PENRAD Imaging
PENRAD Imaging is a private freestanding medical imaging provider operating six ACR-accredited centers across Colorado Springs and the Pikes Peak region, delivering MRI, CT, PET/CT, mammography, ultrasound, and other diagnostic imaging interpreted by sub-specialty radiologists.
- Company typePrivate
- Founded1987
- HeadquartersColorado Springs, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What PENRAD Imaging does
PENRAD Imaging, LLC is a private, freestanding outpatient medical imaging provider headquartered in Colorado Springs, Colorado. The company was created in 1987 as a joint venture between Colorado Springs Radiologists, PC (a regional group of board-certified, fellowship-trained, sub-specialized radiologists) and Centura Health, building on outpatient imaging services first established by the radiologist group in 1978. PENRAD operates six state-of-the-art imaging centers across Colorado Springs, Monument, and the Pikes Peak region, with services spanning MRI (including 3T, Wide Bore, and Breast MRI), CT (including CT HeartScreen for coronary calcium scoring), PET/CT, Nuclear Medicine, 3D Mammography (Tomosynthesis), Ultrasound, X-ray (walk-in available), Bone Density (DEXA), and Fluoroscopy, with all equipment accredited by the American College of Radiology.
The business model is fee-for-service imaging, billed to patients and insurance carriers; PENRAD participates with most major medical, workmen's compensation, and auto insurance carriers, and additionally offers competitive self-pay pricing and specialty screening programs such as a $149 Heart Screen. The primary go-to-market motion is referral-based: patients are referred by regional physicians and other providers (Penrose-St. Francis hospitals and clinics are served by the radiologist group), scheduled by phone or online request, with X-ray accepted as walk-in. Referring providers access images, reports, and patient status through the FujiFilm Synapse Mobility HIPAA-compliant portal.
Operationally, PENRAD is structured around sub-specialty radiology interpretation rather than general reads, positioning the company as the largest freestanding radiology provider in Southern Colorado and the leading imaging provider in the Pikes Peak region, with results typically reported to referring physicians within 48–72 hours. Patient-facing digital infrastructure includes an online patient portal for reports and an ImaginePay-enabled online bill payment channel. The company does not disclose revenue, headcount in dollar terms, or payor mix, and there is no indication of venture capital, private equity, or institutional investor ownership.
PENRAD Imaging firmographics
Firmographics- Name
- PENRAD Imaging
- Legal name
- PENRAD Imaging, LLC
- Website
- https://penrad.org
- Company type
- Private
- Founded year
- 1987
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- PENRAD Imaging is a private freestanding medical imaging provider operating six ACR-accredited centers across Colorado Springs and the Pikes Peak region, delivering MRI, CT, PET/CT, mammography, ultrasound, and other diagnostic imaging interpreted by sub-specialty radiologists.
- Ownership category
- akta.pro rank
PENRAD Imaging industry classification
Industry- Product category
- Diagnostic Imaging Services
- NAICS
- Diagnostic Imaging Centers (621512)
- SIC
- Services-Specialty Outpatient Facilities, Nec (8093)
- akta.pro primary industry
- Radiology Imaging Centers (X-ray/CT/MRI/Ultrasound) (HLAFAKAA)
- akta.pro secondary industries
- Advanced Imaging & Specialty Radiology Centers (PET/CT, Nuclear Medicine, Interventional Radiology) (HLAFAKAB), Nuclear Medicine Clinical Services & Therapy Centers (HLAIAGAI)
Keywords
Where PENRAD Imaging is headquartered
LocationHeadquarters
- HQ city
- Colorado Springs
- HQ country
- United States
- HQ region
- North America
Offices7 records
Markets served
PENRAD Imaging business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Infrastructure, Operations, Supply Chain, Marketing or Sales, Others
Revenue model
- Medical Imaging Services: Fee-for-service medical imaging procedures billed to patients and/or their insurance carriers. Services include MRI, CT, PET/CT, Nuclear Medicine, Mammography, Ultrasound, X-ray, Bone Density, and Fluoroscopy. The organization participates with most major medical insurance carriers, workmen's compensation carriers, and auto carriers.
- Self-Pay Services: Competitive self-pay discounted rates offered to patients without health insurance. Cash pricing available for top 15 exams.
- Specialty Screening Programs: Heart Screen Special offered at $149, valid year-round at Tri-Lakes location. Mammography screening services also offered.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Heart Screen Special - $149 |
| Other | Pay-as-you-go | Self-Pay / Cash Pricing |
| Transaction based/ take rate | Pay-as-you-go | Insurance-Based Imaging Services |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels4 records
PENRAD Imaging product offering
Product offeringCore offering
PENRAD Imaging operates six freestanding outpatient imaging centers in Southern Colorado that deliver a comprehensive range of diagnostic imaging services — MRI, CT, PET/CT, Nuclear Medicine, Mammography (including 3D Tomosynthesis), Ultrasound, X-ray, Fluoroscopy, and Bone Density (DEXA) — interpreted by fellowship-trained, sub-specialty radiologists on ACR-accredited equipment. Supporting offerings include a HIPAA-compliant provider portal (Synapse Mobility by FujiFilm), an online patient portal for accessing reports, and online bill payment via ImaginePay.
