Key Developments For RadNet, Inc.
RadNet, Inc. (RDNT.O) (Consolidated Issue listed on NASDAQ Global Market)
RadNet Inc. Lowers High End Of Prior FY 2009 Guidance
RadNet Inc. updated fiscal 2009 guidance and expects revenue to be in the range of $515-$535 million and adjusted EBITDA of $105-$110 million. Previously the Company anticipated revenue in the range of $515-$545 million and adjusted EBITDA in the range of 105-$115 million. According to Reuters Estimates, analysts are expecting the Company to report revenue of $524 million for the same period.
RadNet Inc. Reaffirms FY 2009 Guidance
RadNet Inc. reaffirmed its fiscal 2009 Guidance and expects revenue to be in the range of $515-545 million and adjusted EBITDA of $105-$115 million . According to Reuters Estimates, analysts are expecting the Company to report revenues of $525 million for the same period.
RadNet Inc. Closes Acquisition Of Nine New Jersey Centers From Medical Resources
RadNet Inc. announced that it has closed the previously announced acquisition of substantially all of the assets of nine imaging centers in New Jersey from Medical Resources for $2.1 million. RadNet also announced that it has sold the only acquired facility located in Southern New Jersey, along with some legacy image management systems, to Tristate Imaging for $650,000. This facility, called South Jersey MRI in Vineland, New Jersey, is a single modality open MRI facility and was the only Medical Resource facility that was not in a market contiguous with any other RadNet centers. As part of the purchase price, RadNet acquired a building in Union, New Jersey that houses one of the imaging centers. RadNet plans to sell the building, which in addition to the $650,000 of proceeds received from the sale of South Jersey MRI, will further lower RadNet's net purchase price of the transaction.
RadNet Inc. Reaffirms FY 2009 Guidance
RadNet Inc. reaffirmed its fiscal 2009 Guidance of $515-545 million of revenue and $105-$115 million of Adjusted EBITDA. According to Reuters Estimates, analysts are expecting the Company to report revenues of $528 million for the same period.
RadNet Inc. Announces Acquisition Of Ten Imaging Centers In New Jersey And New York
RadNet Inc. announced the acquisition of 10 imaging centers in New Jersey and New York From Medical Resources. Acquisition adds eight imaging centers in Northern New Jersey, one center in Southern New Jersey and once center in lower Westchester County, NY. RadNet is acquiring the assets, excluding working capital for a cash price of $2.65 million. No debt or liabilities are being assumed. Eight of the ten centers, which perform a combination of MRI, CT, Mammography, X-ray and other specialized procedures. In conjunction with the acquisitions, RadNet plans to contract with Diagnostic Radiology Associates, PA, a professional radiology group, to provide the professional medical interpretation at the New Jersey facilities.
