Westcove

Westcove Advises Westwood Open MRI in its Sale to Rezolut

LOS ANGELES, CA – December 28, 2021 – Westcove Partners LLC (“Westcove”), an emerging and highly specialized investment bank, announced that it acted as the exclusive financial advisor to Westwood Open MRI, LLC (“Westwood”) in its asset sale to Rezolut, LLC (“Rezolut”), a portfolio company of Sunny River Management (“SRM”). Westwood is one of the premier providers of outpatient MRI services in the greater Los Angeles region. The terms of the transaction were not disclosed. Westcove’s deal team included Justin Hand, Managing Director, Abe M’Bodj, Vice President, and Dimitri Michalakis, Associate.
Westwood performs over 7,000 MRI scans per year, including structural MRI and MRA for musculoskeletal, neuro, and body imaging. Westwood’s open MRI scanner can accommodate a wide range of patients, including claustrophobic and obese patients, and has advanced imaging capabilities for functional MRI and prostate exams. Its advanced scanning capabilities, its ability to accommodate patients with special requirements, and its patient-centered approach have made Westwood a point of reference for satisfied patients and physicians in the greater Los Angeles region.
By bringing Westwood in its network, Rezolut will expand its footprint and its capabilities in Los Angeles. Rezolut is a high growth medical imaging business, committed to building an innovative, national multi-modal platform by delivering high quality service to its patients. It provides high-quality, cost-effective, fixed-site outpatient diagnostic imaging as well as mobile imaging and health services. Its national network comprises over 25 locations across 6 states.
Dr. Jin Kim, CEO of Rezolut, stated, “We look forward to expanding our services to the west side of LA and joining the vibrant medical community surrounding UCLA and the Westwood area. We share with the Westwood and Rad Alliance teams an unwavering commitment to facilitating the best care and customer experience to patients.”
Mike Whitney, President of Westwood Open MRI, LLC stated, “The facility has operated as a boutique-style imaging center utilizing proprietary software technology to deliver exceptional patient care through the clinical services of Rad Alliance, Inc. I am encouraged by Rezolut’s continued commitment to the values that the center was built upon to grow Westwood Open MRI’s vision in the community for many years to come.
Justin Hand of Westcove comments, “Westwood’s ability to maintain an uncompromising patient-centered approach while growing and accommodating ever larger patient volumes has enabled it to build a strong reputation. We believe that Westwood’s extensive capabilities that are highly regarded among patients and physicians will allow Rezolut to significantly strengthen its presence in the greater Los Angeles region.”

About Westwood Open MRI

Westwood is one of the premier providers of outpatient MRI services in the greater Los Angeles region performing over 7,000 MRI scans per year. Westwood’s advanced scanning capabilities, its ability to accommodate patients with special requirements, and its patient-centered approach have made it a point of reference for satisfied patients and referring physicians in the greater Los Angeles region.

About Rezolut

Rezolut is a high-growth medical imaging business, seeking to build a national, multi-modal platform by delivering high quality service to patients. It provides high-quality, cost-effective, fixed-site outpatient diagnostic imaging as well as mobile imaging and health services. Rezolut locations offer easy access, same day or week appointments, and low costs when compared to other imaging centers and local hospitals.

About Sunny River Management

SRM is a private family investment firm focused on building great mid-sized businesses in a few select highly desirable industries. SRM builds its platform businesses through partnering with small businesses and investing in growth within those businesses as part of a larger platform. SRM takes a long-term view with its acquisitions and investments. SRM’s current platforms include Industrial Inspection & Analysis, Fire Safety & Protection, Rezolut Medical Imaging, Komline-Sanderson, and Palmetto Air & Water Balance.

About Westcove Partners

Westcove Partners is a leading healthcare-focused investment bank that specializes in advising its clients through mergers & acquisitions, debt, and equity financings, as well as other complex corporate finance transactions. The team focuses on founder operated businesses and seeks to curate its advisory services according to the intricacies that come with these types of businesses. 

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