing provides innovative solutions for pharmaceutical manufacturers’ most prevalent commercialization challenges. The company leverages more than 13 years of experience and over 115 discrete product launches to implement proven strategies that are customized to each client’s therapeutic class, distribution channel and patient needs. Through its comprehensive commercialization services offering, the company manages clients’ product launch, compendia and lifecycle management, trade management, product state licensing compliance and e-prescribing management services.

David Kessenich, Co-Founder and Managing Partner at Excellere Partners, commented, “Our thesis in outsourced pharmaceutical services is based on a number of favorable industry trends, including the increased utilization of pharmaceuticals in patient treatment regimens, the sustained growth in specialty pharmaceuticals and the complexity associated with the distribution and administration of these therapies, and a continued trend toward outsourcing non-core functions among pharmaceutical manufacturers. Solutions providers, such as Two Labs, that act as strategic partners to pharmaceutical companies, and offer an exceptional customer value proposition are optimally positioned to benefit from these trends. We are thrilled to support Rich and his team as they continue to pursue their vision for growth.”

Rich Wartel, Founder and CEO of Two Labs, said, “A tremendous opportunity exists for Two Labs to further support our customers by enhancing our existing service capabilities, as well as strategically adding new solutions to the Two Labs portfolio. My team and I were in search of a partner that shared our vision for growth and could help us to achieve our goal of becoming the preeminent commercialization and lifecycle management partner for pharmaceutical manufacturers. We believe that we found such a partner in Excellere, which has substantial experience and resources within the outsourced pharma services industry and a proven track record of supporting management teams in growing healthcare businesses like ours.”

Together, Two Labs’ senior management and the Excellere team will seek to augment the company’s service portfolio through the development of additional value-added solutions, enhance the company’s proprietary technologies and tools, extend its geographic footprint, and expand its customer base through a targeted buy-and-build strategy.  Brad Cornell, Partner at Excellere Partners, said, “Two Labs is in a unique position to build upon its established brand reputation and recognized subject-matter- expertise to deliver more value to customers by adding complementary service capabilities and enhancing its existing solutions. We are excited to work with management to identify organic growth opportunities and strategic acquisitions that will allow Two Labs to solidify its position as the leading provider of commercial strategy and implementation services for pharmaceutical clients.”

About Two Labs
Two Labs is a leading provider of strategic consulting and implementation services to pharmaceutical companies, providing services across multiple stages of the drug development and commercialization process for a wide array of therapeutic areas. The company was founded in 2003 and is headquartered in Powell, Ohio.  For more information about Two Labs, please visit http://twolabsmarketing.com/.

About Excellere Partners
Excellere Partners is a Denver-based private equity firm with $1.36 billion of capital across three funds, and specializes in partnering with entrepreneurs and management teams. The Firm employs a proven research-driven, top down investment strategy, and supports its entrepreneurs and management teams with a proprietary value creation process designed to enhance corporate and operational infrastructure for scalability and growth. Excellere’s investments are focused on differentiated and growth oriented companies positioned to benefit from industry consolidation and favorable macro-economic and

demographic trends. The Firm’s targeted industry sectors include: healthcare services and products; energy, power and infrastructure products and services; industrial technology, specialty chemicals and services; and business services. For more information about Excellere, please visit https://www.excellerepartners.com

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11.07.16
Excellere Partners Announces Strategic Investment in Riverside Radiology and Interventional Associates
Investment Represents Excellere’s 9th Platform in Excellere Capital Fund II, L.P.

Premier Imaging Ventures (“PIV”), the exclusive management services provider to Riverside Radiology and Interventional Associates (“Riverside” and combined with PIV, the “Company”) is pleased to announce the recent closing of a strategic growth partnership with Excellere Partners (“Excellere”).  Incorporated in 1980, Riverside is one of the ten largest radiology practices in the U.S. with 90 subspecialized physicians serving more than sixty facilities across Ohio and providing over 1.6 million annual interpretations.

