Smart Choice MRI, a Chicago, IL-based provider of Magnetic Resonance Imaging, closed a significant investment from UCHealth, a nationally-recognized system of 7 hospitals and more than 100 clinic locations based in Colorado.
The amount of the deal was not disclosed.
The company intends to use the funds to increase consumers’ adoption of its services, to expand regionally and nationally over the next five years, including new locations in Colorado.
Led by Rick Anderson, chief executive officer, MRI provides consumers with MRIs for a fee of $600 or less, which includes the cost of the scan as well as its interpretation by radiologists.
To date, the company has raised $22m in capital investment from hospital systems and strategic investors and has grown from two clinics in Wisconsin to 17 locations across Illinois, Wisconsin and Minnesota, including two new facilities opening next month.
Smart Choice MRI is accredited by the American College of Radiology and is in network for most major insurers, including United Health Care, Anthem and Humana.