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Private equity-backed radiology group sells imaging center property for $5.8M—a 1,300% profit
Radiology Business June 7, 2024
An east coast radiology practice, which recently partnered with private equity, is now also selling one of its imaging center properties in a leaseback deal valued at nearly $5.8 million.
South Jersey Radiology Associates in May sold its 20,000 square-foot facility in the community of 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 of the highest diagnostic outpatient volumes in New Jersey, it is the only imaging...
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