Smart Choice MRI Closes Largest Investment To Date From UCHealth

Third hospital system investment in three years evidence of growing trend of providing a better consumer experience in healthcare

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Smart Choice MRI

Aug 23, 2017, 10:25 ET

CHICAGO, Aug. 23, 2017 /PRNewswire/ -- Chicago-based Smart Choice MRI has closed a significant investment from UCHealth, a nationally-recognized system of 7 hospitals and more than 100 clinic locations based in Colorado. The investment is Smart Choice MRI's largest to date and marks the third hospital system to invest in the company since late 2015. Smart Choice MRI is the first MRI provider in the country to offer convenient, quality MRIs to consumers at a lower cost (nearly $2,000 less than the industry average) with "no-surprises" billing, the latest technology and expert analysis, all in a spa-like, patient-centered atmosphere.

"We're excited UCHealth has chosen to partner with us and provide us with our largest capital infusion to date," said Rick Anderson, chief executive officer of Smart Choice MRI. "When it comes to health services, consumers want more control over their expenses and options. UCHealth understands this movement, and its investment will help us increase consumers' access to a new experience in MRIs."

To date, Smart Choice MRI has raised $22 million in capital investment from hospital systems and strategic investors. In just a few years, current leadership has grown Smart Choice MRI from two clinics in Wisconsin to 17 locations across Illinois, Wisconsin and Minnesota, including two new facilities opening next month. Management has aggressive plans to expand regionally and nationally over the next five years, including new locations in Colorado.

"This investment shows hospitals and healthcare systems see the value Smart Choice MRI can bring to their patients, their systems and their bottom lines," said Anderson. "UCHealth is dedicated to innovative ways to deliver care to their patients while also decreasing costs."

UCHealth is dedicated to delivering the very best care and experience for their patients throughout Colorado, southern Wyoming and western Nebraska. New locations in the region, including numerous primary care and urgent care locations, are helping UCHealth provide this care in lower cost and more convenient locations for patients.

"Consumerism is rapidly permeating all aspects of healthcare, and we are meeting this demand by serving and caring for people with genuine kindness, compassion and respect and by offering the highest quality care and the best value for our customers," Anderson said. "The Smart Choice MRI care model is setting the standard for excellence in retail medicine by placing the needs of the customer first and providing expert care in a more convenient, comfortable and affordable manner."

About UCHealth
UCHealth is an innovative, nonprofit health system that delivers the highest quality medical care with an excellent patient experience. UCHealth combines Memorial Hospital, Poudre Valley Hospital, Medical Center of the Rockies, UCHealth Medical Group, Broomfield Hospital, Grandview Hospital, Longs Peak Hospital and University of Colorado Hospital into an organization dedicated to health and providing unmatched patient care in the Rocky Mountain West. With more than 100 clinic locations, UCHealth pushes the boundaries of medicine, providing advanced treatments and clinical trials and improving health through innovation.

About Smart Choice MRI
Smart Choice MRI is the first MRI provider in the country to offer high quality magnetic resonance imaging to every patient for an all-inclusive fee of $600 or less, which includes the cost of the scan as well as its interpretation by top radiologists. 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. Founded in Wisconsin, Smart Choice MRI recently moved its headquarters to Chicago. It currently has 17 locations in Illinois, Wisconsin and Minnesota, and will be expanding regionally and nationally over the next five years. For more information, visit Smart Choice MRI and follow us on Facebook and Twitter.