January 28th, 2010
Chi Announces Management Buyout
Ann Arbor, MI (January 28, 2010) - Chi Solutions, Inc. (Chi), the nation's largest diagnostic consulting company, owned by Carilion Clinic, announced today that the parties have agreed to general terms wherein Chi will be acquired by current management, Kathy Murphy, PhD and Earl Buck. It is anticipated that the acquisition will be completed in early 2010.
Chi is a healthcare consultancy focused on delivering cost savings, new revenue, and optimized operations for laboratory, imaging, and other diagnostic departments. Carilion Clinic acquired Chi in 2005 to support its laboratory growth strategy. Under the leadership of Kathy Murphy, PhD, president, and Earl Buck, MT(ASCP), vice president, the company has prospered and added new service offerings including Lean Six Sigma and Mergers and Acquisitions. Long recognized as the market leader in laboratory outreach, Chi has developed a new diagnostic model for growth of imaging and other diagnostic services.
“The management buyout will allow Chi to go back to its legacy as a private, independent consultancy. This allows us to work with a broader range of clients without any perception of a conflict of interest,” said Dr. Murphy.
Earl Buck commented, “Current Chi clients will not see any change in service post-acquisition. The company will deliver the same services with the same resources that they have come to know and trust.”
Further details will be released after the close of the Chi transaction.
To view a PDF of the complete press release, click here.