National Medical Development Inc. (NMDI) has formed a new affiliate company, Renaissance Medical Ventures LLC.
Renaissance specializes in the identification and acquisition of distressed assets and businesses participating in the outpatient market, such as diagnostic imaging facilities, surgery centers and endoscopy suites. The company then integrates these facilities into its growing network, which is expected to reach 20 centers during the next three to five years.
Renaissance said it plans to acquire, turnaround and integrate these distressed operations into its network by capitalizing on the broad infrastructure of NMDI. This includes coding, billing, collections, accounting and marketing teams; expense and systems analysis; comprehensive information technology systems; custom enterprise software; referral network management tools; and capital restructuring resources.
Co-founder of Renaissance, Antony G. Clarke, will serve as president and CEO of Renaissance.