MINNEAPOLIS, Dec. 1, 2008 (GLOBE NEWSWIRE) -- Virtual Radiologic Corp. (Nasdaq:VRAD), a leading global provider of teleradiology services, today announced it has gone live with its 1,000th medical facility. The Company began providing teleradiology services to its first facility in 2001 and now serves approximately 16% of all U.S.-based hospitals.
"This is a great milestone in the company's growth," said Chief Executive Officer Sean Casey. "We have always placed the utmost importance on excellence in service and quality of patient care, and it's gratifying to know we are providing value to so many patients and radiology practices. Reaching the 1,000 facility mark demonstrates our continued strong execution and success."
Virtual Radiologic's teleradiology solutions address a growing problem in the health care industry -- the shortage in the number of radiologists to meet increasing demand for diagnostic imaging services. The rapid growth in medical facilities served, along with historical customer contract renewal rates greater than 97%, demonstrates the considerable value customers place on the Company's ability to meet their needs with high quality radiology services delivered with market-leading turnaround times.
About Virtual Radiologic
Virtual Radiologic Corporation (www.virtualrad.com) provides teleradiology solutions to radiology practices and medical centers throughout the United States and internationally. Utilizing market-leading, proprietary workflow technology, Virtual Radiologic physicians perform preliminary and final read interpretations for emergent and non-emergent needs -- day or night, 365 days a year. Virtual Radiologic's American Board of Radiology-certified radiologists are collectively licensed in all 50 states. Virtual Radiologic is Joint Commission-certified and serves over 615 clients supporting more than 1,000 medical facilities.
Safe Harbor for Forward-Looking and Cautionary Statements
Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, in particular, statements about our plans, objectives, strategies and prospects regarding, among other things, our business and results of operations. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of Virtual Radiologic Corporation to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Statements that are not historical facts in this press release are forward-looking statements that involve certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. Except as required by applicable law, Virtual Radiologic Corporation undertakes no duty to update these forward-looking statements due to new information or as a result of future events.