R.I. equity firm completes $294M purchase of Virtual Radiologic

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Providence Equity Partners of Providence, R.I. has completed its acquisition of Virtual Radiologic (vRad), a developer of radiologist workflow technologies.

According to Eden Prairie, Minn.-based vRad, the company’s stockholders have approved and adopted the merger agreement for the acquisition of vRad by an affiliate of Providence Equity Partners. The transaction is valued at approximately $294 million and via the terms of the acquisition, vRad stockholders will receive $17.25 in cash for each share of vRad common stock held.