News & Events

Edgemont Partners Completes Sale of Chandler Radiology Associates to Envision Healthcare

Press Release

Acquisition highlights accelerating consolidation in radiology services; Transaction is Edgemont’s twelfth on behalf of hospital-based physician groups

NEW YORK and ARIZONA, February 28, 2018– Edgemont Partners, L.P. has acted as exclusive financial advisor to Chandler Radiology Associates (“CRA”) in the sale of the company to Envision Healthcare Corp. (NYSE:EVHC). The transaction closed on February 28, 2018 and was led by Jeff Swearingen, Managing Director, Co-founder of Edgemont, and Head of the Firm’s Physician Services Group, supported by Vitaliy Marchenko, Vice President, and Somon Nader, Associate. Edgemont is the preeminent healthcare-focused middle market investment bank, serving the advisory needs of healthcare providers and entrepreneurs for more than 15 years.

CRA’s sale continues the trend of hospital outsourced clinical services consolidation, driven by regulatory pressures and most recently the implementation of the Medicare Access and CHIP Reauthorization Act of 2015, and marks the 71st transaction in radiology since 2008. CRA’s 15 physicians staff two of the most active radiology departments in Phoenix, Arizona, with over 300,000 reads annually.

“Edgemont’s expert advice and industry relationships helped guide our group through what was a highly competitive sale process,” said Dr. Martin Lehman, President of CRA. “They understood that a key consideration for us was finding a strategic partner who would understand and embrace our commitment to serving our patient community. We were able to achieve this, while at the same time maximizing the value of our practice.”

Edgemont’s Physician Services Group serves practices across a broad range of hospital and office-based specialties, including radiology, emergency medicine, hospitalist medicine, anesthesia, dermatology, ophthalmology, gastroenterology, orthopedics, urology, urgent care, and occupational medicine. The firm’s role as CRA’s exclusive M&A advisor is its twelfth closed transaction on behalf of hospital-based physician groups and management companies. These transactions have generated approximately $1.5 billion in consideration at closing for Edgemont’s independent group practice clients.

“Our broad and deep transaction experience positions us to understand the needs of both sellers and buyers in this unique marketplace,” said Swearingen. “As a result, we continue to lead the industry in supporting large and mid-sized physician groups in the sales process.”

About Edgemont Partners, L.P.

Edgemont Partners, L.P. ( is an independent healthcare investment banking firm founded in 2001 to provide the highest quality strategic advisory and capital raising services to healthcare companies. The firm’s deep healthcare industry knowledge, extensive relationship network and substantial M&A transaction expertise allow Edgemont to address healthcare companies’ strategic and financing needs with great success. The firm’s principals have closed over 125 healthcare transactions, representing more than $35 billion in value.

For more information on Edgemont Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.

Investment banking services are provided by Edgemont Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.