Backed by private equity funding and led by industry experts
Versant Diagnostics, an independent physician services company, today announces the launch of its strategy to drive the digital revolution in pathology. Created in 2021 as an acquisition platform by leading physician and operating executives, Ven Aduana, M.D., Jim Billington and Brian Carr, the company will focus on anatomic pathology, precision medicine and the digital transformation of the industry.
Supported by more than $100 million in growth capital in partnership with private equity firm Iron Path Capital, Versant Diagnostics is positioning itself to become the nation’s largest independent physician services company through acquisition of independent pathology practices of all sizes. It will provide capital infusion into each practice for conversion to digital pathology while maintaining physician leadership.
“Many pathologists in the workforce are nearing retirement age, which facilitates our acquisition initiative,” says Jim Billington, chief executive officer of Versant Diagnostics. “Digital pathology will help alleviate the labor shortfall, allowing adopters the ability to capture efficiencies and improvements while also improving patients’ standard of care.”
Versant Diagnostics takes great pride in assisting physicians to determine the correct diagnosis of their patients’ medical needs. With access to Versant’s pathologists, community providers can collaborate on specific health issues with experts anywhere at any time.
“The belief among pathologists is that the quality of digital pathology will be superior to current methodologies, analogous to the digitization of radiology,” says Ven Aduana, M.D., chairman and chief medical officer of Versant Diagnostics. “The workflow will be enhanced, and the physical proximity between pathologist, histology lab, provider and patient will no longer matter.”
Versant Diagnostics’ practice areas include urology, dermatology, women’s health, gastroenterology and hematology. Billington adds, “Our goal is to be a leading catalyst in improving medical diagnostics through the convergence of the latest technology and leading physicians.”
Versant was represented in its creation and initial funding by Bass, Berry & Sims as legal counsel, led by David Cox and Ziegler as financial adviser, led by Patrick Walsh.
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