RadNet, Inc. announced that it has acquired seven imaging centers in the Houston, Texas MSA from Houston Medical Imaging (HMI). This acquisition marks RadNet’s entry into the Houston area and is anticipated to close during Q2 2024.
HMI is a radiologist-owned and operated diagnostic imaging clinic offering a full array of diagnostic and therapeutic imaging services to the Houston MSA since its inception in 1998.
RadNet, Inc. is a provider of freestanding, fixed-site diagnostic imaging services and related information technology solutions (including artificial intelligence) in the United States. RadNet has a network of 366 owned and/or operated outpatient imaging centers. RadNet’s markets include California, Maryland, Delaware, New Jersey, New York, Florida, Texas and Arizona. It was founded in 1985 and has approximately 9,000 employees. In 2022, the company reported revenue of $1.4 billion, and EBITDA of about $280 million.
The acquisition is subject to customary closing conditions. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this transaction represents the 24th Laboratories, MRI and Dialysis acquisition of the year, and the 14th in the diagnostics specialty. During 2023, there were 125 Laboratories, MRI and Dialysis and 63 diagnostic transactions announced. This also marks RadNet’s first transaction since November 2022, when it acquired Heart & Lung Health for an undisclosed price.
