#United States #California #Integrated Services #HCAP Partners #Core Analytics

HCAP Partners Expands Integrated Diagnostic Services in California

In a significant move to enhance its Integrated Diagnostic Services (IDS) platform, HCAP Partners, a California-based private equity firm, has announced the follow-on acquisition of Core Analytics Lab & Radiology. As a recognized impact investor, HCAP Partners is committed to improving healthcare delivery across the United States. This latest acquisition marks a strategic expansion of IDS, aiming to solidify its footprint and service offerings throughout California.

Strengthening Market Presence

With the addition of Core Analytics, a prominent provider of mobile radiology and laboratory services, IDS aims to bolster its operations in Northern California while increasing statewide market density. Founded in 2016, Core Analytics has established itself as a leading entity in mobile diagnostic services, catering to over 300 facilities across the state. This acquisition not only increases IDS's capability to offer comprehensive diagnostic services but also enhances its ability to deliver timely and cost-effective care at the point of need.

The combination of IDS and Core Analytics is poised to provide bundled mobile radiology and laboratory services to a diverse group of clients, including skilled nursing facilities (SNFs), long-term care facilities (LTCFs), and home health and hospice providers. This move is designed to facilitate more efficient service delivery and ensure that high-quality diagnostics are accessible wherever they are needed.

A Seamless Experience for Providers and Patients

The leadership from Core Analytics, namely Shruty Parti and Carlos Ruiz, will remain actively involved following the acquisition. Their insight and operational experience will serve to ensure that both organizations can integrate successfully and continue to uphold the quality of care expected by their facility partners. As Shruty Parti stated, “Joining IDS allows us to expand the reach of our services while maintaining the operational standards our facility partners rely on.” This acquisition creates a more seamless experience for both providers and patients, thereby enhancing the overall healthcare ecosystem.

Kelly McCullum, CEO of IDS, also highlighted the strategic importance of this acquisition: “Core meaningfully strengthens our platform by adding in-house laboratory capabilities and expanding our coverage across California. This combination improves route density, responsiveness, and our ability to deliver bundled services at scale.” This enhancement will not only improve patient care but also streamline operations for healthcare providers across the board.

Financial Backing of the Acquisition

The financial support for this acquisition has been facilitated through HCAP Partners and California Bank & Trust, alongside co-investment from St. Cloud Capital and Southfield Mezzanine. The proceeds will be utilized to support the integration of services, operational scaling, and broader growth initiatives. Jessica Kim, Vice President at HCAP Partners, commented on the transaction, emphasizing the firm’s strategy to partner with experienced executives dedicated to quality care for seniors.

With this acquisition, IDS will now have the capacity to serve over 440 facilities, enhancing its presence and influence in the mobile diagnostics market. This move is part of a broader strategy that HCAP Partners has been implementing to pursue growth opportunities and foster better healthcare solutions across the Western U.S.

The Future of Integrated Diagnostic Services

The approach taken by HCAP Partners reflects a strong commitment to enhancing the healthcare delivery model in underserved markets. Their history of investing in companies that prioritize quality and access showcases their dedication to making a positive impact on both businesses and communities.

As HCAP Partners continues to actively seek additional acquisition opportunities, the firm is poised for robust growth and continued success in the field of integrated diagnostic services. The organization's Gainful Jobs Approach™ is a testament to their mission of not only optimizing performance but also creating meaningful employment opportunities within the sectors they invest in.

HCAP Partners, alongside its strategic acquisitions, is set to redefine the standards of integrated healthcare services in California and beyond. By leveraging partnerships and enhancing service offerings, they strive to make quality diagnostic care accessible to all, ensuring a healthier future for the communities they serve.