WindRose Health Investors, a New York-based healthcare private equity firm, announced it has completed a strategic investment in CIVIE, an AI-based ecosystem of radiology solutions. The company’s proprietary technology platform and AI solutions are 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.
WindRose is partnered with the Collaborative Imaging (Ci) management team, a radiologist-owned management service organization, to buy Ci’s technology platform and form CIVIE. And 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, such as radiology information systems, picture archiving and communication systems, vendor-neutral archives, 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 growth phase.
McDermott Will & Emery acted as legal advisor to WindRose, and Proskauer Rose acted as legal advisor to CIVIE.
KEY QUOTES:
“We are thrilled to partner with WindRose and embark on an exciting new chapter as CIVIE. 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.”
- Chopra
“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.”
- Bren Hall, Partner at WindRose
