Smart Choice MRI, which charges patients a flat rate of $600 or less rate for scans, has raised $7 million from Edward-Elmhurst Health.

Smart Choice CEO Rick Anderson says his company will use the latest financing to help fund its rapid expansion. The growth of the Mequon, WI-based business has so far been contained to the Midwest, but it could move into other parts of the country as soon as next year, he says. Read the full Xconomy story here.