Companies · Hospitals and Physicians

Foundation Radiology, Inc.

PITTSBURGH · Hospitals and Physicians

Diligence memoA one-page analyst read on Foundation Radiology, Inc. — recommendation, valuation, rhythm, risks.
$19.0M
Total raised · real
8
Rounds
0.6×
Latest step-up
Top 14%
Sector rank · raised
Series A
Latest stage · inferred · Thu Aug 31 2017 00:00:00 GMT+0000 (Coordinated Universal Time)

Foundation Radiology, Inc. looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the health services sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.32× the median modeled value of Series A Hospitals and Physicians companies in 2016–2018 (17 peers) — value vs value, same stage and era.
Dormant
  • Last raise 8.8 yr ago; this sector typically re-raises about every 12 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Hospitals and Physicians

Foundation Radiology, Inc. is one of 599 Hospitals and Physicians companies tracked from PITTSBURGH. By capital raised it ranks in the upper tier (ahead of 87% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
5
Investors (latest)
2017-08-31
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$50M$100M$150M$200MSeries A · 2009-04-10 Raised $10M (real) Modeled valuation $188M (est)Series A2009Series A · 2010-01-22 Raised $6.0M (real) Modeled valuation $113M (est)Series A2010Series A · 2010-01-22 Raised $4.5M (real) Modeled valuation $84M (est)Series A2010Seed · 2010-12-13 Raised $3.5M (real) Modeled valuation $81M (est)Seed2010Series A · 2010-12-13 Raised $5.1M (real) Modeled valuation $96M (est)Series A2010Pre-Seed · 2011-10-31 Raised $1.0M (real) Modeled valuation $29M (est)Pre-Seed2011Series A · 2011-10-31 Raised $2.0M (real) Modeled valuation $38M (est)Series A2011Series A · 2012-01-18 Raised $200K (real) Modeled valuation $3.8M (est)Series A2012Pre-Seed · 2012-03-27 Raised $1.0M (real) Modeled valuation $29M (est)Pre-Seed2012Series A · 2012-03-27 Raised $1.0M (real) Modeled valuation $19M (est)Series A2012Series A · 2012-08-06 Raised $506K (real) Modeled valuation $9.5M (est)Series A2012Series A · 2014-06-24 Raised $2.5M (real) Modeled valuation $47M (est)Series A2014Series A · 2017-08-31 Raised $1.6M (real) Modeled valuation $30M (est)Series A2017Cumulative $39M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$10.0M · 2009
Series A extension$6.0M · 2010
Series A extension$4.5M · 2010
Bridge · Series A-stage$3.5M · 2010smaller follow-on
Series A extension$5.1M · 2010
Bridge · Series A-stage$1.0M · 2011smaller follow-on
Series A extension$2.0M · 2011
Series A extension$200K · 2012
Bridge · Series A-stage$1.0M · 2012smaller follow-on
Series A extension$1.0M · 2012
Series A extension$506K · 2012
Series A extension$2.5M · 2014
Series A extension$1.6M · 2017

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$30.0M
Base estimate est.
$2.1M
Conservative case
$163.3M
Upside case
$7.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the health services sector profile. Directional, not a quoted figure.

Series A · modeled $187.7M · 2009-04-102009Series A · modeled $112.6M · 2010-01-22Series A · modeled $84.4M · 2010-01-22Seed · modeled $80.7M · 2010-12-13Series A · modeled $96.3M · 2010-12-13Pre-Seed · modeled $28.7M · 2011-10-31Series A · modeled $37.5M · 2011-10-31Series A · modeled $3.8M · 2012-01-18Pre-Seed · modeled $28.7M · 2012-03-27Series A · modeled $19.4M · 2012-03-27Series A · modeled $9.5M · 2012-08-06Series A · modeled $46.9M · 2014-06-24Series A · modeled $30.0M · 2017-08-312017
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
54%
Survival probability
29% low · 74% high
1.40×/yr
Annual markup
1.77×/yr upside case
6.0 yr
Elapsed time used
8.8 yr actual, capped for stale marks
health services
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
8 mo
Avg between rounds
$2.3M/yr
Capital velocity
17.2 yr
On record since
2009
First round
13
Rounds on file
How it compares to the market

Benchmarked against 599 companies in Hospitals and Physicians. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 10× above median
This company$19.0M
Sector median$1.8M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.3× of median
This company$1.6M
Sector median$5.2M
Modeled value — vs sector median (estimate, all stages) 1.3× above median
This company$30.0M
Sector median$22.9M

