Diagnostic Health Corporation Created as The Gores Group Finalizes Purchase of Healthsouth Diagnostic Division
July 31, 2007
Birmingham, Ala, July 31, 2007 - The Gores Group today finalized its agreement with HealthSouth Corporation (NYSE:HLS) to purchase its Diagnostic Division, creating Diagnostic Health Corporation (DHC), an independent diagnostic imaging company.
The new company is currently comprised of a network of 53 freestanding diagnostic imaging centers in 19 states and the District of Columbia. While not all services are provided at all sites, 80% of the centers are multi-modality facilities offering a combination of outpatient diagnostic imaging services, including MRI, CT, X-ray, ultrasound, mammography, fluoroscopy, and nuclear medicine services.
"We are very pleased to be on our own as a stand-along diagnostic imaging company with the financial support of The Gores Group," said Diane Munson, President and CEO of Diagnostic Health Corporation. "DHC's management team and employees are committed to strengthening our platform and continuing to deliver high quality care to our patients across the country."
"The Gores Group is excited about the strength of DHC's platform and geographic footprint, creating numerous opportunities for expansion within the imaging industry," said Ryan Wald, Managing Director of The Gores Group. "DHC's existing strengths, partnered with our financial resources will allow DHC to grow through state-of-the art imaging equipment and superior patient care."
About Diagnostic Health Corporation
Diagnostic Health Corporation is a stand-alone provider of diagnostic imaging services with 53 freestanding locations in 19 states across the country. DHC facilities offer a combination of outpatient diagnostic imaging services, including MRI, CT, X-ray, ultrasound, mammography, fluoroscopy, and nuclear medicine services. DHC can be found on the web at www.dxhealthcorp.com
About The Gores Group, LLC
Founded in 1987, The Gores Group is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group has become a leading investor, primarily in the technology and telecommunications sectors, having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. Headquartered in Los Angeles, California, The Gores Group maintains offices in Boulder, Colorado and London. For more information, please visit www.gores.com.
For additional information, please contact:
The Gores Group, LLC