The investment amount was not disclosed. However, Smart Choice noted it is the MRI provider’s “largest [investment] to date.”
Smart Choice said the investment is the company’s third from a hospital system since late 2015.
“We’re excited UCHealth has chosen to partner with us and provide us with our largest capital infusion to date,” Smart Choice CEO Rick Anderson said. “When it comes to health services, consumers want more control over their expenses and options. UCHealth understands this movement, and its investment will help us increase consumers’ access to a new experience in MRIs.”
Overall, Smart Choice said hospital systems and strategic investors have given $22 million in capital investment to the company. Along with that investment has come growth. The company said it started with two Wisconsin clinics and now has nearly 20 locations across Illinois, Wisconsin and Minnesota, including two new locations opening in September. The company also noted plans to open locations in Colorado.
More articles on healthcare finance:
5 health organizations receive grants from UnitedHealthcare to improve access to rural healthcare
How a critical access hospital bounced back from the brink of bankruptcy: 5 questions with Carthage Area Hospital CFO Rob Bloom
10 recent hospital, health system outlook and credit rating actions
