Key Takeaways
- • Blue Sea Capital's One Physics completed its 22nd acquisition with the purchase of Petrone Associates, a Staten Island-based diagnostic medical physics and radiation safety services provider founded in 1982.
- • The acquisition expands One Physics' geographic footprint in the New York metropolitan market and adds diagnostic and therapy medical physics expertise, radiation safety services, and a CAMPEP-accredited residency program to its service portfolio.
- • Blue Sea initially invested in One Physics (formerly Apex Physics Partners) in 2019, establishing the platform company that has since grown through multiple acquisitions in the healthcare compliance and medical physics sector.
- • Petrone serves hospitals, imaging centers, and healthcare providers, positioning One Physics to deepen its market penetration in diagnostic imaging and radiation compliance services across the Northeast.
Summary
One Physics, the healthcare compliance platform backed by Blue Sea Capital, has acquired Petrone Associates as its 22nd add-on acquisition, signaling continued consolidation activity within the medical physics and radiation safety services sector. The transaction, announced May 19, 2026, expands One Physics' operational presence in the New York metropolitan market through the addition of Petrone, a Staten Island-based provider of diagnostic medical physics and radiation safety services.
Petrone Associates, established in 1982 by founder Thomas Petrone, brings complementary capabilities to One Physics' existing service offerings. The acquisition adds diagnostic and therapy medical physics expertise, radiation safety consulting, and notably, a CAMPEP-accredited residency program—a credential that signals academic and professional standing in the medical physics field. These capabilities enhance One Physics' ability to serve hospitals, imaging centers, and broader healthcare provider networks across the region.
Blue Sea Capital established its position in this sector through its 2019 investment in One Physics, then operating under the name Apex Physics Partners. The platform's 22-acquisition track record demonstrates a consistent buy-and-build strategy, consolidating fragmented service providers in radiation testing, imaging compliance, and medical physics. This acquisition pattern reflects Blue Sea's strategy of building scale and geographic reach within healthcare's highly regulated compliance and safety services market, where regulatory expertise and accredited services command premium positioning with hospital and healthcare system customers.
Petrone Associates, established in 1982 by founder Thomas Petrone, brings complementary capabilities to One Physics' existing service offerings. The acquisition adds diagnostic and therapy medical physics expertise, radiation safety consulting, and notably, a CAMPEP-accredited residency program—a credential that signals academic and professional standing in the medical physics field. These capabilities enhance One Physics' ability to serve hospitals, imaging centers, and broader healthcare provider networks across the region.
Blue Sea Capital established its position in this sector through its 2019 investment in One Physics, then operating under the name Apex Physics Partners. The platform's 22-acquisition track record demonstrates a consistent buy-and-build strategy, consolidating fragmented service providers in radiation testing, imaging compliance, and medical physics. This acquisition pattern reflects Blue Sea's strategy of building scale and geographic reach within healthcare's highly regulated compliance and safety services market, where regulatory expertise and accredited services command premium positioning with hospital and healthcare system customers.
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