StatRad Teleradiology Alternatives Compared on Ownership, Cost and Contract Terms

The short answer: StatRad is a San Diego teleradiology provider, founded in 1995, that has belonged to I-MED Radiology Network, Australia's largest imaging group, since July 1, 2024. In May 2026 I-MED's private equity owner, Permira, agreed to sell I-MED to Jardine Matheson for about US$2.4 billion, so a StatRad contract you sign this year may end up with a third owner in three years. The two national alternatives are vRad, owned by Radiology Partners, and ONRAD, which is independent. If your real problem is a daytime list your own radiologists cannot finish rather than overnight coverage, the alternative may not be another reading service at all.

Ownership facts below come from the companies' own announcements and trade press. Federal contract figures are prime award records from USAspending.gov, retrieved September 22, 2026.

Who owns StatRad?

I-MED Radiology Network owns StatRad. The deal closed on July 1, 2024 and was I-MED's entry into the US market. At the time StatRad was described as the second-largest teleradiology provider in the country and the largest independent one, and Radiology Business reported that I-MED expected it to add about $90 million in annual revenue. I-MED's own announcement put StatRad at more than 90 US-based radiologists, more than 1.8 million scans a year and over 190 hospitals in 30 states.

I-MED itself is changing hands. Permira, which bought I-MED from EQT in 2018, announced on May 25, 2026 that it had agreed to sell the whole business to Jardine Matheson, the Hong Kong conglomerate, at an enterprise value of A$3.4 billion. Australia's competition regulator approved the transaction, which was expected to complete later in 2026. I-MED also holds a minority stake in Harrison.ai, the Sydney company that now owns the Annalise.ai radiology AI products, and that stake travels with the sale.

None of this says anything about the quality of StatRad's reads. It does mean the entity on the other side of your contract sits under a parent that is itself being sold, and that is worth reading the contract for.

StatRad vs vRad vs ONRAD as national teleradiology providers compared

Three providers dominate the national teleradiology market for US hospitals. Here is how they line up on the facts you can check.

The federal line is the only place any of the three has checkable prices, and StatRad has no prime awards under its own name at all. That leaves you negotiating StatRad's rate with no public reference point. The two pages that go through the federal record line by line are Virtual Radiologic (vRad) cost and alternatives and ONRAD radiology and teleradiology cost, and Real Radiology LLC teleradiology cost covers a third, radiologist-owned provider. The pattern is useful for a StatRad negotiation too. vRad sold hundreds of small facility-level orders, while ONRAD sold annual whole-department contracts, and those two shapes lead to very different pricing conversations.

How much does StatRad teleradiology cost?

StatRad publishes no pricing and quotes per client, so any figure you hear secondhand is somebody else's deal. Teleradiology in general is priced three ways: per study, per covered hour, or as a monthly or annual retainer, and the rate moves with modality mix, turnaround guarantees and whether the read is preliminary or final. Teleradiology pricing works through all three models with a blended hourly rate derived from a federal award, which gives you a benchmark to hold a StatRad quote against.

What you can control is what the quote has to show. Ask for the rate per modality rather than one blended number, the price difference between preliminary and final reads, the STAT premium and how STAT is defined, and what happens to the rate if your volume moves more than 20 percent in either direction. A provider that will not break the number down is asking you to trust the total.

What a change of ownership means for a StatRad contract

The clauses that matter most right now are not the rate. They are the ones that decide what happens when the owner changes.

• Assignment and change of control. Can the provider assign your contract to an affiliate or a buyer without your consent? If the answer is yes, you have no say in who reads your studies after a sale.
• Termination on change of control. A right to exit without penalty within 90 or 180 days of an ownership change costs the provider little and protects you a lot. Ask for it at renewal.
• Data use. Your images and reports are valuable training data. If the parent group also holds a stake in a radiology AI company, as I-MED does, get a plain statement of whether de-identified data from your studies can be used for model development, and by whom.
• Non-solicitation. Check whether the clause stops you from hiring a radiologist who has been reading your studies, and for how long after the contract ends.
• Pricing through the transition. Lock the rate schedule for the full term, with any uplift capped, so an integration under new ownership does not arrive as a price increase.

Hospitals that signed with several reading services over the years often cannot say what their own contracts say, because the agreements live as scanned PDFs across departments. If you need to find every assignment and termination clause across a stack of signed agreements before a renewal, it is faster to extract the clauses from the scanned contracts into one table than to read them one by one.

When switching away from StatRad makes sense, and when it does not

Switching providers is expensive. New credentialing at every facility, new licensure checks for every reader in every state, a new PACS and worklist integration, and a period where turnaround wobbles while the new panel learns your protocols. That is months of work, so do not switch over ownership news alone.

A switch starts to make sense when one of three things is true: the provider will not agree to change-of-control protection at renewal, measured turnaround on STAT studies has drifted past what the contract guarantees, or you need subspecialty depth the current panel cannot staff. If none of those apply, the stronger move is usually to renegotiate with the ownership change as leverage and keep the integration you already have.

If you are still deciding which shape of provider fits, the teleradiology companies comparison sorts national services, regional practices and platform vendors. If your gap is only overnight, nighthawk radiology coverage cost covers what after-hours reads are priced at.

The alternative that is not a reading service

Plenty of what goes out to a teleradiology provider is not genuinely overnight work. It is daytime studies that did not get read, pushed into the evening queue because the list did not clear. Every one of those is billed. Cut that backlog and the outsourced volume falls without touching the coverage contract.

That is the job Radiological.ai does inside your own reading room. It flags suspected findings for a second look, it prioritizes the worklist so urgent studies come first rather than waiting their turn, and it drafts the structured report into your template so your radiologist edits instead of dictating from scratch. The responsible radiologist reviews, edits and signs every study. It does not provide overnight coverage and never will, because it does not read studies. What it changes is how far the hours you already pay for go.

The cost curves also run in opposite directions. A per-study teleradiology contract gets more expensive exactly when your volume grows. Our pricing is $299 per reading radiologist per month on the annual Group plan whether the list is 40 studies or 140. Groups that run both usually send less out by the second year, and that is the number to bring to the StatRad renewal.

Common questions about StatRad

Is StatRad a US company?

StatRad is a US teleradiology provider based in San Diego, founded in 1995, with more than 90 US-based radiologists reading for US hospitals. Its owner is not American: StatRad has been part of Australia's I-MED Radiology Network since July 1, 2024, and I-MED agreed in May 2026 to be sold to Jardine Matheson of Hong Kong.

How many radiologists does StatRad have?

More than 90 US-based radiologists, according to I-MED's acquisition announcement, reading more than 1.8 million scans a year for over 190 hospitals in 30 states. For comparison, ONRAD reports more than 160 radiologists after its Direct Radiology deal, and vRad brought about 500 teleradiologists into Radiology Partners in 2020.

What are the alternatives to StatRad teleradiology?

The two national alternatives are vRad, part of Radiology Partners, and ONRAD, the largest independent provider after it bought Direct Radiology from Philips in 2025. Regional reading groups are a third option with thinner panels. If the problem is daytime capacity rather than overnight coverage, radiology AI that prioritizes the worklist and drafts reports is a fourth.

Does StatRad do preliminary or final reads?

StatRad offers teleradiology reads for hospitals and radiology groups around the clock, and like other national providers it contracts for both preliminary and final interpretations. Which one you buy changes the economics: a preliminary read still needs your radiologist to finalize it the next morning. Make any quote state the rate for each, by modality.