Fort Worth medical imaging company thriving through expansion

Most patients scheduling a medical imaging procedure like an MRI or CT scan are hoping for three things: convenience, affordability and useful results. In a time when healthcare costs are often prohibitively expensive, even for subpar patient care, it's rare to find an imaging center that delivers all three. But that's the promise of Midtown Medical imaging, and BOK Financial® helps the company back it up.

Con sede en Fort Worth, Texas, Midtown Medical Imaging fue fundada en 2010 por un grupo de veteranos de la industria con décadas de experiencia trabajando con grandes compañías de diagnóstico por imágenes, tanto en el aspecto clínico y como el de gestión. Después de algunos años en el negocio, vieron la necesidad de hacer las cosas de manera diferente.

"We could see the industry starting to struggle as the market became saturated and technology evolved," said Rocky Vig, Midtown's co-founder and managing partner. "En 2013, tomamos la decisión de cambiar nuestro enfoque para ofrecer una resonancia magnética de campo ultra alto de 3 Tesla, que es el estándar de oro para la más alta calidad y las imágenes más detalladas".

 

That strategic pivot changed everything for Midtown. Today, the company operates six imaging centers and is expanding across the Dallas-Fort Worth Metroplex-but not without financial support. Después de todo, comprar máquinas multimillonarias y construir instalaciones altamente especializadas requiere no solo una visión, sino también algunas maniobras financieras astutas.

"When we came to BOK Financial, we only had one facility. The true test would be whether they could provide everything we needed to grow the business," said Vig. "We would later find out just how valuable they would be."

Pasión por los pacientes y el rendimiento
Like any healthy relationship, Midtown's work with BOK Financial is built on communication and understanding. Comenzó con la necesidad de Midtown de adquirir nuevos equipos de imágenes cuando planeaba abrir su segunda ubicación.

"Equipment dealers want to finance the equipment for you and, of course, they know their machines very well, but there are a lot of other moving parts involved with outfitting a new imaging facility," said Vig. He described how the process includes not just negotiating the purchase and financing of 3T MRI machines, which cost between $1-3 million each, but also leasing new properties, hiring new staff and even cutting through walls and hiring crane operators to install the massive machines. Existen consideraciones financieras significativas en todo momento, lo que requiere un delicado acto de equilibrio para administrar el capital operativo.

“BOK Financial invested the time and energy to understand the process and support our business from a holistic perspective,” Vig said.

It’s a matter of listening to a client’s specific challenges and figuring out how the bank can make things easier for them, said Kris Watson, Fort Worth commercial banking team leader for BOK Financial.

That problem-solving mindset also proved to be important when the pandemic struck in 2020. As an essential healthcare service provider, Midtown encountered unique challenges such as revenue disruption, supply shortages and increased expenses to keep patients and employees safe.

“We had to make some significant adjustments, but BOK added value at every step, helping us become more financially nimble and resilient.”

- Rocky Vig, Midtown’s co-founder and managing partner

The benefits of a one-stop shop
Midtown now relies on BOK Financial for all its banking needs. Beyond equipment financing, the medical imaging company uses merchant services to process on-site card payments and treasury services help accelerate collections for billings plus a line of credit to keep working capital flowing when receivables are delayed.

“The simplicity of viewing all of their services under the same account saves a lot of time and helps the staff stay focused on delivering the best patient care,” said Watson.

Vig agrees, but he also credits Watson’s hands-on approach for why he stays with BOK Financial.

"Kris ha sido increíble. He often calls just to check in-to genuinely find out if there's anything he can do to help us," said Vig. "We look forward to having them at our side as we continue to expand."

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