Investment firm buys OIA

Nashville-based Outpatient Imaging Affiliates has been sold, with Miami-based investment firm ICV Partners handing off the company to United Kingdom-based The Cranemere Group. 

Terms of the transactions were not disclosed. Founded in 2000, OIA operates 56 imaging centers across 18 markets. OIA partners with health systems, medical centers and radiology groups to operate their imaging centers, including development, management, marketing, billing and collections services. 

ICV Partners bought OIA in 2018 from MedCare Investment Funds. In those three years, the company has increased its outpatient footprint by 20 facilities and expanded into eight states. 

The Cranemere Group is a long-term holding company based in London. In a press release, OIA President and CEO Cannon King said: “Cranemere has the same time horizon, along with a deep understanding of the healthcare industry and an extensive network of relationships with hospitals and health systems.”

“We know that health systems with which OIA partners are focused on their mission of protecting and improving the health of their communities with a horizon of decades and generations, not quarters or years,” he said.