VRAD's total revenue increased 8% to $30.8M for quarter ended March 31, 2010

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Virtual Radiologic Corp. (VRAD) is a radiology practice working in partnership with radiologists and hospitals to optimize radiology's role in the delivery of patient care.  Virtual Radiologic Professionals, LLC (VRP), is its affiliated physician-owned medical practice that contracts with independent contractor physicians for the provision of their services to fulfill customer contracts held by vRad or by the Professional Corporations, consisting of Virtual Radiologic Professionals of California, Virtual Radiologic Professionals of Illinois, Virtual Radiologic Professionals of Michigan, Virtual Radiologic Professionals of Minnesota, Virtual Radiologic Professionals of New York and Virtual Radiologic Professionals of Texas.  It provides radiologic interpretations for a range of digital diagnostic imaging modalities, including computed tomography (CT), X-ray or plain film, magnetic resonance imaging (MRI), ultrasound, nuclear medicine and positron emission tomography (PET). 

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In the report, the analyst notes:

"Total revenue increased 8% to $30.8 million for the quarter ended March 31, 2010, compared to $28.6 million for the quarter ended March 31, 2009.  The increase in revenue over the first quarter of 2009 resulted primarily from a 15% increase in the number of hospitals and medical facilities served to 1,205 as of March 31, 2010, representing approximately 21% of all hospitals in the United States.  

"VRAD and Providence Equity Partners, a leading global private equity firm that manages more than $22 billion in equity capital, recently announced that they have entered into a definitive agreement under which Providence will acquire all of the outstanding common stock of VRAD for $17.25 per share in cash."