One Physics acquires Petrone Associates in New York market
The transaction adds the largest independent provider of diagnostic medical physics in the NYC metropolitan area to One Physics' platform, which now spans over 200 physicists and 7,000 client sites.
Buyer
One Physics
- Target
- Petrone Associates
- Deal type
- Add-on
- Sector
- Healthcare
One Physics is deepening its footprint in the Northeast with the addition of Petrone Associates, a Staten Island-based provider of diagnostic medical physics and radiation safety services.
The deal, announced Monday, marks the 22nd acquisition for the Towson, Maryland-based platform.
Petrone Associates was founded in 1982 by Thomas J.
Petrone, a board-certified medical physicist with decades of industry leadership.
The firm has grown to become the largest independent provider of medical physics services in the New York City metropolitan area, and it recently expanded into northern New Jersey.
It serves a mix of large hospital systems and specialty imaging centers, and it operates a CAMPEP-accredited diagnostic medical physics residency program that launched in 2020.
One Physics, the largest outsourced medical physics services organization in North America, employs over 200 physicists and dosimetrists who serve more than 7,000 healthcare client sites across more than 45 states.
The company runs seven residency programs in diagnostic and therapy medical physics.
Its service offerings include diagnostic and therapy medical physics, radiation safety, dosimetry, shielding design, and commissioning services.
Through its platform, partner practices gain access to business support functions such as finance, marketing, human resources, and technical recruiting.
The deal adds a strategically important presence in the New York metropolitan market.
Jason Schneck, CEO of One Physics, said Petrone Associates complements the company’s vision of delivering high-quality medical physics services and developing a destination workplace for physicists.
Blue Sea Capital, a West Palm Beach-based private equity firm with over $1.5 billion in assets under management, backs One Physics.
Principal Erin Lansky noted the firm’s continued commitment to One Physics’ growth and indicated more strategic partnerships are expected in coming months.