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Foundation Radiology Group Raises $10 Million in Venture Funding Led by Chrysalis Ventures
Date:4/13/2009

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. The company is a great fit for our growing portfolio of healthcare information and services companies."

Mr. Karleski and Roy Ziegler representing HEPIN will serve on the company's board of directors.

About Foundation Radiology Group

Headquartered in Pittsburgh, PA the Foundation Radiology Group's mission is to build the pre-eminent diagnostic imaging, radiology service bureau and physician practice group network in the United States. 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. FRG is focused on serving non-university affiliated health care institutions, with emphasis on serving the rural and suburban hospital segment. It seeks multi-year exclusive contracts for daytime and 7/24/365 radiology full service bureaus. The Group's administrative office, data processing and primary diagnostic imaging reading center is located at Three Gateway Center, in downtown Pittsburgh, where board-certified radiologists are available 24 hours a day. For more information, please visit w
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SOURCE Foundation Radiology Group
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