Raised more than 87% of sector peers (real $). Modeled value above 59% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #16 of 17.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)PocketDerm, Inc. · Series A Raised $22.0M · modeled $281.5M (est)Caribbean Healthcare Partners, Ltd. · Series A Raised $11.6M · modeled $217.7M (est)Island Medical Management Holdings, LLC · Series A Raised $25.3M · modeled $195.6M (est)Innovation Park Mob I Investors, Llc · Series A Raised $7.5M · modeled $140.7M (est)Flathead Physicians Group Llc · Series A Raised $7.2M · modeled $135.2M (est)Lola Development, LLC · Series A Raised $6.7M · modeled $125.1M (est)OnCall Urgent Care, LLC · Series A Raised $6.3M · modeled $118.6M (est)Circle Medical Technologies, Inc. · Series A Raised $6.1M · modeled $114.7M (est)InSight EyeCare, LLC · Series A Raised $5.0M · modeled $93.9M (est)PediaQ LLC · Series A Raised $4.8M · modeled $91.0M (est)Frisco Medical Center Llp · Series A Raised $4.4M · modeled $83.1M (est)Manna Isle Ohio LLC · Series A Raised $4.4M · modeled $82.2M (est)Foundation Radiology, Inc. (this company) Raised $19.0M · modeled $30.0M (est)Foundation Radiology, Inc.
CompanyStageRaised · realValue · estvs peer med.
PocketDerm, Inc.Series A$22.0M$281.5M3.00×
Caribbean Healthcare Partners, Ltd.Series A$11.6M$217.7M2.32×
Island Medical Management Holdings, LLCSeries A$25.3M$195.6M2.08×
Innovation Park Mob I Investors, LlcSeries A$7.5M$140.7M1.50×
Flathead Physicians Group LlcSeries A$7.2M$135.2M1.44×
Lola Development, LLCSeries A$6.7M$125.1M1.33×
OnCall Urgent Care, LLCSeries A$6.3M$118.6M1.26×
Circle Medical Technologies, Inc.Series A$6.1M$114.7M1.22×
InSight EyeCare, LLCSeries A$5.0M$93.9M1.00×
PediaQ LLCSeries A$4.8M$91.0M0.97×
Frisco Medical Center LlpSeries A$4.4M$83.1M0.89×
Manna Isle Ohio LLCSeries A$4.4M$82.2M0.88×
Foundation Radiology, Inc. this companySeries A$19.0M$30.0M0.32×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$10.0M2009-04-10$45.5M$187.7M85%
Series A$6.0M2010-01-22$27.3M$112.6M85%
Series A$4.5M2010-01-22$20.5M$84.4M85%
Seed$3.5M2010-12-13$17.5M$80.7M85%
Series A$5.1M2010-12-13$23.3M$96.3M85%
Pre-Seed$1.0M2011-10-31$5.6M$28.7M85%
Series A$2.0M2011-10-31$9.1M$37.5M85%
Series A$200K2012-01-18$909K$3.8M85%
Pre-Seed$1.0M2012-03-27$5.6M$28.7M85%
Series A$1.0M2012-03-27$4.7M$19.4M85%
Series A$506K2012-08-06$2.3M$9.5M85%
Series A$2.5M2014-06-24$11.4M$46.9M85%
Series A$1.6M2017-08-31$7.3M$30.0M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$10.0M2009-04-10
    • First recorded raise — entered as Series A.
    • 4 investors on this round.
  2. Series A$6.0M2010-01-22
    • Raised 9 mo later, in step with the ~12 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 7 investors on this round.
  3. Series A$4.5M2010-01-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.3× smaller than the prior — bridge or down round.
    • 7 investors on this round.
  4. Seed$3.5M2010-12-13
    • Raised 11 mo later, in step with the ~12 mo sector norm.
    • Round roughly the size of the prior one.
    • 4 investors on this round.
  5. Series A$5.1M2010-12-13
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× larger than the prior — scaling up.
    • 7 investors on this round.
  6. Pre-Seed$1.0M2011-10-31
    • Raised 11 mo later, in step with the ~12 mo sector norm.
    • Round 5.1× smaller than the prior — bridge or down round.
    • 6 investors on this round.
  7. Series A$2.0M2011-10-31
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.0× larger than the prior — scaling up.
    • 6 investors on this round.
  8. Series A$200K2012-01-18
    • Came back fast: 3 mo vs the ~12 mo sector norm.
    • Round 10.0× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  9. Pre-Seed$1.0M2012-03-27
    • Came back fast: 2 mo vs the ~12 mo sector norm.
    • Round 5.0× larger than the prior — scaling up.
    • Revenue band moved $5M–$25M → $25M–$100M.
    • 4 investors on this round.
  10. Series A$1.0M2012-03-27
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 8 investors on this round.
  11. Series A$506K2012-08-06
    • Came back fast: 4 mo vs the ~12 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  12. Series A$2.5M2014-06-24
    • Raised again after 23 mo — slower than the ~12 mo sector norm.
    • Round 4.9× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 3 investors on this round.
  13. Series A$1.6M2017-08-31
    • Raised again after 38 mo — slower than the ~12 mo sector norm.
    • Round 1.6× smaller than the prior — bridge or down round.
    • 5 investors on this round.
Intelligence
2018 ~Q2
Modeled next raise · ~8mo cadence
$1.6M
Modeled next size est.range $1.6M$2.6M
0.6×
Last step-up
$2.3M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
David A. Jones, Jr.4 other2017-08
Richard Vance2 other2017-08
David Haffner1 other2014-06
Barbara Beaudin2011-10
Barbara C Beaudin2010-01
Barbara J Beaudin2010-01
Brandon W. Chan2009-04
Christopher A. McFadden2017-08
Christopher J. Olivia2014-06
Christopher R. McFadden2010-12
Christopher R. Olivia2010-12
Christopher T McFadden2010-01
Christopher T Olivia2010-01
Daniel J. Brailer2014-06
Derek R. Armfield2009-04
Jeremy Burtel2017-08
John C Prior2010-01
John T. Prior2011-10
Koleman J. Karleski2014-06
Koleman R. Karleski2010-01
Roy J. Ziegler2014-06
Roy T. Ziegler2011-10
Roy Ziegler2017-08
Ruth Wallace2017-08
Registry & provenance

