Chicago, IL and Las Vegas, NV (PRWEB) May 26, 2011
Madison Street Capital, LLC (Madison Street Capital) acted as the exclusive financial advisor to DiaTri, LLC in the sale of its subsidiary, Advantage Diagnostic Imaging Center, LLC (ADIC) to the Barney Family Trusts, a private entity based in Las Vegas. The announcement was made today by Charles Botchway, Chief Executive Officer of Madison Street Capital. The transaction team was led by MSC Managing Director Reginald McGaugh.
“The transaction team at Madison Street Capital made extraordinary efforts to facilitate the sale of this entity,” said Kevin Tremblay, DiaTri CEO and membership unit holder of ADIC. “Following Mr. McGaugh’s lead, we evaluated various strategic options over the past few months. The Madison Street Capital team provided exceptional advice in assisting us at every step of the process and was instrumental in completing the divestiture of this entity that was not core to the future growth and strategic direction of DiaTri, LLC.”
Based in Las Vegas, ADIC is a medical imaging center that focuses on providing imaging services to patients that include MRIs, Cat Scans, MRAs, contrast studies, ultrasounds, and x-ray services. With more than 50 specialized radiologists on staff, ADIC strives to provide the most accurate diagnosis available today.
“We are pleased to continue to provide strategic advisory, M&A, and capital-raising services to one of the leading radiology benefit management (RBM) companies in the U.S.,” Reginald McGaugh, Managing Director at Madison Street Capital. “We worked closely with the management team to establish the strategic goals and moved quickly to implement a plan to complete this transaction. We look forward to our continued relationship with Mr. Tremblay and the employees of DiaTri, LLC which provide critical services to some of the nation’s leading Taft-Hartley unions, group health insurance companies, worker’s compensation insurance companies, and healthcare third-party administrators.”
About Madison Street Capital, LLC:
Madison Street Capital is an international investment banking firm that provides mergers and acquisition advisory, financing services, valuation and financial opinion services, and restructuring services to public and private businesses as including asset managers. MSC has focused expertise in partnering with middle-market firms to successfully navigate complex transactions and successfully assist clients in optimizing their potential. MSC’s experienced professionals serve clients across the globe from offices in North America, Asia, and Africa. For more information call us 312 529 7000 or visit our website at: http://www.madisonstreetcapital.com.
About DiaTri, LLC:
DiaTri, LLC is the leader in managing and developing diagnostic nuclear medicine networks and cost-containment programs that bring the payor/patient and provider community together in a mutually beneficial relationship. DiaTri, LLC is an investment holding company with three wholly owned subsidiaries. Midwest Diagnostic Management, LLC is a national radiology network with 3,900 centers in 47 states for scheduling MRIs, CTs, and EMGs. Diagnostic Benefit Management, LLC (DBM) provides diagnostic imaging solutions for the group health market nationally. Advanced Ancillary Services, LLC (AAS) offers a proven program for retrospective negotiations, second-opinion programs, and age of injury reports. For more information go to: http://www.diatri.net.