Transaction Expands MemorialCare’s Integrated Delivery Services and Furthers Integration of Convenient, Community Health Facilities
LOS ANGELES COUNTY & ORANGE COUNTIES, CA: MemorialCare announced today that its MemorialCare Medical Foundation physician division has concluded negotiations to solely own eight free-standing, community-based imaging centers that are conveniently located throughout Orange County and Greater Long Beach.
Late last week, MemorialCare Medical Foundation—51 percent stakeholder in Wave Imaging LLC—acquired the remaining 49 percent ownership. This resulted in MemorialCare Medical Foundation becoming the sole owner of Wave Imaging LLC’s MemorialCare Imaging Centers in Long Beach, Huntington Beach, Newport Beach, Irvine and Laguna Niguel.
Wave Imaging LLC is also acquiring assets of three imaging centers owned by Strategic Medical, a leading regional provider of advanced diagnostic imaging services. The three Imaging Centers—Invision Imaging in Newport Beach, Saddleback Valley Radiology in Laguna Hills and Long Beach PET Imaging Center—will be rebranded as MemorialCare Imaging Centers like its five Wave Imaging sister centers. Additionally, Wave Imaging LLC has entered into a management agreement with Strategic Medical to operate and manage all eight of the Wave imaging centers.
The imaging centers offer a number of critical diagnostic imaging technologies and services—from multiple highly sophisticated state-of-the-art and wide bore MRI, advanced PET-CT and nuclear medicine capabilities to regular and cardiac CT, fluoroscopy, ultrasound and more. The centers feature ddigital technology which provides immediate remote access capabilities for physicians to view their patients’ images. A ninth free-standing facility, MemorialCare Imaging Center San Clemente, is owned and operated by MemorialCare.
All the imaging centers are accredited by the American College of Radiology with certified radiologists and technologists and the most advanced technologies and services. The radiologist teams at the eight Wave Imaging Centers will be comprised of more than 10 physicians with decades of combined experience, as well as 75 clinical and support personnel.
“The expansion of Wave Imaging creates one of our region’s largest, most comprehensive networks of state-of-the-art outpatient imaging facilities providing convenient access to consumers from Long Beach to San Clemente,” says Barry Arbuckle, PhD, president & CEO of MemorialCare in Southern California. “This greatly benefits patients, referring physicians, employers and health plans that have multiple options and access to a comprehensive imaging network of outpatient and inpatient facilities throughout the region.”
Complemented by the highly specialized imaging services offered at MemorialCare’s six hospitals, the free-standing centers strengthen MemorialCare’s position as a growing integrated health care delivery system with more than 200 care locations throughout the Southland.
“The expansion of high quality imaging centers that play a major role in diagnosing medical conditions provides more convenient options for MemorialCare’s growing patient base in Los Angeles and Orange counties,” says Mark Schafer, M.D., CEO of MemorialCare Medical Foundation, which includes more than 2,000 physicians who are part of its MemorialCare Medical Group and its Independent Practice Association—Greater Newport Physicians, plus ambulatory surgery, urgent care and imaging centers.
MemorialCare and Strategic Medical share similar values in providing high quality, convenient and comfortable patient care. Both organizations are committed to delivering evidence-based, best practices medicine; achieving the best clinical outcomes that exceed state and national averages; controlling health care costs; employing professionals with talent, compassion and expertise; and offering patients a superior choice in health care services.
“Our innovative approach and dedicated focus to our patients will enhance the experience we deliver,” says Antony Clarke, CEO of Strategic Medical, which is based in Newport Beach. “Streamlining the operations of multiple imaging centers and leveraging our combined size will create economies of scale that improve the efficiency of each facility.” Strategic Medical has a proven track record of delivering high quality, cost-effective diagnostic imaging services in convenient, state-of-the-art outpatient settings.