RadNet, Inc. announced that it has signed a definitive agreement to purchase the assets of six imaging centers in the greater Houston, Texas MSA. This acquisition, which is anticipated to be completed before the end of the second quarter of 2024, is RadNet’s second announced transaction in the Houston area. Upon closing, the transaction will bring the number of RadNet centers in the Houston MSA to 13.
The acquired assets include six imaging centers in the Houston MSA. The centers offer a broad range of imaging services, including MRI, CT, mammography, ultrasound and X-ray, and currently operate under the American Health Imaging brand.
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 and Arizona. It was founded in 1985 and has approximately 9,000 employees. In 2023, the company reported revenue of $1.4 billion, and EBITDA of about $280 million.
Shortly after the completion of the acquisition, RadNet intends to transition the branding of these centers to Houston Medical Imaging. RadNet anticipates that the acquired centers will add more than 100,000 procedures and $15 million of revenue on an annual basis. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this transaction represents the 39th Laboratories, MRI and Dialysis acquisition of 2024, and the 22nd in the diagnostic specialty. There were 63 diagnostic transactions announced during 2023, and 70 announced during 2022.
