MedQuest Associates

MedQuest Associates

Outpatient imaging services and radiology consulting

Overview

MedQuest Associates provides outpatient imaging services consulting to hospitals and health systems. It helps improve financial performance and the quality and accessibility of radiology services by applying its experience and standardized workflows to radiology operations. The company works with healthcare providers and patients in the diagnostic radiology market, offering services in consulting, radiology information technology (IT), and diagnostic imaging equipment, and earning revenue through service fees and partnerships. Its approach centers on strengthening referring-physician relationships and delivering reliable diagnostic imaging solutions, with a focus on MRI safety and workflow optimization. The goal is to make radiology services more efficient, more accessible, and better aligned with the needs of providers and patients.

Significant Headcount Growth

About MedQuest Associates

Simplify's Rating
Why MedQuest Associates is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Consulting

Enterprise Software

Healthcare

Company Size

501-1,000

Company Stage

Growth Equity (Venture Capital)

Total Funding

$36M

Headquarters

Alpharetta, Georgia

Founded

1993

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Simplify's Take

What believers are saying

  • Novant and MedQuest added 18 OrthoCarolina imaging sites in April 2025.
  • Rajadhyax joined as COO in April 2024, targeting enterprise operations and financial performance.
  • Patel became Chief Clinical and Innovation Officer in March 2024, accelerating product and care delivery improvements.

What critics are saying

  • A 2024 pediatric imaging settlement forced second reads and tighter controls, increasing costs immediately.
  • False Claims Act scrutiny over supervision and billing keeps MedQuest exposed to repeat litigation.
  • Heavy dependence on Novant and other health-system partners leaves MedQuest vulnerable to contract losses.

What makes MedQuest Associates unique

  • MedQuest operates 50-plus imaging centers with hospital and health-system joint ventures.
  • Its proprietary systems standardize scheduling, referring-physician engagement, and outpatient radiology operations.
  • Jason Howard, Nilesh Rajadhyax, and Aalpen Patel reinforce a scale-and-innovation operating model.

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Funding

Total Funding

$36M

Above

Industry Average

Funded Over

2 Rounds

Growth Equity VC funding comparison data is currently unavailable. We're working to provide this information soon!
Growth Equity VC Funding Comparison
Coming Soon

Growth & Insights and Company News

Headcount

6 month growth

12%

1 year growth

12%

2 year growth

12%
Radiology Business
Jan 14th, 2025
Rayus Radiology CEO stepping down, plus more leadership moves

Memorial Sloan Kettering Cancer Center in New York on Monday named Kimberly N. Feigin, MD, as chief of breast imaging.

Business Wire
Apr 17th, 2024
Nilesh Rajadhyax Joins Medquest As Chief Operating Officer

ATLANTA--(BUSINESS WIRE)--MedQuest Associates (MedQuest), a leading owner, operator, and manager of outpatient diagnostic imaging facilities in the U.S., has appointed Nilesh Rajadhyax as Chief Operating Officer. Rajadhyax joined on April 1 and is tasked with driving enterprise operations and financial performance. He reports to CEO Jason Howard and sits on the Executive Leadership Council. "Nilesh’s experience as an executive in patient-focused, field-based healthcare organizations and as a healthcare consultant at McKinsey makes him an excellent fit for MedQuest," said Howard. “As we grow, he will ensure that our infrastructure and operations are scaleable, innovative, and sustainable, supporting our mission for our patients and health system partners.". Rajadhyax has consistently delivered business unit growth, operational improvements, and technology enhancements in the healthcare sector

Business Wire
Apr 10th, 2024
Medquest Names Aalpen Patel Chief Clinical And Innovation Officer

ATLANTA--(BUSINESS WIRE)--MedQuest Associates (MedQuest), a leading owner, operator, and manager of outpatient diagnostic imaging facilities in the U.S., has selected Dr. Aalpen Patel as Chief Clinical and Innovation Officer. Dr. Patel joined on March 18 in a new role overseeing all functions related to clinical practices and innovation in product development and care delivery. He reports to CEO Jason Howard and serves on the company’s Executive Leadership Council. Patel is a distinguished physician, engineer, educator, and researcher whose experience extends beyond traditional medicine into the mathematical and engineering modeling of biological systems and the application of 3D printing in medicine

PE Hub
Jan 23rd, 2023
Novant Health Enterprises and TPG ink deal to expand MedQuest Associates - PE Hub

This will create a new national imaging center management company.

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