Virtual Radiologic

News

Virtual Radiologic to buy teleradiology rival Nighthawk for $170M

Virtual Radiologic Corp. is becoming the undisputed king of teleradiology. The newly private company in Eden Prairie, Minnesota, said Monday it would buy top rival NightHawk Radiology Holdings Inc. for $170 million, or $6.50 a share. The deal would give the combined company $278 million in annual revenue and access to 325 radiologists serving 2,700 healthcare facilities in all 50 states.

News

Virtual Radiologic’s $294M sale to private equity firm closes

Providence Equity Partners has completed its $294 million purchase of radiology outsourcing firm Virtual Radiologic Corp. (NASDAQ: VRAD). The agreement to take Virtual Radiologic private was first announced in May. With shareholder approval of the transaction, Virtual Radiologic will cease trading on the Nasdaq and be delisted, according to a statement. The $17.25 per-share deal […]

News

ev3 latest Minnesotan medical technology company to cash out

Given Wall Street’s turmoil of late, it’s not too surprising that buyers would search for bargains, especially struggling medical device companies with promising technology and awful balance sheets. Case in point: Medtronic Inc.’s (NYSE: MDT) $370 million purchase of ATS Medical Inc. in Plymouth, Minn. But ev3 Inc. (NASDAQ: EVVV) and Virtual Radiological Corp. (NASDAQ: […]

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Weak capital markets claim another victim: Virtual Radiologic Corp.

There was every reason to expect Virtual Radiologic Corp. (NASDAQ: VRAD) to become Minnesota’s next medical technology star. The company, based in Eden Prairie, was one of the last local firms to go public, raising $68 million from its initial public offering in November 2007. Virtual was one of only two national players to dominate […]

News

Virtual Radiologic Corp. sold for $294M, will go private

Minnesota’s public medical companies not named Medtronic Inc. are continuing their disappearing act, with Virtual Radiologic Corp. (NASDAQ: VRAD) heading private after a $294 million acquisition closes. The radiology outsourcing firm, which went public in a $68 million IPO three years ago, has agreed to be purchased by Rhode Island-based private equity firm Providence Equity […]

Devices & Diagnostics

EnteroMedics retools, refocuses to win FDA approval

Someday, in the not-so-distant future, EnteroMedics Inc. officials might look back at late 2009 and laugh. Or cry. That ultimately depends on whether the Food and Drug Administration ultimately approves or rejects the company’s groundbreaking Maestro device. Approval means enormous financial success, the only implantable neurostimulation device in the United States designed to treat obesity. […]