Virtual Radiologic (NASDAQ: VRAD), which had an IPO last year, is a New Age medical company. That is, it operates a sophisticated network that allows for remote interpretation of CT scans, ultrasounds, and MRIs. In other words, a radiologist can work from his or her own home – and still make big bucks.
This week, Virtual Radiologic announced its Q1 results. Revenues increased 29% to $23.3 million and EBITDA was up 60% to $4 million.
And to continue its growth, Virtual Radiologic recently acquired Diagna Radiology, LLC, for $6 million. The firm has 44 customers in 17 states. What's more, Diagna has a strong platform for analysis on final reads, which could be a nice up-sell opportunity for Virtual Radiologic customers.
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