The Cranemere Group, a holding company focused on partnering with outstanding businesses for the long-term, has acquired Outpatient Imaging Affiliates, a scaled outpatient imaging company and a developer of joint ventures with health systems to build and operate outpatient imaging centers, from ICV Partners LLC, a investment firm focused on lower middle market companies in business services, consumer goods & services, food & beverage, and healthcare.

W. Cannon King, president and CEO of OIA, said, “We thank the ICV team for their support and guidance over the past three years to combine our efforts and create a leading provider of diagnostic imaging centers.”

Ira Moreland, ICV managing director, said, “OIA has built an outstanding network of imaging facilities, distinguishing their centers by delivering quality value to healthcare providers and patients. Upon acquiring the company in 2018, we had tremendous respect for the network that OIA had built and we are proud to have played a role in further building the company’s leadership position in the outpatient imaging sector. OIA has dramatically enhanced the imaging services delivered to patients and we are very happy with our partnership with Cannon and his team. Cranemere is an outstanding new home for OIA to continue its pathway for growth.”