ACGSD | Global Ambition Meets Local Excellence: The I-MED/StatRad Deal Story

Global Ambition Meets Local Excellence: The I-MED/StatRad Deal Story

Join ACG San Diego for a candid fireside chat as we go behind the scenes of one of the most significant cross-border M&A transactions in the global teleradiology sector: I-MED Radiology Network's acquisition of San Diego-based StatRad.

In a deal that closed on July 1, 2024, Australia's largest diagnostic imaging provider, I-MED, secured its strategic entry into the world's largest teleradiology market (the United States) by acquiring StatRad, a leading U.S. teleradiology service provider.

Our featured speaker is Claude Hooton, President and CEO of StatRad, will share his first-hand account of the deal, from the initial approach to navigating the complexities of integrating a high-growth U.S. health-tech business into a major international healthcare network.

Key Takeaways:

1. The "Beyond Valuation" Decision: Learn the factors that a founder/owner needs to consider when determining candidates for acquisition or sale.
2. Managing the Process: Lessons learned in managing the multiple professional service providers while continuing to grow and manage the business.
3. Navigating Cross-Border M&A in Healthcare: Learn the unique challenges and best practices for integrating a U.S. health-tech company into a global platform.

Panelists:

Claude Hooton, President and CEO of StatRad

With over twenty-five years of strategic, operational and corporate management experience within high-growth healthcare technology companies, Claude is the President and CEO of the market leading teleradiology company, StatRad.

The company’s 110 radiologists use its proprietary technology to provide remote radiology services to over 600 healthcare facilities throughout the United States. During Hooton’s 11-year tenure at StatRad, the company’s revenues have grown at an average annual growth rate of 18%. Prior to being acquired by the Australian based I-MED Radiology Network in July of 2024, StatRad was the largest independent teleradiology company in the U.S., In August of 2020, StatRad sold the assets of its pioneering cloud based medical image management division to Change Healthcare (Nasdaq: CHNG).

Prior to joining StatRad, Claude managed the U.S. Sales Operations for Qualcomm Life, the healthcare division for Qualcomm Corporation. He also served as President of the PMB Real Estate `Services division of Ventas REIT and as EVP / Board Member of Baxa Corporation, a global medical device company later acquired by Baxter International. He’s also held senior roles at Pyxis, Dura Pharmaceuticals, and Eli Lily/Hybritech.

Claude holds a BS in Finance from San Diego State University, and an MBA from Harvard Business School

Moderator:

Jay McCabe, SVP and Relationship Manager, Comerica Bank

Jay McCabe is a Senior Vice President and Relationship Manager with the Middle Market Banking Team at Comerica Bank.  Through direct and candid communication, Jay’s primary goal is to deeply understand his clients’ business objectives to help them execute their next phase of growth.  Jay has been particularly effective in working with companies in the government contracting, manufacturing, distribution, and business services sectors.

With over 20 years commercial banking experience in San Diego, Jay draws upon his diverse professional background including experience in public accounting with Deloitte, and operational and finance roles with Toys “R” Us and Qualcomm.  He also owned, operated, and successfully sold a small business, so he knows the life of an entrepreneur. Jay is on the board of directors for the Association of Corporate Growth – San Diego Chapter.  Within this organization, he leads the Education Committee that produces the events for the organization.

Jay holds a BA in Economics and Accounting from Claremont McKenna College.

AGENDA

• 3:30 pm - 4:30 pm: Registration / Networking
• 4:30 pm - 5:15 pm: Panel Discussion
• 5:15 pm - 5:30 pm: Q&A
• 5:30 pm - 6:30 pm: Happy Hour Reception

REGISTRATION OPEN NOW 

• ACG Members: $55
• Non-Members & Guests: $105

Thank you to our sponsor: