Physician sues former practice over $20M PE deal

An Orchard Park, N.Y.-based radiologist is suing his former practice, claiming he was shortchanged when it sold assets to private equity firm Rezolut for $20 million in 2023, Buffalo Business First reported Feb. 27. 

Advertisement

Gregory Ball, MD, filed the lawsuit against Southtowns Radiology Associates and others on Feb. 24, according to the report. Dr. Ball, who became a shareholder in 2020, opposed the sale, arguing it was rushed, but the practice moved forward. 

He alleged that partners intimidated and coerced him into signing “redemption agreements,” forcing him to sell his ownership interest for $313,000 before the deal closed. 

Dr. Ball contends in the lawsuit that he is owed at least $2 million and that the practice also failed to properly transfer his 401(k), costing him another $100,000. He has since left the practice but continues to practice medicine in the area. 

Becker’s has reached out to Southtown Radiology Associates and will update this story if more information becomes available. 

Advertisement

Next Up in ASC News

Advertisement

Comments are closed.