Imaging outsourcing company Foundation Radiology Group completed a $6 million "Series A1" round, sourced from previous investors.
The company plans to use the funding to expand into new markets, but CFO Barbara Beaudin declined to offer more specifics. Pittsburgh-based Foundation has clients in five states — Pennsylvania, New York, Virginia, Kentucky and Michigan — Beaudin said.
Foundation is an imaging services company that has on-site and teleservices for hospitals and other health centers. Its services include neuroradiology, mammography, cardiac CT, pediatric radiology and general radiology, among others.
By the end of January, Foundation raised $4 million of the Series A1 round. Last year, Foundation bagged a $10 million Series A round with which the company planned to hire new radiologists and expand its diagnostic imaging and radiology services office.
Louisville, Kentucky-based Chrysalis Ventures led the round, accompanied by Health Evolution Partners and Foundation’s management team.
The company has 75 employees, which includes those work at the Pittsburgh office and others who work on-site with hospital and health centers, Beaudin said. The most recent client publicly announced by Foundation was Leighton, Pennsylvania-based Blue Mountain Health System, in January.