East Hartford, Conn.-based Jefferson Radiology and Shelton, Conn.-based Advanced Radiology Consultants are partnering to launch a new collaborative entity.
The new collaborative will be named Charter Radiology Network. The initial focus of the collaboration will be to increase quality and decrease costs. The collaboration will include initiatives such as the integration of management services, billing operations and IT infrastructure consolidation.
Jefferson Radiology and Advanced Radiology Consultants will remain independent entities. The financial terms of the transaction were not disclosed.
"The vision of Charter Radiology Network delivering the highest quality healthcare services will be created by combining the best of Advanced Radiology's and Jefferson Radiology's infrastructure efficiencies and capabilities, while removing redundancies and unnecessary costs," said Ethan Foxman, MD, PhD, president and CEO of Jefferson Radiology. "We are excited about Charter Radiology Network's potential to improve the quality of patient care and access to imaging services in Connecticut."
"The creation of Charter Radiology Network is in response to public demand for improved healthcare access, safety and quality," said Clark Yoder, CEO of Advanced Radiology Consultants. "By collaborating with Jefferson Radiology, we can go a long way toward satisfying society's demands, with the ultimate result being the highest quality patient care at a reasonable cost."