RadNet

RadNet Announces a Proposed Refinancing of its Term Loan and Revolving Credit Facility

Retrieved on: 
Wednesday, April 3, 2024
Growth, RadNet, Bank

LOS ANGELES, April 03, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, today announced a proposed refinancing transaction for its existing term loan and revolving credit facility.

Key Points: 
  • LOS ANGELES, April 03, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, today announced a proposed refinancing transaction for its existing term loan and revolving credit facility.
  • At December 31, 2023, the debt facilities that RadNet intends to refinance included a $679 million term loan balance due April of 2028 and an undrawn $195 million revolving credit facility maturing April of 2026.
  • RadNet is seeking to replace these facilities with a proposed $840 million term loan with a maturity of seven years and $250 million revolving credit facility with a five year term.
  • Accordingly, RadNet cannot provide any assurance that it will complete a refinancing transaction on terms that are favorable to RadNet or its investors.

RadNet Announces Outpatient Radiology Partnership with Providence Health System to Include Seven Centers in Burbank, Santa Clarita and the Northern San Fernando Valley of Los Angeles

Retrieved on: 
Tuesday, April 2, 2024
San Fernando Valley, Partnership, Providence Health & Services, EMR, Patient, RadNet, Porter Ranch, Los Angeles, Record, Workflow, Health, Hospital

The new joint venture, Tri Valley Imaging Group, was established in conjunction with RadNet contributing four California imaging centers – two centers in Burbank and one each in Panorama City and Santa Clarita.

Key Points: 
  • The new joint venture, Tri Valley Imaging Group, was established in conjunction with RadNet contributing four California imaging centers – two centers in Burbank and one each in Panorama City and Santa Clarita.
  • Providence contributed three imaging centers to the joint venture located in Santa Clarita, Mission Hills and Porter Ranch.
  • “We are excited to expand our partnership with RadNet and leverage its expertise in imaging diagnostics,” said Karl Keeler, chief executive, Providence LA-San Fernando Valley Service Area.
  • “Through this new joint venture, we are furthering our shared vision of improving patient access to high quality imaging services across the San Fernando and Santa Clarita valleys.”

RadNet Announces Closing of Public Offering of Common Stock

Retrieved on: 
Tuesday, March 12, 2024
Exercise, Madison Avenue, Telephone, RadNet, Attention, Security (finance), RBC, Prospectus, Capital market, Syndicate, Jefferies, CJS, Jefferies Group, RBC Capital Markets, Life insurance

LOS ANGELES, March 12, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, announced today the closing of its underwritten public offering of 5,232,500 shares of its common stock at a price to the public of $44.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to 682,500 additional shares of its common stock.

Key Points: 
  • LOS ANGELES, March 12, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, announced today the closing of its underwritten public offering of 5,232,500 shares of its common stock at a price to the public of $44.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to 682,500 additional shares of its common stock.
  • The gross proceeds to RadNet from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are approximately $230.2 million.
  • RadNet intends to use the net proceeds from the proposed offering for general corporate purposes and future acquisitions.
  • RBC Capital Markets, Sidoti & Company, LLC and CJS Securities are acting as co-managers for the offering.

Heart & Lung Health selects Caristo Diagnostics AI technology to provide early diagnosis of coronary artery disease UK-wide

Retrieved on: 
Tuesday, March 19, 2024
Diagnosis, Lung cancer, Chest pain, Information technology, Radiology, Coronary artery disease, Partnership, Risk, University, Patient, Lung, Calcium, National Health Service, NHS, Research, Hospital, RadNet, Artificial intelligence, Death, Plaque, Artery, Mace, CCTA, Heart, HLH, Health, Medical device

OXFORD, England, March 19, 2024 /PRNewswire/ -- Heart & Lung Health (HLH), a UK-wide network of over 110 expert cardiothoracic radiologists, has partnered with Caristo Diagnostics, a leading cardiac disease diagnostics company, to offer the novel CaRi-Heart® AI technology to predict patients' risk of developing potentially fatal coronary artery disease.

