Imaging outsourcing firm Foundation Radiology completes $6M Series A1

Imaging outsourcing company Foundation Radiology Group has completed a $6 million Series A1 round, sourced from previous investors.

The company plans to use the funding to expand into new markets, but Chief Financial Officer Barbara Beaudin declined to offer more specifics. Pittsburgh-based Foundation has clients in five states — Pennsylvania, New York, Virginia, Kentucky and Michigan, Beaudin said.

Foundation is an imaging services company that has on-site and teleservices for hospitals and other health centers. Its services include neuroradiology, mammography, cardiac CT, pediatric radiology and general radiology, among others.

Near the beginning of the year, Foundation said that it had raised $4 million of its Series A1 round. Last year, Foundation bagged a $10 million Series A round that it planned to use to hire new radiologists and expand its diagnostic imaging and radiology services office.

Louisville, Kentucky-based Chrysalis Ventures led the round, accompanied by Health Evolution Partners and Foundation’s management team.

The company has 75 employees, which includes those who work at the Pittsburgh office and others who work on-site with hospitals and health centers, Beaudin said. The most recent client publicly announced by Foundation was Leighton, Pennsylvania-based Blue Mountain Health System, in January.

Photo from flickr user ansik