Foundation Radiology, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1461475
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Havasu Regional Medical Center, LlcHospitals and PhysiciansSeries A$18.3M$50.3Msame sector · same stage
Elemeno Health, Inc.Hospitals and PhysiciansSeries A$20.5M$20.0Msame sector · same stage
AndHealth LLCHospitals and PhysiciansSeries A$15.0M$50.0Msame sector · same stage
Upper Cumberland Healthcare Initiatives, LLCHospitals and PhysiciansSeries A$14.2M$31.2Msame sector · same stage
Forest Park Medical Center at Austin, LLCHospitals and PhysiciansSeries A$12.5M$30.6Msame sector · same stage
Forest Park Medical Center at Fort Worth, LLCHospitals and PhysiciansSeries A$12.5M$30.6Msame sector · same stage
Forest Park Medical Center at Kansas City, LLCHospitals and PhysiciansSeries A$12.5M$30.6Msame sector · same stage
Forest Park Medical Center at San Antonio, LLCHospitals and PhysiciansSeries A$12.5M$30.6Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Premier Imaging Holdings, LLCHospitals and PhysiciansSeries C$1.8B82%
Array Radiology, LLCOther Health CarePre-Seed$534K79%
Hastings Medical Imaging, LLCHospitals and PhysiciansPre-Seed$11.4M79%
Radiology Partners Holdings, LLC
Excellence in Imaging
Other Health CareGrowth/Late$9.1B79%
Lighthouse Surgery Holdings, LlcHospitals and PhysiciansSeed$34.9M79%
Strategic Radiology LLCHospitals and PhysiciansSeed$69.6M78%
Translational Imaging Innovations, Inc.Other Health CarePre-Seed$14.2M78%
ApolloMD Partners, Inc.Hospitals and PhysiciansSeed$1.5M78%
Frequently asked
How much funding has Foundation Radiology, Inc. raised?
Foundation Radiology, Inc. has raised approximately $19.0M in disclosed capital across 8 recorded financing rounds, aggregated from public filings.
What is Foundation Radiology, Inc.'s estimated valuation?
Provath's modeled valuation for Foundation Radiology, Inc. is approximately $30.0M (modeled range $2.1M–$163.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Foundation Radiology, Inc. at?
Foundation Radiology, Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Thu Aug 31.
What does Foundation Radiology, Inc. do and where is it based?
Foundation Radiology, Inc. operates in the Hospitals and Physicians sector, based in PITTSBURGH.
Explore related

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