One Physics adds Petrone Associates
The deal brings a CAMPEP-accredited residency program and the largest independent medical physics provider in the New York City metro area to One Physics, expanding its national footprint to more than 45 states.
Takeaways
- Petrone Associates is a provider of diagnostic medical physics and radiation safety services.
- One Physics is acquiring Petrone Associates with backing from Blue Sea Capital.
- The target serves healthcare providers, including hospitals and imaging centers across New York City metropolitan area.
Blue Sea Capital-backed One Physics has deepened its presence in the New York metropolitan market with the acquisition of Petrone Associates, the largest independent provider of diagnostic medical physics and radiation safety services in the area.
The deal is the platform’s 22nd acquisition and gives it a strong local foothold in one of the country’s most important healthcare markets.
Petrone Associates, founded in 1982 by Thomas J.
Petrone, Ph.D., operates from Staten Island, New York, and recently expanded into northern New Jersey.
The firm serves a mix of large hospital systems and specialty imaging centers across the region and has run a CAMPEP-accredited diagnostic medical physics residency program since 2020.
The founder and his team will continue with the business after close.
One Physics is the largest outsourced medical physics services company in North America, with more than 200 physicists and dosimetrists serving over 7,000 client sites in over 45 states.
The company operates seven residency programs across diagnostic and therapy medical physics and provides a suite of services including radiation safety, dosimetry, shielding design, and commissioning.
The Petrone Associates partnership adds density in the Northeast while bringing additional accredited training capacity to the platform.
Blue Sea Capital, the West Palm Beach-based private equity firm with over $1.5 billion in assets under management, backs One Physics.
The sponsor has signaled further deals for the platform in the coming months.
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