Key Points: 
  • OXFORD, England, March 19, 2024 /PRNewswire/ -- Heart & Lung Health (HLH) , a UK-wide network of over 110 expert cardiothoracic radiologists, has partnered with Caristo Diagnostics , a leading cardiac disease diagnostics company, to offer the novel CaRi-Heart® AI technology to predict patients' risk of developing potentially fatal coronary artery disease.
  • Many will undergo a coronary computed tomography angiography (CCTA) scan to diagnose coronary artery disease caused by plaques that narrow or block the arteries that supply blood to the heart.
  • "Early diagnosis and interventions have the potential to significantly improve health outcomes for thousands of patients at risk of coronary artery disease.
  • We are pleased to announce our partnership with Heart & Lung Health, aiming to enhance accessibility to CaRi-Heart technology for patients throughout the UK," said Frank Cheng, CEO of Caristo Diagnostics.

RadNet Announces Pricing of Public Offering of Common Stock

Retrieved on: 
Friday, March 8, 2024
Attention, Jefferies Group, CJS, Prospectus, Capital market, Telephone, RBC Capital Markets, Sale, Syndicate, RBC, RadNet, Madison Avenue, Security (finance), Jefferies, Life insurance

LOS ANGELES, March 07, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, announced today the pricing of its underwritten public offering of 4,550,000 shares of its common stock at a price to the public of $44.00 per share.

Key Points: 
  • LOS ANGELES, March 07, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, announced today the pricing of its underwritten public offering of 4,550,000 shares of its common stock at a price to the public of $44.00 per share.
  • The gross proceeds to RadNet from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $200 million.
  • In addition, RadNet has granted the underwriters a 30-day option to purchase up to an additional 682,500 shares of common stock at the public offering price, less underwriting discounts and commissions.
  • RadNet intends to use the net proceeds from the proposed offering for general corporate purposes and future acquisitions.

RadNet Announces Proposed $200 Million Underwritten Public Offering of Common Stock

Retrieved on: 
Thursday, March 7, 2024
Attention, Jefferies Group, Prospectus, Telephone, Sale, Syndicate, RadNet, Madison Avenue, Security (finance), Jefferies, Life insurance

In addition, RadNet intends to grant the underwriters a 30-day option to purchase up to an additional $30,000,000 of shares of common stock.

Key Points: 
  • In addition, RadNet intends to grant the underwriters a 30-day option to purchase up to an additional $30,000,000 of shares of common stock.
  • There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
  • RadNet intends to use the net proceeds from the proposed offering for general corporate purposes and potential future acquisitions.
  • A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC.

RadNet, Inc. to Present at the 44th Annual Cowen & Company Healthcare Conference on Wednesday, March 6th

Retrieved on: 
Tuesday, March 5, 2024
Digital health, RadNet, Conference

LOS ANGELES, March 05, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT ), a national leader in providing high-quality, cost-effective diagnostic imaging services through a network owned and operated outpatient imaging centers, today announced that Gregory Sorensen, M.D., Chief Science Officer of RadNet and President of DeepHealth (RadNet’s Artificial Intelligence Division) and Sham Sokka, Chief Operating & Technology Officer of RadNet’s Digital Health, will be presenting at the Cowen & Company Healthcare Conference on Wednesday, March 6, 2024 at 2:10 p.m. Eastern Time.

Key Points: 
  • LOS ANGELES, March 05, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT ), a national leader in providing high-quality, cost-effective diagnostic imaging services through a network owned and operated outpatient imaging centers, today announced that Gregory Sorensen, M.D., Chief Science Officer of RadNet and President of DeepHealth (RadNet’s Artificial Intelligence Division) and Sham Sokka, Chief Operating & Technology Officer of RadNet’s Digital Health, will be presenting at the Cowen & Company Healthcare Conference on Wednesday, March 6, 2024 at 2:10 p.m. Eastern Time.
  • and www.radnet.com under the “About RadNet” menu section and “News and Press Releases” sub-menu of the website.

