Members of private equity-backed radiology group sell imaging center at a 1,300% profit

Radiology Business June 7, 2024
Marty Stempniak

Members of an east coast radiology practice, which recently partnered with private equity, are now also selling one of its imaging center properties in a leaseback deal valued at nearly $5.8 million. However, US Radiology Specialists had nothing to do with the transaction.

Physician investors at South Jersey Radiology Associates in May sold the 20,000 square-foot facility in Turnersville, a suburb of Philadelphia with a population of about 3,000. The buyer is Port Washington, Pennsylvania-based Mediplex Property Group, which is now leasing the center back to South Jersey Radiology.

“The site is strategically located just off the Atlantic City Expressway and NJ Route 42, 5 miles from NJ Route 55,” Mediplex said in a June 6 announcement. “Servicing one...

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