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Teleradiology provider Foundation grabs another $1M investment

April 10, 2012 12:56 pm by | 0 Comments

Radiology outsourcing company Foundation Radiology Group has raised $1 million, according to a regulatory document.

Pittsburgh-based Foundation’s latest funding comes in the form of debt and follows another $1 million fundraise that was revealed in a regulatory document earlier this year.

Foundation typically doesn’t raise capital in discrete A, B and C funding rounds. Instead, the company periodically pulls in small amounts of investment capital that are revealed in federal regulatory documents.

Foundation’s customers are hospitals primarily in the Northeast, eastern Midwest and East Coast regions of the U.S.

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Earlier this month, Foundation announced that it would begin providing customers with centralized batch reading of screening mammography. That involves establishing an uninterrupted block of time designated to interpret a group of screening mammograms in succession.

Batched reading decreases false positives and call-back rates for patients, according to Foundation.

Foundation’s major investors are Chrysalis Ventures and Health Evolution Partners. Foundation has raised approximately $25 million in its lifetime.

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Brandon Glenn

By Brandon Glenn MedCity News

Brandon Glenn is the Ohio bureau chief for MedCity News.
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