From Los Angeles Business Journal · staff-author · · 40s
RadNet Acquires Radiology Staffer in $350 Million Deal
RadNet buys ONRAD for $350 million to expand hospital imaging services.
In brief
RadNet buys ONRAD for $350 million to expand hospital imaging services. RadNet acquires ONRAD for $350 million to address radiology staffing shortages in hospital imaging. Originally reported by Los Angeles Business Journal.
RadNet's Expansion Move
RadNet acquires Phoenix-based ONRAD to enter hospital imaging market.
Deal Structure
Includes $350 million cash, 5 million shares valued at $350 million, and up to $210 million earnout.
CEO's Goal
Howard Berger aims to create full one-stop radiology imaging services company.
“This is the next step in building an imaging company with comprehensive solutions that brings technology, radiology professional services and imaging operations together to address some of healthcare’s most pressing challenges and needs”
Staffing Shortage
Hospital radiology staffing shortages due to aging workforce and rising imaging demand.
The short version
RadNet acquires ONRAD for $350 million to address radiology staffing shortages in hospital imaging.
