Foundation Radiology Raises $10 Million
Summary
Louisville, KY-based Chrysalis Ventures, a leading source of equity capital for young growth companies in the Midwest and South, led the Series A round. Founded in late 2006, FRG is a state-of-the-art diagnostic imaging professional services company offering a hybrid model of both on-site radiology and teleradiology solutions for hospitals and other institutions. The funds will be used to hire additional radiologists to support our aggressive growth plans to build the preeminent diagnostic imaging and radiology service bureau in the nation.” According to Koleman Karleski, Managing Director of Chrysalis, “Chrysalis continues to focus on young businesses that enhance the productivity of healthcare delivery, companies that provide services and enabling technologies that drive improvements in the relationship between cost and quality, and activity and outcomes. By merging the ubiquity of broadband technology with expertly staffed regional reading facilities, FRG is able to offer hospitals and other institutions superior quality and service at a much lower cost. FRG uses state-of-the-art PACS technology, a unique, efficient workflow system, carrier-grade telecommunications infrastructure and the Internet to provide the fastest turnaround times in the industry for diagnostic imaging reads.