RadNet to acquire assets of six imaging centers in Houston

RadNet announces that it has signed a definitive agreement to purchase the assets of six imaging centers in the greater Houston, Texas metropolitan area. This acquisition, which is anticipated to be completed before the end of the Q2, is RadNet’s second announced transaction in Houston, and upon closing, will bring the number of RadNet centers in this geography to 13. The previously announced acquisition of seven imaging centers from Houston Medical Imaging, LLC was completed on April 1st. The six multimodality centers to be acquired offer a broad range of imaging services, including MRI, CT, mammography, ultrasound and x-ray, and currently operate under the American Health Imaging brand. Shortly after the completion of the acquisition, we intend to transition the branding of these centers to Houston Medical Imaging. RadNet anticipates that the acquired centers will add over 100,000 procedures and $15M of revenue on an annual basis. The asset acquisition is subject to customary closing conditions.