Product overview
PENRAD Imaging provides comprehensive medical imaging services as a single unified offering, not a modular platform. The company's portfolio consists of nine core imaging services: Bone Density (DEXA), CT Scan, Fluoroscopy, Mammography (including 3D Tomosynthesis), MRI (including 3T MRI, Wide Bore, Breast MRI, and MRA), Nuclear Medicine, PET Scan, Ultrasound, and X-ray. These services are delivered through six state-of-the-art imaging centers throughout Colorado Springs and the Pikes Peak region. Supporting patient-facing services include a Patient Portal for accessing medical records and an online bill payment system. For referring providers, PENRAD offers a Mobility portal for image and report access. The services are connected by a unified approach where all imaging equipment is ACR-accredited and interpreted by fellowship-trained, sub-specialty radiologists, with results delivered to referring physicians typically within 48-72 hours.
Differentiator
Problem solved
Functional benefit
Products and services
- MRI (Magnetic Resonance Imaging) Diagnostic imaging using magnetism, radio waves, and computer processing to create detailed images of body parts without radiation exposure; offered to patients of referring physicians across multiple PENRAD imaging centers and interpreted by sub-specialty radiologists.
- CT Scan (Computed Tomography) Computed Tomography using specialized X-ray equipment to obtain cross-sectional images of tissues and organs from different angles; offered to patients for diagnostic workups and screening examinations (including CT HeartScreen).
- Mammography Low-dose X-ray screening and diagnostic breast imaging including 3D Mammography (Tomosynthesis), performed on FDA-certified and ACR-accredited equipment for early breast cancer detection.
- PET/CT Scan Positron Emission Tomography combined with CT using small amounts of radioactive tracers to evaluate organ and tissue function, identifying cancerous cells and other abnormalities at the metabolic level.
- Nuclear Medicine Imaging using radiopharmaceuticals to capture images based on energy emitted from radioactive substances administered to patients, ACR accredited, for functional and metabolic assessment of organs and disease.
- Ultrasound Diagnostic imaging using high-frequency sound waves to create images of tissues, organs, vasculature, and (with breast ultrasound accreditation) breast tissue, performed without radiation.
- X-ray Standard X-ray imaging of bones, joints, chest, and detection of fractures, infections, or foreign objects; available on a scheduled and walk-in basis at designated PENRAD locations.
- Fluoroscopy Live X-ray imaging technology that visualizes motion in bones, joints, organs, and body systems — often with contrast agents — for real-time diagnostic and interventional guidance, offered at Sisters Grove Pavilion.
- Bone Density (DEXA) Bone Densitometry test using low-dose X-ray imaging for early detection of osteoporosis and bone loss, typically used for routine screening of at-risk patients.
- Patient Portal Online portal (myreport.penrad.org) that lets patients view their imaging reports, access medical records, and manage their health information following an exam.
- Online Bill Payment 24/7 online bill payment service through the ImaginePay platform allowing patients to securely pay medical bills for imaging services rendered.
- Provider Portal (Synapse Mobility) HIPAA-compliant web-based portal powered by FujiFilm Synapse Mobility that allows referring physicians and clinical staff to view images, reports, patient status, and download studies; available as desktop and mobile (iPhone/iPad) versions.
Quantifiable outcome
- Heart Screen Special available year-round for $149, enabling early identification of coronary artery disease risk
- +2 more outcomes
Companies that use PENRAD Imaging
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
PENRAD Imaging technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
PENRAD Imaging partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- Centura HealthcoreCentura Health is a partner in the PENRAD Imaging joint venture. PENRAD Imaging operates imaging centers at Centura Health facilities including the Common Spirit Neighborhood Health Center. This partnership positions PENRAD as part of the larger Centura Health network serving Southern Colorado.
- Colorado Springs Radiologists, PCcoreColorado Springs Radiologists, PC is the exclusive provider of professional diagnostic and interventional radiology services for Penrose-St. Francis hospitals and clinics. The radiologist group formed the joint venture with Centura Health in 1987 to create PENRAD Imaging. All radiologists are board-certified and fellowship-trained in sub-specialties.
- FujiFilm (Synapse)corePENRAD uses FujiFilm's Synapse Mobility platform as the HIPAA-compliant image storage and retrieval system enabling providers to view images remotely. The provider portal (Mobility) is accessed at mobility.penrad.org.