Riverside has developed a unique, proprietary technology solution resulting in innovative workflow processes that drive exceptional clinical quality and efficiency and data analytics capabilities that are required to meet evolving reimbursement models.   The partnership with Excellere will provide the strategic and financial resources to enhance the Company’s business development capabilities and to pursue partnerships with other progressive radiology practices across the United States.  To this end, Riverside’s physician leaders, senior management and the Excellere team intend to implement a growth strategy comprised of foundational investments that further solidify Riverside and PIV’s scalable infrastructure; identified organic growth initiatives in existing and new markets; and complementary strategic partnerships across the U.S.

“We found an exceptional opportunity to partner with Excellere which has a proven track record of supporting physician practices in achieving transformative growth strategies.  The model that we have created maintains physician ownership and leadership of the clinical practice, provides compelling shareholder opportunities for younger physicians, and significant equity ownership for current and future physician-partners.  Our group was united in this decision and we believe that our radiology service model uniquely positions us to meet the evolving demands of our nation's healthcare delivery system as a radiologist-led enterprise,” said Dr. Mark Alfonso, Chief Medical Officer of the Company.

Marcia Flaherty, CEO of PIV, added “Riverside has a long track record of success by maintaining a focus on the best interests of the patients we serve with our hospital partners.  This progressive decision to align with a trusted, well respected, visionary investment partner demonstrates our enterprise-wide commitment to keeping the patient at the center of all we do.​   Our partnership with Excellere is consistent with our goals of remaining physician-owned and physician-led and offers an exciting future for our younger physician-partners.”

“We identified the radiology industry several years ago as a great segment of healthcare in which to execute Excellere’s value creation strategy.  We have dedicated significant resources to pursuing a radiology platform that had a patient-centric clinical model, differentiated technology and a passionate leadership team.  In Riverside, we have found an exceptional partner,” said David Kessenich, an Excellere Co-Founder and Managing Partner.

“Excellere is excited to be partnering with the physicians and management team of Riverside and PIV.  Their commitment to exceptional patient care, along with their facility partners and an innovative workflow technology solution, makes the Company the ideal platform from which to pursue a strategic growth strategy in the radiology services industry.  This partnership is perfectly aligned with our firm’s founding philosophy to invest in entrepreneurial healthcare businesses that are focused and dedicated to providing high quality patient care; while also creating value for the physicians, facilities and payers.  Together, Riverside and Excellere will further strengthen the Company’s presence, not only in Ohio, but in other attractive geographies by partnering with other leading radiology practices and expanding its service offerings.” Kessenich explained.

KeyBank Capital Markets served as the exclusive financial advisor to the board of directors of Riverside Radiology and Interventional Associates and Premier Imaging Ventures.

About Riverside Radiology
Riverside Radiology and Interventional Associates is a leading provider of professional radiology services to hospitals and other healthcare providers.  Formed in 1980, Riverside is one of the largest providers of radiology services in the U.S. and along with its affiliates, Premier Imaging Ventures, Lucid Radiology and Central Ohio PACS System, has developed industry-leading workflow and clinical processes and a broad spectrum of physician support services.  For more information about Riverside, please visit http://www.riversiderad.com

About Excellere Partners
Excellere Partners is a Denver-based private equity firm with $1.36 billion of capital across three funds, and specializes in partnering with entrepreneurs and management teams.  The Firm employs a proven research-driven, top down investment strategy, and supports its entrepreneurs and management teams with a proprietary value creation process designed to enhance corporate and operational infrastructure for scalability and growth.  Excellere’s investments are focused on differentiated and growth oriented companies positioned to benefit from industry consolidation and favorable macro-economic and demographic trends.  The Firm’s targeted industry sectors include: healthcare services and products; energy, power and infrastructure products and services; industrial technology, specialty chemicals and services; and business services.  For more information about Excellere, please visit https://www.excellerepartners.com

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