LOS ANGELES - RadNet, Inc. (NASDAQ: RDNT), a prominent provider of outpatient diagnostic imaging services, has announced a definitive agreement to acquire assets from Houston Medical Imaging, LLC, encompassing seven imaging centers in Houston, Texas. The transaction is expected to be finalized in the second quarter of 2024, marking RadNet's first market expansion since 2020, subject to standard closing conditions.
The centers will maintain the Houston Medical Imaging brand and continue to offer a variety of services such as MRI, CT, PET/CT, X-ray, ultrasound, and mammography. In 2023, these centers collectively conducted over 135,000 procedures and generated revenues exceeding $28 million.
Howard Berger, MD, President and CEO of RadNet, highlighted the strategic value of the Houston market, citing its status as the fourth most populous and second fastest-growing metropolitan area in the U.S.
This acquisition is seen as a foundational step for RadNet to establish and grow a core network in the region. Dr. Berger expressed confidence in RadNet's potential for further expansion through additional acquisitions, new site developments, and partnerships with health systems, as well as the introduction of advanced technologies such as AI and digital health solutions to serve the Houston community better.
The acquisition will also bring over 20 affiliated radiologists and roughly 140 team members into the RadNet family. Dr. Berger emphasized the company's commitment to enhancing patient access and services in Houston, mirroring RadNet's successful approach in other core markets.
RadNet, with a network of 366 owned or operated imaging centers across several states, is recognized as a leading national provider of freestanding, fixed-site diagnostic imaging services. The company employs approximately 9,000 people, including affiliated radiologists, full-time and per diem employees, and technologists.
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