McDermott Represents RAYUS, Inc. in its Acquisition of Diagnostic Centers of America - McDermott Will & Emery

McDermott Represents RAYUS, Inc. in its Acquisition of Diagnostic Centers of America


International law firm McDermott Will & Emery represented Wellspring Capital Management LLC portfolio company RAYUS, Inc. (formerly known as Center for Diagnostic Imaging, Inc.) in connection with its acquisition of Diagnostic Centers of America (DCA), a leading radiology provider with eight centers in South Florida.

  • This transaction was announced on October 13, 2021.
  • McDermott Will & Emery acted as legal counsel to Wellspring Capital Management.
  • With the transaction, RAYUS also gains a partnership with Boca Radiology Group, whose subspecialized radiologists provide services to DCA and conduct more than 550,000 procedures annually.
  • McDermott’s representation also included the structuring, negotiation, and documentation of an amendment to its senior secured credit facility to add an additional term loan, with Cerberus Business Finance Agency, LLC as the administrative agent.
  • This transaction marks RAYUS’ eighth add-on acquisition under Wellspring’s ownership and its largest acquisition to date.
  • A PE Hub source estimates this transactions adds around $30 million in EBITDA, moving RAYUS to an estimated $140 million in EBITDA.
  • McDermott has previously represented Wellspring in several transactions including most recently the acquisition of Pentec Health; acquisition of HealthPRO Heritage; acquisition of Cadence Petroleum Group; sale of its portfolio company Help At Home LLC to Centerbridge Partners; acquisitions by its portfolio company Center For Diagnostic Imaging (dba RAYUS, Inc.) of Sand Lake Imaging, U.S. MRI, and Smart Choice MRI, respectively; acquisition of Paragon Films; acquisition of Lucky Strike Entertainment LLC; and acquisition of Center For Diagnostic Imaging (dba RAYUS, Inc.).
  • Read RAYUS Radiology’s press release here.

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