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NightHawk Acquires Midwest Physician Services

July 18, 2007
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NightHawk Radiology Holdings Inc. (Coeur D'Alene, Idaho) has acquired Midwest Physician Services LLC, the business services division of St. Paul Radiology (St. Paul, Minn.), a provider of diagnostic imaging and interventional radiology services.

With this acquisition, NightHawk says it will provide a suite of radiology solutions and services including clinical workflow technology, business and professional services, revenue cycle management, facilities and human resources management, and transcription services.

As part of the transaction, NightHawk also obtains Emergency Radiology Services LLC, the off-hours emergency teleradiology division of St. Paul Radiology, says the company.

According to NightHawk, it paid $62.5 million in cash for the acquisition of both companies, along with a warrant entitling St. Paul Radiology to purchase 300,000 shares of NightHawk common stock.

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