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Franklin & Seidelmann LLC has raised $12.5 through private investment.

Teleradiology firm Franklin & Seidelmann LLC has raised $12.5 million from private investors, according to Clayton Larsen, senior vice president of marketing for the Beachwood firm.

The company has not revealed the deatails of the money-raise. But the business has been slowly changing from a niche teleradiology company to a service that covers any study from a hospital.

Earlier this year, Franklin & Seidelmann added three Critical Access Hospitals — far-flung facilities in mountainous areas that provide acute care — in Pennsylvania, Kentucky and Idaho. At the end of 2008 it announced expanded services that included final reads of scans for night-time emergency departments.

The company has invested millions of dollars in computer and information technology so it can quickly and securely transmit images to subspecialist teleradiologists throughout the country.

“We’ve positioned ourselves from being a subspecialty company to being a comprehensive total solution for radiological needs for community hospitals,” said Clayton Larsen, the company’s senior vice president of marketing.

Other previous investors in Franklin & Seidelmann include Oak Investment Partners, which two years ago invested $25 million to expand the company and improve its technology.

Source: Franklin & Seidelmann