Providence Equity Partners in $294 Million Buyout of Virtual Radiologic

Cleary Gottlieb is representing Goldman Sachs as financial advisor to Virtual Radiologic, a national radiology practice serving over 20% of U.S. hospitals and a leader in the development of radiologist workflow technology, in connection with its acquisition by Providence Equity Partners. The enterprise value of this all-cash buyout is $294 million, with two Providence funds providing guarantees that together cover 100% of the aggregate consideration. The deal was announced on May 17 and closed on July 12.