Profile: RadNet Inc (RDNT.OQ)
19 Dec 2014
RadNet, Inc. (RadNet), incorporated on October 21, 1985, is engaged in providing freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2011, the Company had operated 233 centers directly or indirectly through joint ventures, located in California, Delaware, Maryland, New Jersey, Rhode Island, Florida and New York. The Company's centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders. The Company's services include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), nuclear medicine, mammography, ultrasound, diagnostic radiology (X-ray), fluoroscopy and other related procedures. The Company provides corporate training programs, standardized policies and procedures and sharing ofpractices among the physicians in its regional networks. In July 2014, the Company acquired certain imaging assets located at eight HealthCare Partners Medical Group facilities.
On July 1, 2011, the Company completed the acquisition of a multi-modality imaging center located in Redondo Beach, California from Pacific Imaging, LLC. On April 4, 2011, the Company completed the acquisition of five multi-modality imaging centers in Maryland from Diagnostic Health Corporation. On February 16, 2011, the Company acquired the diagnostic imaging practice of Stuart London, MD in Oakland. On January 3, 2011, the Company completed the acquisition of Imaging On Call, LLC.
Diagnostic Imaging Modalities
The principal diagnostic imaging modalities RadNet uses at its facilities are MRI, CT, PET, Nuclear Medicine, X-ray, Ultrasound, Mammographyand Fluoroscopy. As of December 31, 2011, the Company had 174 MRI systems in operation. As of December 31, 2011, the Company had 102 CT systems in operation. As of December 31, 2011, the Company had 38 PET or combination PET/CT systems in operation. As of December 31, 2011, the Company had 43 nuclear medicine systems in operation. As of December 31, 2011, the Company had 227 X-ray systems in operation. As of December 31, 2011, the Company had 341 ultrasound systems in operation. As of December 31, 2011, the Company had 152 mammography systems in operation. As of December 31, 2011, the Company had 112 fluoroscopy systems in operation.
The Company, through its wholly owned subsidiaries, operated 105 fixed-site, freestanding outpatient diagnostic imaging facilities in California, 61 in the Maryland, 25 in the Rochester and Hudson Valley areas of New York, 16 in Delaware, five in Rhode Island, 18 in New Jersey, as well as three individual facilities in Florida. The Company leases the premises, at which these facilities are located. The Company’s facilities are primarily located in regional networks. The majority of its facilities are multi-modality sites, offering various combinations of MRI, CT, PET, nuclear medicine, ultrasound, X-ray, fluoroscopy services and other related procedures. As of December 31, 2011, the Company performed 3,740,443 diagnostic imaging procedures.
The Company competes with Alliance Healthcare Services, Inc., Diagnostic Imaging Group.
1516 COTNER AVE
LOS ANGELES CA 90025