WindRose Health Investors, LLC, the New York-based healthcare private equity firm, announced that it has completed a strategic investment in CIVIE (“CIVIE” or the “Company”), an AI-powered ecosystem of radiology solutions. The Company’s proprietary technology platform and artificial intelligence solutions are purpose-built to help radiology practices and hospital systems optimize revenue, enhance productivity, streamline operations, and improve patient outcomes. The terms of the transaction were not disclosed.
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WindRose partnered with the management team of Collaborative Imaging (“Ci”), a radiologist-owned management service organization, to acquire Ci’s technology platform and form CIVIE. WindRose’s investment and experience scaling tech-enabled healthcare services solutions will enable CIVIE to accelerate its growth trajectory, further develop its innovative technology platform, and enhance its operations and sales capabilities. CIVIE’s comprehensive cloud-based platform integrates revenue cycle and imaging workflow solutions, including radiology information systems, picture archiving and communication systems, vendor neutral archive, and automated speech to text solutions. Ci’s management team, headed by CEO Dhruv Chopra, will transition to CIVIE and continue to lead the Company in its next phase of growth.
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“We are thrilled to partner with WindRose and embark on an exciting new chapter as CIVIE,” said Mr. Chopra. “We believe WindRose is the perfect partner to support the Company’s growth strategy of delivering innovative and disruptive revenue cycle and imaging workflow solutions to the radiology industry. With WindRose’s investment, CIVIE will continue to deliver meaningful value to its clients while also focusing on ways to enhance the platform and drive additional efficiencies to counter the economic pressures being faced by radiology practices and imaging centers.”
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“Through its end-to-end technology solution, CIVIE is uniquely positioned to support radiology and imaging practices that are experiencing intensified headwinds from physician shortages, increasing volumes, and declining reimbursement. CIVIE delivers a differentiated, data-driven solution with a proven ability to unlock significant value for its clients. We are excited to partner with Dhruv and the CIVIE team to further expand the innovative platform they have built,” said Bren Hall, Partner at WindRose.
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Source – prnewswire