RadNet, Inc. to Present at the Raymond James 45th Annual Institutional Investors Conference Today, March 4th, 2024

Retrieved on: 
Monday, March 4, 2024
RadNet, Conference

LOS ANGELES, March 04, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers, today announced that Mark Stolper, Executive Vice President and Chief Financial Officer will be presenting at the Raymond James 45th Annual Institutional Investors Conference in Orlando, Florida today, Monday, March 4, 2024 at 3:25 p.m. Eastern Time.

Key Points: 
  • LOS ANGELES, March 04, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers, today announced that Mark Stolper, Executive Vice President and Chief Financial Officer will be presenting at the Raymond James 45th Annual Institutional Investors Conference in Orlando, Florida today, Monday, March 4, 2024 at 3:25 p.m. Eastern Time.
  • A live webcast of RadNet's presentation can be accessed through the following link, https://wsw.com/webcast/rj129/rdnt/1616960 and is available for replay viewing.
  • The Raymond James 45th Annual Institutional Investors Conference will take place at the JW Marriott Grande Lakes, Orlando.

RadNet Reports Fourth Quarter 2023 Results, Including Record Revenue and Adjusted EBITDA(1), Releases 2024 Financial Guidance and Forms a New Digital Health Reporting Segment

Retrieved on: 
Thursday, February 29, 2024
Cloud, Acquisition, Digital health, EBCD, LOS, AI, Investment, De novo, Growth, Imaging, Lung, Adjustment, Breast, Comprehensive income, Information technology, Mammography, RadNet, Google Images, Software, Artificial intelligence, MRI, PET/CT, Video game

Dr. Howard Berger, President and Chief Executive Officer of RadNet, commented, “Record Revenue and Adjusted EBITDA(1) in the fourth quarter enabled us to exceed our 2023 full-year revised guidance ranges, ranges that were increased several times throughout 2023.

Key Points: 
  • Dr. Howard Berger, President and Chief Executive Officer of RadNet, commented, “Record Revenue and Adjusted EBITDA(1) in the fourth quarter enabled us to exceed our 2023 full-year revised guidance ranges, ranges that were increased several times throughout 2023.
  • Adjusted EBITDA(1) margins in the Imaging Center segment improved in the fourth quarter of 2023 relative to 2022 by 30 basis points, from 16.1% to 16.4%.”
    “During 2023, we carefully managed liquidity and financial leverage.
  • Including our AI reporting segment, total company Revenue was $420.4 million in the fourth quarter of 2023, an increase of 9.5% from $383.9 million in last year’s fourth quarter.
  • For full-year 2023, RadNet reported Revenue from its Imaging Center reporting segment of $1,604 million and Adjusted EBITDA(1) Excluding Losses from the AI reporting segment of $245.1 million.

RadNet to Enter the Houston, Texas Market through Platform Acquisition of Houston Medical Imaging

Retrieved on: 
Tuesday, February 27, 2024
Acquisition, Radiology, MD, De novo, Mammography, RadNet, Houston Medical, MRI, PET/CT, Medical imaging

Upon closing the acquisition, which is anticipated to occur during the second quarter, 2024, RadNet will be entering its first new market since 2020.

Key Points: 
  • Upon closing the acquisition, which is anticipated to occur during the second quarter, 2024, RadNet will be entering its first new market since 2020.
  • The seven centers, once acquired, will continue to operate under the Houston Medical Imaging brand, and will offer multi-modality services, including MRI, CT, PET/CT, X-ray, ultrasound, mammography and other procedures.
  • We believe this initial acquisition forms a strong platform from which to grow a new core network for RadNet.
  • The Houston market exhibits many of the characteristics that have permitted us to be successful in other RadNet core geographies.