- American College of RadiologycoreAmerican College of Radiology (ACR) provides accreditation for all PENRAD imaging equipment. ACR accreditation is described as the highest quality standard in America, requiring comprehensive review to earn and maintain.
Scale indicators5 records
Recent moves7 records
Expansion highlights5 records
PENRAD Imaging competitors and assessment
Company assessmentDirect peers
- Akumin: Outpatient imaging operator with freestanding and mobile MRI/CT centers across multiple U.S. states. Comparable freestanding diagnostic imaging model with similar modality breadth.
- SimonMed Imaging: One of the largest privately held outpatient imaging networks in the U.S., offering MRI, CT, PET/CT, mammography, ultrasound, and X-ray. Closely comparable in modality mix and sub-specialty reading model.
- RAYUS Radiology: National freestanding imaging chain (formerly Center for Diagnostic Imaging) offering MRI, CT, PET/CT, mammography, and other modalities with sub-specialty radiologists. Directly comparable in service mix and freestanding outpatient model.
- Diversified Radiology: Sub-specialty radiology group providing imaging interpretation services across hospital and outpatient settings. Comparable in sub-specialty teleradiology and outpatient imaging delivery model.
- US Radiology Specialists (Touchstone Medical Imaging): Network of freestanding imaging centers and radiology practices across the U.S. Comparable as a multi-modality outpatient imaging provider with sub-specialty radiologist coverage.
Broad incumbents
- Concentra (Select Medical): National occupational health and imaging provider offering X-ray, MRI, and other diagnostic services to employers and payors. Comparable as a freestanding imaging operator serving referral-based demand.
- RadNet: Largest U.S. outpatient imaging network operating ~370 centers across multiple states. Comparable as a multi-modality freestanding imaging operator, though substantially larger, publicly traded, and geographically diversified.
- UCHealth: Large Colorado-based academic health system operating hospitals and outpatient imaging. Competes with PENRAD for advanced imaging referrals in Southern Colorado through its owned imaging infrastructure.
Regional players
- Health Images: Denver-based outpatient imaging chain operating multiple centers across Colorado. Closest regional peer, offering MRI, CT, mammography, and other modalities in the same state.
Others
- CommonSpirit Health (Centura Health): Parent JV partner and operator of Penrose-St. Francis and other Southern Colorado facilities. Adjacent as both JV partner and indirect competitor via hospital-based imaging.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
PENRAD Imaging social profiles
Digital presencePENRAD Imaging financial estimates
Financial estimateRevenue estimate
Valuation estimate
PENRAD Imaging leadership team
Management profileNumber of profiles
Profiles1 record
PENRAD Imaging funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PENRAD Imaging M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PENRAD Imaging
What does PENRAD Imaging do?
PENRAD Imaging operates six freestanding outpatient imaging centers in Southern Colorado that deliver a comprehensive range of diagnostic imaging services — MRI, CT, PET/CT, Nuclear Medicine, Mammography (including 3D Tomosynthesis), Ultrasound, X-ray, Fluoroscopy, and Bone Density (DEXA) — interpreted by fellowship-trained, sub-specialty radiologists on ACR-accredited equipment. Supporting offerings include a HIPAA-compliant provider portal (Synapse Mobility by FujiFilm), an online patient portal for accessing reports, and online bill payment via ImaginePay.
Is PENRAD Imaging a public or private company?
PENRAD Imaging is a private company. It is classified as unknown and is currently operating.
When was PENRAD Imaging founded?
PENRAD Imaging was founded in 1987. It employs 101 to 250 people.
Where is PENRAD Imaging based?
PENRAD Imaging is headquartered in Colorado Springs, United States, in the North America region.
How does PENRAD Imaging make money?
Three revenue lines are on record. Medical Imaging Services are the primary driver. The others are self-Pay Services and specialty Screening Programs.
Who are PENRAD Imaging's main competitors?
Direct peers on record are Akumin, SimonMed Imaging, RAYUS Radiology, Diversified Radiology and US Radiology Specialists (Touchstone Medical Imaging). Broad incumbents are Concentra (Select Medical), RadNet and UCHealth. Health Images is listed as a regional player. CommonSpirit Health (Centura Health) is listed as an others.
Does PENRAD Imaging have an API?
No public API is recorded for PENRAD Imaging.
What industry is PENRAD Imaging in?
PENRAD Imaging's product category is Diagnostic Imaging Services. Its primary akta.pro industry code is HLAFAKAA, Radiology Imaging Centers (X-ray/CT/MRI/Ultrasound), with a secondary code of HLAFAKAB, Advanced Imaging & Specialty Radiology Centers (PET/CT, Nuclear Medicine, Interventional Radiology). Its NAICS code is 621512 and its SIC code is 8093.